Oil prices bounce back after three-day decline but still on pace for weekly loss
Publishing timestamp: 2024-05-23 10:53:20
Summary
Crude oil futures bounced back after three-day decline but still on pace for weekly loss. Prices have been stuck in a range since April highs as fears of wider war in Middle East ease. UBS sees oil market in deficit and forecasts Brent will rise to $91 per barrel. Goldman recommends buying call options in stocks set to benefit from AI-driven energy demand surge. Wells Fargo is bullish long term on nuclear power and uranium. Analyst says a global stock could rally 140% on hydrogen fuel boom.
Sentiment: MIXED
Tickers: @NG.1, %40RB.1?QSEARCHTERM=%40RB, @LCO.1, @CL.1,
Keywords: investment strategy, wti crude (mar'23), oil and gas, markets, natural gas (mar'23), breaking news: markets, ice brent crude (apr'23), business news,
Source: https://www.cnbc.com/2024/05/23/crude-oil-prices-today-wti-brent-rise-after-three-day-decline-.html