Crude oil heads for third straight weekly loss as supply and demand weigh on market
Publishing timestamp: 2024-06-07 09:10:10
Summary
Oil prices rebounded after sell-off but still down for the week due to OPEC+ production increases, soft manufacturing data, and disappointing private payrolls. Analysts believe the sell-off was an overreaction and that oil demand growth remains relatively healthy. OPEC+ may pause production increases if market deteriorates.
Sentiment: MIXED
Tickers: %40RB.1?QSEARCHTERM=%40RB, @NG.1, @CL.1, @LCO.1, JPM,
Keywords: jpmorgan drn, ice brent crude (apr'23), investment strategy, breaking news: markets, natural gas (mar'23), oil and gas, united states, wti crude (mar'23), business news, markets,
Source: https://www.cnbc.com/2024/06/07/crude-oil-prices-today.html