U.S. crude oil holds above $80 per barrel after starting week with strong gains
Publishing timestamp: 2024-06-18 08:46:28
Summary
Oil prices are holding above $80 per barrel after a 2% rally, driven by expectations of summer fuel demand drawing down inventories. Some analysts caution that futures may not have much more upside due to concerns about Q4 balances and beyond. OPEC+ decision to increase oil supply is seen as a bearish surprise by Goldman.
Sentiment: MIXED
Tickers: @NG.1, @CL.1, @LCO.1, %40RB.1?QSEARCHTERM=%40RB,
Keywords: business news, united states, investment strategy, natural gas (mar'23), ice brent crude (apr'23), breaking news: markets, markets, china, oil and gas, wti crude (mar'23),
Source: https://www.cnbc.com/2024/06/18/crude-oil-prices-today.html