U.S. crude oil on pace to snap three-week losing streak as forecasts point to tighter market
Publishing timestamp: 2024-06-14 11:42:26
Summary
Oil prices are up more than 3% for the week on expectations of summer fuel demand drawing down inventories. Analysts see a tighter market in the third quarter leading to potential price increases. Despite remaining below annual highs set in April, oil prices have rebounded after a sell-off last week. Various analysts have different outlooks on the future of oil prices, with some predicting a rise to the mid-to-upper $80s per barrel range. Geopolitical risks and OPEC+ decisions are also factors to watch in the oil market.
Sentiment: MIXED
Tickers: @LCO.1, @CL.1, %40RB.1?QSEARCHTERM=%40RB, @NG.1,
Keywords: investment strategy, oil and gas, natural gas (mar'23), business news, markets, breaking news: markets, wti crude (mar'23), ice brent crude (apr'23),
Source: https://www.cnbc.com/2024/06/14/crude-oil-prices-today.html