U.S. crude oil rises more than 1% after winter storm hits domestic production
Publishing timestamp: 2024-01-24 11:30:26
Summary
US crude oil prices rose over 1% due to a decrease in domestic production caused by severe winter storms. China's efforts to boost its economy also supported oil prices. However, record production in the US and concerns about supply outstripping demand are weighing on prices. The conflict in the Middle East has not yet led to major disruptions in oil supplies.
Sentiment: MIXED
Keywords: wti crude (mar'23), business news, oil and gas, u.s. economy, ice brent crude (apr'23),
Source: https://www.cnbc.com/2024/01/24/oil-prices-dip-on-demand-worries-as-us-gasoline-stocks-surge.html