Geopolitical tensions and weak U.S. GDP weigh on oil, while natural gas holds bullish structure above key EMAs amid volatile energy market conditions.
Equinor's Brazilian subsidiary has signed an agreement to sell its interest in the Peregrino field to Prio Tigris, a unit of PRIO SA, Brazil's largest independent oil-and-gas firm, the company said Friday.
Oil edged lower in the early morning Asian session amid supply concerns ahead of OPEC+ meeting on Monday.
Trump says any country that buys oil from Iran will not be allowed to do business with U.S.
The president's pledge to usher in an era of American energy dominance collides with his policies.
Oil prices fell, with Brent crude down to $60 a barrel as concerns over weakening demand intensified after the latest data showed the U.S. economy contracted in 1Q for the first time since 2022.
Oil prices edged higher on Thursday, steadying slightly after sharp losses on the previous day driven by signs Saudi Arabia could produce more, and as the U.S. economy contracted in the first quarter.
Saudi Arabian officials are briefing allies and industry experts to say the kingdom is unwilling to prop up the oil market with further supply cuts and can handle a prolonged period of low prices, five sources with knowledge of the talks said.
During the Wednesday session, we saw both grades of crude oil that I follow. FX Empire test the lower part of the recent range.
Natural gas and oil prices plunge over 15% in April as rising inventories and recession fears trigger sharp selloffs across global energy markets.
The company expects to increase its production at a 4.40% CAGR between 2024 and 2028. Cenovus has a reasonable debt level. In 2024, it reported a 47.35% liabilities-to-assets ratio. The first DCF model suggests that the company is undervalued by 81.71%, while the pessimistic DCF valuation indicates that CVE is overvalued by 19.63%.
BP PLC's (LSE:BP.) first-quarter underlying profits came in well below forecasts, with higher debt and a smaller share buyback than expected.