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The Latest Breaking News on Crude Oil Settles Sharply Higher on Heightened Geopolitical Risks

Crude Oil Prices Continue Lower on Economic Gloom

August WTI crude oil (CLQ23 ) Friday closed down -0.35 (-0.50%), and Aug RBOB gasoline (RBQ23 ) closed down -3.49 (-1.41%). Crude oil and gasoline prices Friday extended Thursday's sell-off on economic gloom driven by the weak U.S. and Eurozone purchasing manager reports. The preliminary-June S&P U.S. PMI fell by...

Barchart

3 Drilling Stocks to Buy in June 2023

With the upsurge in oil and gas production and increased upstream investments, the outlook for the energy drilling sector appears bright. Therefore, it could be wise to invest in robust energy drilling stocks Patterson-UTI Energy (PTEN), Precision Drilling (PDS), and Superior Drilling (SDPI) this month to capitalize on the sector’s…

StockNews.com

Crude Oil Prices Continue to Fall on Economic Gloom

August WTI crude oil (CLQ23 ) today is down -1.05 (-1.51%), and Aug RBOB gasoline (RBQ23 ) is down -0.533 (-2.16%). Crude oil and gasoline prices today have extended Thursday's sell-off on economic gloom driven by today's weak U.S. and Eurozone purchasing manager index reports. The preliminary-June S&P U.S. PMI...

Barchart

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3 Energy Stocks Rated Buy NOW

Rising oil and gas exploration activities to meet the world’s increasing energy demand is poised to keep the energy services industry afloat in the foreseeable future. Therefore, investing in Buy-rated fundamentally strong energy stocks ChampionX Corporation (CHX), MRC Global (MRC), and Geospace Technologies (GEOS) could be wise. Read on….

StockNews.com

Crude Prices Fall on Ample U.S. Oil Supplies

July WTI crude oil (CLN23 ) on Wednesday closed down -1.15 (-1.66%), and July RBOB gasoline (RBN23 ) closed down -0.33 (-0.13%). Crude oil and gasoline prices Wednesday settled lower. Crude prices gave up an early advance and moved moderately lower after an unexpected build in weekly EIA crude inventories....

Barchart

3 Energy Stocks With Enormous Growth Potential

As the stronger-than-expected rebound of the Chinese economy and tight supplies appear to be beneficial for the energy market, fundamentally strong energy stocks North American Construction Group (NOA), Ranger Energy Services (RNGR), and Graham Corp. (GHM) might be ideal additions for your portfolio, due to their high growth potential. Read…

StockNews.com

Crude Prices Fall Sharply after Goldman Sachs Cuts its Crude Price Forecast Again

July WTI crude oil (CLN23 ) on Monday closed down -3.05 (-4.35%), and July RBOB gasoline (RBN23 ) closed down -11.06 (-4.27%). Crude oil and gasoline prices Monday sold off sharply, with crude falling to a 6-week low and gasoline sliding to a 1-week low. A stronger dollar Monday weighed...

Barchart

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Crude Prices Fall on Energy Demand Concerns in China

July WTI crude oil (CLN23 ) on Friday closed down -1.12 (-1.57%), and July RBOB gasoline (RBN23 ) closed down -1.95 (-0.75%). Crude oil and gasoline prices Friday posted moderate losses. A stronger dollar Friday undercut energy prices. Also, concern about weakness in China's energy demand is bearish for crude...

Barchart

3 Oil Stocks to Watch This Week

Increased demand for oil and the recent production cuts are anticipated to push prices up. Given that the oil price tailwinds could bolster the energy industry in the foreseeable future, oil stocks Equinor ASA (EQNR), YPF Sociedad Anónima (YPF), and GeoPark Limited (GPRK), with notable fundamental strength, could be added…

StockNews.com

3 Foreign Oil Stocks to Buy for Value

Despite macroeconomic headwinds, strong global oil demand and constrained supply as Saudi signaled more output cuts could likely boost oil prices this year. Amid this, fundamentally strong foreign oil stocks BP (BP), Repsol (REPYY), and Ultrapar (UGP), currently trading at a discount, could be ideal investments. Keep reading….

StockNews.com

Which Energy Stock Should You Invest In: Marathon Oil (MRO) or Cheniere Energy (LNG)

After a stellar performance in 2022, the energy sector is expected to maintain its growth momentum this year. Strong energy demand worldwide and massive oil production cuts could significantly lift oil and gas prices. Energy producers Marathon Oil (MRO) and Cheniere Energy (LNG) are poised to benefit from the sector’s…

StockNews.com

Has Saudi Arabia lost control of oil prices?

Saudi Arabia has risked divisions within Opec, inflaming tensions with the US and reigniting inflation in Europe, all in a bid to boost flagging oil prices.

The Week

Crude Prices Slip on Stronger Dollar and Weak Economic News

July WTI crude oil (CLN23) on Tuesday closed down -0.41 (-0.57%), and July RBOB gasoline (RBN23) closed up +3.99 (+1.58%). Crude oil and gasoline prices Tuesday settled mixed. A stronger dollar Tuesday weighed on crude prices. Crude was also under pressure from concerns that a slowdown in the global economy...

Barchart

No Surprise as OPEC+ Trims Production

OPEC, the international oil cartel, meets twice yearly in a formal gathering in Vienna, Austria. The members convene to debate and decide on petroleum production policy for the coming months to balance supply and demand at a price that delivers the most attractive return for oil-producing countries and traditional energy…

Barchart

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3 Energy Stocks to Add to Your Watchlist

The energy sector is expected to remain robust amid solid demand and the emergence of new oil and gas ventures. Hence, I think fundamentally strong Energy Transfer (ET), Valero Energy (VLO), and World Fuel Services (INT) could be ideal additions to your watchlist. Keep reading.

Barchart

OPEC+ -- No Surprise as the Cartel Trims Production

Barchart

Crude Prices Find Support as Saudi Arabia Cuts Crude Production

July WTI crude oil (CLN23 ) on Monday closed up +0.41 (+0.57%), and July RBOB gasoline (RBN23 ) closed up +2.37 (+0.95%). Crude oil and gasoline prices Monday posted moderate gains, with crude climbing to a 1-month high. Crude prices rallied Monday after Saudi Arabia said it would cut its...

The Hindu

Eye on oil: on oil prices and India

The softening in crude oil purchase prices has not percolated to the Indian consumer

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3 Energy Stocks Poised for Growth

The energy sector is well-positioned to witness significant growth this year due to the oil price tailwinds from supply cuts. Given this backdrop, quality energy stocks Weatherford International (WFRD), Euronav (EURN), and North European Oil Royalty Trust (NRT), which look poised for growth, could be wise portfolio additions now. Read…

The Guardian - UK

Brent crude price rises after Saudi Arabia agrees to cut oil output

Price gained more than 2% on Monday morning to touch one-month high of $78.73

Bangkok Post

Saudi Arabia slashes output further to boost oil price

VIENNA - Riyadh on Sunday announced a fresh oil output cut following a meeting of major producers aiming to prop up prices despite fears of a recession.

WEKU

Saudi Arabia cuts oil production again to shore up prices — this time on its own

OPEC+ countries also agreed to extend oil production cuts they announced in April through the end of 2024, reducing production by more than 1 million barrels per day.

The Independent UK

With oil prices slumping, OPEC+ producers weigh more production cuts

The major oil-producing countries led by Saudi Arabia and Russia are deciding whether to make more cuts to the amount of crude they supply to the global economy

Barchart

Crude Closes Higher Ahead of Weekend OPEC+ Meeting

July WTI crude oil (CLN23 ) on Friday closed up +1.64 (+2.34%), and July RBOB gasoline (RBN23 ) closed up +6.45 (+2.65%). Crude oil and gasoline prices Friday closed moderately higher. Crude prices rose Friday in hopes of stronger Chinese energy demand after Bloomberg reported the Chinese government is working...

Barchart

Crude Settles Higher on Dollar Weakness and Strong Economic Reports

July WTI crude oil (CLN23 ) on Thursday closed up +2.01 (+2.95%), and July RBOB gasoline (RBN23 ) closed down -0.76 (-0.31%). Crude oil and gasoline prices Thursday settled mixed. A decline in the dollar index Thursday to a 1-week low was bullish for energy prices. Also, the House passage...

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