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Oil prices bounce back from three-month lows, but still heading for weekly loss - TL;DR CNBC

Oil prices bounce back from three-month lows, but still heading for weekly loss

Publishing timestamp: 2024-05-24 10:38:18


Summary

U.S. crude oil prices hit three-month lows before rebounding, heading for weekly losses. OPEC+ to meet virtually on June 2 to review production policy. Analysts are cautious about the oil market due to oversupply concerns. Goldman recommends buying call options in stocks benefiting from AI-driven energy demand surge. Wells Fargo sees potential in dividend payers. Goldman is bullish on nuclear power and uranium, while an analyst predicts a 140% rally in a global stock due to hydrogen fuel boom.


Sentiment: NEUTRAL

Tickers: @CL.1%40RB.1?QSEARCHTERM=%40RB@NG.1@LCO.1

Keywords: russiabreaking news: marketswti crude (mar'23)united statesinvestment strategyice brent crude (apr'23)natural gas (mar'23)business newsmarketsoil and gas

Source: https://www.cnbc.com/2024/05/24/oil-prices-hit-three-month-lows-head-for-weekly-loss-as-summer-driving-season-kicks-off.html


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