Stock futures mostly trade higher; Dow contracts lag
Oil prices have fallen sharply this year as global supply remains strong and demand has been slow to grow.
U.S. crude oil inventories fell by 961,000 barrels last week as refineries raised their capacity use.
Persistently weak crude prices pressured merger and acquisition activity in the U.S. upstream oil and gas sector in the third quarter, analytics firm Enverus said on Wednesday.
Oil prices remain under pressure as record sea storage hits 1.24B barrels; natural gas holds steady with traders eyeing a break above key resistance.
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Oil prices dipped on Monday, pressured by worries over a global glut as escalating U.S.-China trade tensions added to concerns about an economic slowdown and weaker energy demand.
Oil futures recover slightly on Friday, but bearish sentiment lingers with the 50-day below the 200-day and supply pressures mounting.
Lipow Oil Associates President Andy Lipow discusses President Donald Trump's efforts to halt India from buying Russian oil and explains his outlook for global oil supplies on ‘The Claman Countdown.' #foxbusiness #fox #media #breakingnews #us #usa #new #news #breaking #theclamancountdown #andylipow #donaldtrump #trump #global #oil #gas #energy #russia #ukraine #war #india #economy #oilandgas #prices #market #world #geopolitics #oilmarket #energynews
The oil markets look soft again this past week, as we continue to see a lot of selling. This is a market that will be looking for a short-term bounce, but this bounce could be a nice selling opportunity in a market that simply cannot find its feet.
Crude oil sank to $57.29, failing $58.39 Fib support, with a close below $57.77 targeting $55.23-$56.47 zone.
A big international trade is conducted in cooking oil. But this isn't about the oil you put into your kitchen fryer.