Oil futures rose Tuesday, taking back some of the ground lost in the previous session when investors reacted to reports Israel and Iran-backed Hezbollah were moving close to a cease-fire.
Oil prices hover near $69.11 as geopolitical calm lowers risk premiums. Traders monitor Fibonacci levels and OPEC+ decisions for market direction.
A new approach to wringing cash from its swath of desert has Texas Pacific Land shares soaring.
Russia-Ukraine conflict and U.S. policy impacts add mixed signals to crude and natural gas outlook this week.
Natural gas and the US dollar remain strong, while WTI oil trends lower after encountering resistance.
Oil prices slipped in early trade on Tuesday, extending declines from the previous session as investors took stock of a potential ceasefire between Israel and Hezbollah, weighing on oil's risk premium.
Oil was lower in early Asian trade as the Israel-Hezbollah ceasefire moves closer, according to a commentary by Quantum Commodity Intelligence.
Oil prices (CL=F, BZ=F) fell on Monday following reports that Israel and Hezbollah may be nearing a ceasefire deal. Stephen Schork of The Schork Group tells Yahoo Finance there has been a "bearish environment overall" in the oil market.
The crude oil market continues to see a range play out, as the Monday session has shown itself to be negative. However, we are very much in a well-defined range, and this is something that should be paid close attention to.
Oil futures were slightly lower early Monday, consolidating after a surge that saw the U.S. benchmark jump more than 6% last week as investors reacted to Russia's nuclear threats as its war with Ukraine intensified.
Crude oil slips as $71.53 resistance halts gains; geopolitical tensions with Russia and Iran raise global supply disruption fears.
Oil prices hovered near two-week highs on Monday following 6% gains last week, as geopolitical tensions heightened between western powers and major oil producers Russia and Iran, raising risks of supply disruption.