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

Eye on oil: on oil prices and India

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

The Hindu

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…

StockNews.com

Oil Prices Jump As Saudi Arabia Rattles Short Sellers

Oil prices popped Monday following Saudi Arabia's decision to cut oil production.

Investors Business Daily

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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

The Guardian - UK

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.

Bangkok Post

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.

WEKU

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

The Independent UK

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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...

Barchart

OPEC+ Meeting: No Crude Production Change Seen Even As Oil Prices Fall

OPEC+ meets this weekend with oil prices sagging lower. Meanwhile, energy stocks dropped early Wednesday, with CVX and XOM both slumping.

Investors Business Daily

Marathon Oil Corporation (MRO) or Shell PLC ADR (SHEL): Which Stock Is a Buy?

Despite lingering macroeconomic headwinds, the energy sector is well-placed for significant growth this year. Sustained energy demand worldwide and constrained supplies are expected to boost oil and gas prices. Energy producers Marathon Oil (MRO) and Shell (SHEL) should benefit from the sector’s bright growth prospects. But which of these stocks…

StockNews.com

OR prepares for oil price volatility later this year

PTT Oil and Retail Business Plc (OR) is bracing for possible challenges caused by oil price fluctuations and a global economic slowdown that could affect the company in the second half of this year.

Bangkok Post

Russia's Novak does not expect new steps from OPEC+ meeting

Russian Deputy Prime Minister Alexander Novak said on Thursday he expected no new steps from the OPEC+ group of oil producers at its meeting in Vienna on June 4, Russian media reported, after the group announced a significant output cut earlier this year.

Reuters

Crude Posts Moderate Gains as Weekly EIA Crude Inventories Unexpectedly Plunge

July WTI crude oil (CLN23 ) on Wednesday closed up +1.43 (+1.96%), and July RBOB gasoline (RBN23 ) closed up +6.00 (+2.34%). Crude oil and gasoline prices posted moderate gains, with crude climbing to a 3-week high and gasoline climbing to a 5-week high. Crude prices opened higher Wednesday on...

Barchart

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Barchart

Crude Posts Moderate Gains on Comments from Saudi Energy Minister

July WTI crude oil (CLN23 ) on Tuesday closed up +0.86 (+1.19%), and July RBOB gasoline (RBN23 ) closed up +2.11 (+0.83%). Crude oil and gasoline prices Tuesday settled moderately higher, with crude posting a 1-1/2 week high and gasoline climbing to a 5-week high. Crude prices jumped Tuesday after...

Bangkok Post

TOP optimistic on outlook for oil trading this year

SET-listed Thai Oil Plc (TOP), the oil refinery arm of national oil and gas conglomerate PTT Plc, expects a better outlook for oil trading this year, with the global demand and supply of oil believed to be almost equal.

Barchart

Crude Settles Higher on Expectations for Stronger U.S Fuel Demand Memorial Day Weekend

June WTI crude oil (CLM23 ) on Monday closed up +0.44 (+0.61%), and June RBOB gasoline (RBM23 ) closed up +7.28 (+2.83%). Crude oil and gasoline prices Moday settled moderately higher, with gasoline climbing to a 3-1/2 week high. The outlook for stronger U.S. fuel demand this Memorial holiday weekend...

Bangkok Post

Sluggish economy tames local oil prices

Diesel prices dipped again on Monday to around 32 baht a litre as global crude oil prices are on a decline.

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StockNews.com

Best Energy Stock to Buy in May

Although oil and gas prices are nowhere close to last year's highs, they have been moving up lately. Due to the reopening of the Chinese economy, global oil demand is expected to increase. Moreover, production cuts by the OPEC+ nations are expected to drive up oil prices. Amid this backdrop,…

StockNews.com

2 Energy Stocks to Turbocharge Your Returns

Soaring oil and gas demand and tight supply are anticipated to keep the energy sector well-positioned for considerable growth in the upcoming months. Given this backdrop, quality energy stocks Marathon Petroleum (MPC) and Permianville Royalty Trust (PVL) might be solid buys now. Read on….

The Independent UK

Oil giant Saudi Aramco's 1st quarter profit down 20% to $31B

Oil giant Saudi Aramco has reported a first-quarter profit of $31.88 billion, down nearly 20% from the same period last year as energy prices have sunk over global recession concerns

StockNews.com

2 Energy Stocks Outperforming Wall Street

The energy sector thrived in 2022 and is envisioned to remain buoyed in the foreseeable future due to soaring demand amid the reopened Chinese economy. Given this backdrop, quality energy stocks Hess Midstream LP (HESM) and CVR Energy (CVI), outperforming Wall Street, could be worth buying now. Read on….

StockNews.com

3 Energy Stocks to Watch as Energy Prices Rise

The energy sector is well-positioned to witness a positive growth trajectory on the backs of the reopening of China and production cuts by OPEC+. Considering that the combination could raise oil prices in the near term, quality energy stocks Scorpio Tankers (STNG), North European Oil Royalty Trust (NRT), and Epsilon…

Barchart

Crude Prices Slightly Lower on Global Energy Demand Concerns

June WTI crude oil (CLM23 ) on Thursday closed down -0.04 (-0.06%), and June RBOB gasoline (RBM23 ) closed up +0.38 (+0.16%). Crude oil and gasoline prices Thursday settled mixed, with crude falling to a 5-month low. A stronger dollar Thursday weighed on energy prices. Crude oil prices also fell...

Investors Business Daily

Oil Prices Skid To Lowest Level Since March; Traders Brace For Recession

U.S. crude futures tanked Tuesday and continued to slip Wednesday, hitting 5-week lows. The oil price decline dragged down energy stocks.

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