Exxon Mobil Corp.'s stock fell 0.5% early Wednesday, after the oil giant said lower oil prices and pressure on refining margins would weigh on fourth-quarter earnings.
Oil futures were flat to slightly higher Wednesday, with investors awaiting official data on U.S. inventories after an industry report was said to show a large drop in crude stocks but significant increases in gasoline and distillates.
Crude nears $75 amid inventory drops and tightening global supplies. Can bullish trends sustain in a volatile market?
'The Bottom Line' panelists Liz Peek and Steve Moore discuss President-elect Donald Trump's plans to reverse President Biden's energy policies.
Oil prices rose on Wednesday as supplies from Russia and OPEC members tightened, while data showing an unexpected increase in U.S. jobs openings pointed to expanding economic activity and consequent growth in oil demand.
Carole Nakhle, founder and director of Crystol Energy, examines oil market volatility as U.S. President Joe Biden moves to ban offshore oil and gas drilling ahead of President-elect Donald Trump's inauguration.
Oil rose in the early Asian session amid expectations of tightening supply from Russia and Iran due to Western sanctions, Exness' Maria Agustina Patti said.
Crude oil builds bullish momentum, challenging resistance near 76.47 as strong demand drives prices higher, but resistance at the 200-Day MA may limit gains.
Oil futures hover near key support as demand weakens. Traders eye $72.35 for clues on crude's next move.
Sanctions tighten Russian and Iranian supply, with energy markets navigating a volatile outlook in 2025.
Oil prices extended losses into a second straight session on Tuesday on technical correction after last week's rally, while forecasts for ample supply and a firm dollar also weighed.
Oil fell amid a likely ongoing technical correction. Prices finished lower overnight after posting five straight session gains.