Crude oil ends higher this week, but rising OPEC+ output and Iran deal risks point to a bearish oil outlook with demand signals remaining weak.
Rebecca Babin of CIBC Private Wealth discusses the implications of a potential Iran nuclear deal on energy prices, and how much extra crude would be added to global supply.
Natural gas slides near $3.35 as sellers dominate; oil steadies despite rising stockpiles and a forecasted global supply surplus in 2025.
Bob McNally, Founder and President of Rapidan Energy Group, says that President Trump has decided that lowering inflation "takes precedence" over increasing domestic oil production, unless oil prices fall to $30/bbl.
Petrobras' dividend thesis is under pressure due to rising CapEx, weaker Brent prices, and declining free cash flow. Management's aggressive investment strategy, especially in refining and energy transition, raises concerns about efficiency and future returns. Despite a still-strong dividend yield, its sustainability is doubtful given lower oil prices, higher debt, and less room for extraordinary payouts.
Oil futures edged higher in the early Asian trade on a possible technical recovery after they posted back-to-back losses overnight.
The prospect of a nuclear deal between the U.S. and Iran contributed to the biggest daily drop in oil prices so far this month. But the deal, and a subsequent lift in global oil supplies, are not a sure thing.
Oil prices have bounced from recent lows, but any rally may prove short-lived. Brent crude has climbed to around US$66 a barrel from lows near US$60 as the United States and China step back from the brink of further trade conflict.
WTI crude oil consolidates below the 50-day SMA, while natural gas remains in a strong uptrend after finding support at $3.
Oil fell in the early Asian session amid a surprise increase in U.S. crude inventories.
The Organization of the Petroleum Exporting Countries trimmed its economic growth outlook and kept its oil demand forecast steady as it prepares to accelerate production.
Oil edged lower in the early Asian session, with the market's focus on U.S. President Trump's visit to the Middle East.