Friday, February 7, 2025
Oil benchmark Brent's price structure shows over-supply concern- oil and gas 360

Oil benchmark Brent’s price structure shows over-supply concern

Nasdaq LONDON – Oil traders’ concerns have shifted from under-supply to over-supply, the futures contract structure of the global benchmark Brent showed on Wednesday, as expectations of weak economic growth outweigh Saudi Arabia’s output cuts. Saudi Arabia has said it will cut its output in July, deepening the impact of a broader deal among members of the Organization of the Petroleum Exporting

ANALYSIS-Contrarians bet U.S. energy shares will shake doldrums in 2023's second half- oil and gas 360

ANALYSIS-Contrarians bet U.S. energy shares will shake doldrums in 2023’s second half

Nasdaq NEW YORK – A blazing U.S. stock market rally left shares of energy companies behind in the first six months of 2023 as faltering global growth sapped expectations of oil demand. Some contrarian investors are betting a second half rebound may be in the works. While the U.S. economy has been more resilient than expected, weaker growth in the eurozone and China has

EIA: Energy trade between U.S. and Mexico hits record levels- oil and gas 360

EIA: Energy trade between U.S. and Mexico hits record levels

Oil Price The U.S. Energy Information Administration (EIA) has reported that energy trade in 2022 between the United States and Mexico totaled $81.9 billion in real prices, an all-time high. U.S. energy exports to Mexico in real prices totaled $55.8 billion in 2022, up from the previous high of $45.4 billion in 2021, again an all-time high. The U.S. was a net

Oil pares gains as rate hike fears offset US inventory drop- oil and gas 360

Oil pares gains as rate hike fears offset US inventory drop

CNBC Oil gave up its earlier gains on Wednesday as worries over further interest rate hikes and slowing demand offset support from an industry report showing a larger-than-expected drop in U.S. crude inventories.   Benchmark Brent crude prices are down more than 15% this year as rising interest rates hit investor appetite, while China’s economic recovery has faltered after several months of