Oil prices extend losing streak, on pace for third daily decline
Publishing timestamp: 2024-05-22 11:33:56
Summary
Crude oil futures fell for the third session ahead of the crucial OPEC meeting in June. Prices are softening with U.S. crude oil and global benchmark Brent down more than 2% for the week. Analysts expect OPEC to extend production cuts as prices soften. Additionally, Goldman is recommending buying call options in stocks set to benefit from an AI-driven energy demand surge. Wells Fargo is bullish on dividend payers, while Goldman is also bullish on nuclear power and uranium stocks. Analysts are predicting a global stock could rally 140% on the hydrogen fuel boom.
Sentiment: NEUTRAL
Tickers: @CL.1, %40RB.1?QSEARCHTERM=%40RB, @LCO.1, @NG.1,
Keywords: wti crude (mar'23), oil and gas, markets, breaking news: markets, natural gas (mar'23), business news, investment strategy, ice brent crude (apr'23),
Source: https://www.cnbc.com/2024/05/22/crude-oil-prices-today-wti-brent-fall-for-third-day.html