Monday, August 24, 2026

Oil Drops on Fears of More U.S. Drilling After Climate Deal Withdrawal

From Reuters Crude fell more than 1 percent on Friday, heading for a second straight week of losses, on worries that U.S. President Donald Trump’s decision to withdraw from an international climate accord will spur further domestic production and contribute to a persistent global oversupply. Brent crude futures were down 61 cents at $50.02 per barrel by 2:00 p.m. (1800

Wall Street Has More Bad News for OPEC: 2018 Doesn’t Look Great

From Bloomberg As oil prices sag despite OPEC’s renewed efforts to shore up world crude markets, Wall Street banks have more bad news for the producer group: the outlook for next year isn’t great either. Oil futures have lost 8 percent since the Organization of Petroleum Exporting Countries and its allies agreed on May 25 to keep output constrained through