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The Latest Breaking News from OPEC

Oil prices fall as reality of weak global demand overtakes risk of wider war in Middle East

Global oil prices are falling sharply after a retaliatory strike by Israel over the weekend targeted Iranian military sites rather than its energy infrastructure as had been feared

The Independent UK

Heightened Middle East Tensions Boost Crude Prices

December WTI crude oil (CLZ24 ) Friday closed up +1.59 (+2.27%), and December RBOB gasoline (RBZ24 ) closed up +0.0447 (+2.25%). Crude and gasoline prices settled moderately higher on Friday, with gasoline posting a 1-week high. Ramped-up Middle East tensions are boosting crude prices. Also, stronger-than-expected global economic news Friday...

Barchart

Crude Oil Pushes Higher on Energy Demand Optimism

December WTI crude oil (CLZ24 ) today is up +0.71 (+1.01%), and December RBOB gasoline (RBZ24 ) is up +0.0243 (+1.22%). Crude and gasoline prices today are moderately higher. Crude is finding support today from a weaker dollar. Also, today's stronger-than-expected global economic news is positive for energy demand and...

Barchart

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Crude Weakens on Ample Supplies and Hopes for Cease-Fire in the Middle East

December WTI crude oil (CLZ24 ) today is down -0.61 (-0.86%), and December RBOB gasoline (RBZ24 ) is down -0.0175 (-0.87%). Crude and gasoline prices today gave up an early advance and turned lower. Crude is under pressure on negative carryover from Wednesday when weekly EIA crude inventories rose more...

Barchart

3 Undervalued Energy Stocks Ready for a Breakout

With rising oil prices and a positive outlook from key industry organizations, the energy sector is poised for significant growth in the future. Therefore, investors would be wise to add fundamentally strong and undervalued energy stocks, Energy Transfer (ET), DNOW (DNOW), and MRC Global (MRC), to their portfolio, as these…

StockNews.com

Crude Prices Firm as Middle East Conflict Persists

Nov WTI crude oil (CLX24 ) today is up +1.64 (+2.32%), and Nov RBOB gasoline (RBX24 ) is up +4.97 (+2.47%). Crude and gasoline prices today are moving higher for a second day and posted 1-week highs. Heightened Middle East tensions underpin crude prices due to concern that the escalation...

Barchart

Crude Climbs as China Boosts Stimulus Measures

Nov WTI crude oil (CLX24 ) today is up +0.88 (+1.27%), and Nov RBOB gasoline (RBX24 ) is up +0.10 (+0.05%). Crude and gasoline prices today are moderately higher. Today's action by Chinese banks to cut interest rates may spur economic growth and is bullish for crude prices. Also, heightened...

Barchart

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Oil price slides amid China slowdown and easing Middle East fears

Brent crude slides by almost $3.50 a barrel to below $74 after Opec cuts forecasts for demand growth

The Guardian - UK

3 Oil Stocks That Still Have Major Upside Potential

The oil market is experiencing continuous growth thanks to the delayed OPEC+ production increases, lower interest rates supporting economic activities, and strong demand. Therefore, it could be wise to invest in top oil stocks Schlumberger (SLB), VAALCO Energy (EGY) and Obsidian Energy (OBE), which have significant upside potential. Read on.

StockNews.com

FTC Says Hess CEO Encouraged OPEC To Raise Prices, Bans Him From Chevron Board

Oil company scion John Hess allegedly 'communicated publicly and privately with OPEC representatives and oil ministers of OPEC member states.'

International Business Times

3 Oil & Gas Stocks That Remain Undervalued

With growing geopolitical instability, delayed OPEC+ production increases, and rapid technological advancements, the oil and gas market is poised for solid growth. Hence, currently undervalued energy stocks Energy Transfer (ET), Plains All American Pipeline (PAA), and Delek Logistics Partners (DKL) could be ideal investment choices. Read more.

StockNews.com

Oil Prices Climb Amid Middle East Tensions

The Middle East war is causing oil prices to rise. Brent crude is up 0.71% to $72.49/barrel, while WTI crude is up 0.63% to $68.61/barrel.

International Business Times

3 Oil & Gas Stocks With High Upside Potential

Owing to robust global demand, continuous OPEC supply cuts, and advancing economic growth, the oil and gas market is experiencing solid growth. Hence, investing in fundamentally solid oil and gas stocks Schlumberger (SLB), Cenovus Energy (CVE), and APA (APA), which are poised for high upside, could be ideal. Read more.

StockNews.com

Cheaper Gasoline Prices And Higher Crude Oil Prices: But Why?

Gasoline prices typically fall in the autumn and early winter as demand decreases and gasoline retailers switch to cheaper winter-blend fuels. Additionally, Americans take fewer trips during this period, further reducing demand. OPEC is expected to increase production in December, which could contribute to further price declines. These combined factors…

Barchart

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StockNews.com

3 High-Momentum Energy Stocks to Watch in 2024

As supply disruptions and market shifts could potentially lead to an increase in oil prices, it's worth considering investments in stable energy stocks Energy Transfer LP (ET), ChampionX Corporation (CHX), and Secure Energy Services (SECYF). These companies are showing good growth momentum in the current landscape. Read on….

StockNews.com

3 Oil Stocks With High Yields to Buy Now

Although global oil demand is projected to grow, it’s happening more slowly. In this climate, investing in fundamentally sound companies such as EOG Resources, Inc. (EOG), Energy Transfer LP (ET), and Sabine Royalty Trust (SBR) could be wise. These firms offer not just reliable dividend income but also strong potential…

Latin Times

Markets Mixed Ahead Of US Inflation, Yen Rallies After US Debate

The Japanese unit was also boosted by bets on a Kamala Harris presidency after she was considered to have come out on top in her US presidential debate with Donald Trump and superstar Taylor Swift endorsed her.

International Business Times

Asian Markets Drop On Economy Worries, Yen Rallies

Equities slipped Wednesday following a mixed day on Wall Street, as worries about the world's top two economies offset optimism that the Federal Reserve will start cutting interest rates next week.

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The Independent UK

How Trump set the Biden administration up for an economic disaster with a bargain made in 2020

When Biden took office in 2021, he faced the prospect of responding to a number of Trump’s decisions made during his chaotic final year in office — including one important one made about oil

The Guardian - US

How China and a tariffs row cast a shadow over booming US solar power

The source of new renewable energy is also a battleground over China’s cheap exports of panels that has split US firms

Barchart

Crude and Gasoline Prices Pressured by Stagnant Energy Demand

Oct WTI crude oil (CLV24 ) Thursday closed down -0.05 (-0.07%), and Oct RBOB gasoline (RBV24 ) closed down -3.60 (-1.84%). Crude oil and gasoline prices settled lower on Thursday, with crude posting an 8-3/4 month nearest-futures low and gasoline falling to a 2-3/4 year nearest-futures low. Energy demand concerns...

Barchart

Crude Prices Gain as OPEC+ Delays Crude Production Increases

Oct WTI crude oil (CLV24 ) today is up +0.43 (+0.62%), and Oct RBOB gasoline (RBV24 ) is down -3.07 (-1.56%). Crude oil and gasoline prices today are mixed, with gasoline falling to a 2-3/4 year nearest-futures low. Today's decline in the dollar index is bullish for energy prices. Short-covering...

Barchart

Crude Prices Slump on Weak Global Fuel Demand Prospects

Oct WTI crude oil (CLV24 ) Wednesday closed down -1.14 (-1.62%), and Oct RBOB gasoline (RBV24 ) closed down -1.59 (-0.80%). Crude oil and gasoline prices Wednesday added to Tuesday's sharp losses, with crude falling to an 8-3/4 month low and gasoline falling to a 2-3/4 year nearest-futures low. Weaker-than-expected...

Barchart

Crude Prices Pressured by Weak Global Fuel Demand Prospects

Oct WTI crude oil (CLV24 ) today is down -0.26 (-0.37%), and Oct RBOB gasoline (RBV24 ) is down -0.80 (-0.40%). Crude oil and gasoline prices today added to Tuesday's sharp losses, with crude falling to an 8-3/4 month low and gasoline falling to a 2-3/4 year nearest-futures low. Weaker-than-expected...

Barchart

Crude Sharply Lower on Global Demand Concerns and Possible Resumption of Libyan Supplies

Oct WTI crude oil (CLV24 ) Tuesday closed down -3.21 (-4.36%), and Oct RBOB gasoline (RBV24 ) closed down -11.55 (-5.52%). Crude oil and gasoline prices plunged Tuesday, with crude falling to an 8-month low and gasoline falling to a 2-3/4 year nearest-futures low. Tuesday's rally in the dollar index...

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