Wednesday, December 18, 2024
oil-barrels-and-markets-482px Oil Prices Drop - Oil & Gas 360

Oil Steadies as U.S. Supply Concerns Ease But Iran Tensions Loom

From CNBC Oil prices steadied on Tuesday as a resumption of production in the Gulf of Mexico after Hurricane Barry and a boom in U.S. supply from shale oil countered tensions in the Middle East.  Uncertainty about China’s economic prospects also pressured prices after data on Monday showed that growth in the country slowed to 6.2% from a year earlier,

Producers Still Cautious Despite Higher Q2 Expectations on Stronger Oil Prices 

From Global News Higher oil prices are expected to boost cash flow for the large Canadian crude producers as they roll out second-quarter results beginning next week, but analysts say the extra money is unlikely to be added to growth budgets.  Canadian oil prices steadied in comparison with U.S. benchmarks in the three months ended June 30, following two quarters of volatility