CNBC Oil prices were steady on Friday, but on track for a fifth straight week of gains with investors optimistic healthy demand and supply cuts will keep prices buoyant. Risk appetite in wider financial markets has been fuelled by growing expectations that central banks such as the Fed and European Central Bank are nearing the end of policy tightening campaigns, boosting the outlook
Oil Price Crude oil prices are about to record their fourth consecutive week of gains after OPEC said in its monthly report that supply is about to tighten further. The latest Monthly Oil Market Report showed OPEC’s combined daily average output at 28.8 million barrels for March, which was 86,000 bpd less than the average for February. Yet OPEC also said in its
BOE Report U.S. natural gas futures slid about 2% on Friday as record output and reduced liquefied natural gas (LNG) exports allowed utilities to inject much bigger than normal amounts of gas into storage for the winter over the past month. That puts the contract on track to decline for an eighth week in a row for the first time
World Oil (Bloomberg) — U.S. shale producers are on course to make nearly $200 billion this year, enough to make the industry debt-free by 2024 and potentially fund a pivot toward more natural gas production, according to Deloitte LLP. High oil prices and disciplined capital spending mean American frackers are on course for their most profitable year on record, part
Reuters LONDON -Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand. The Brent and WTI benchmarks were both on course for gains of about 8% this week, their first weekly gain in seven, even after a
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