Oil prices have been rangebound throughout May, but promising inflation data and falling U.S. crude inventories may soon spark a rally.
Oil prices have remained rangebound this month, but falling inventories and a slowdown in U.S. inflation could provide the spark for a breakout. Friday, May 17th 2024Crude prices continue to trend within a very narrow range, confined within $82 and $84 per barrel over the course of May, and despite this week’s improving macroeconomic outlook Brent futures continue to be rangebound. That said, a slight US oil inventory drop and US inflation slowing down to a monthly rate of 0.
the national oil company of the UAE, is planning to expand its operations into the US market by setting up a trading desk in the States while also looking for larger LNG exposure in the shale patch with ongoing talks on Rio Grande LNG. Colombia Turns Off Pipeline Due to Theft.
WTI Brent Demand Supply Inflation Inventories Rally
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil Prices Remain Depressed Despite the Return of Venezuela SanctionsOil prices remained under pressure today despite news that the United States will reimpose sanctions on Venezuela after the Maduro regime failed to guarantee free and fair elections.
Read more »
Citi Sees Oil Prices Falling to $70 Range in Q3 2024Citi has forecast that oil prices will average $86 per barrel in the second quarter, slightly higher than current Brent price at $83 per barrel, but fall to $74 per barrel in the third quarter
Read more »
3 Oil & Gas Stocks Most Sensitive To Oil Price SwingsApache, Marathon Oil Corp. and Targa Resources were all found to have a strong response to oil price volatility.
Read more »
Banks Remain Financially Committed to Oil Despite Transition ShiftThe world's 60 largest banks have invested $6.9 trillion in the oil and gas industry since the Paris Agreement was signed in 2016.
Read more »
Promising Economic Signals Push Oil Prices Toward a Weekly GainSigns that major economies are finally overcoming inflation have helped to push oil prices higher, with both WTI and Brent set to post a weekly gain.
Read more »
Oil Prices Climb on a U.S. Inventory Draw and Inflation OptimismOil prices were moving higher early on Thursday as the demand outlook continued to improve on the back of a larger-than-expected inventory draw for the week ending May 10.
Read more »