U.S. crude oil trades above $82 per barrel, on pace for second weekly gain in a row
Publishing timestamp: 2024-06-20 13:18:54
Summary
West Texas Intermediate is on track for a second consecutive weekly gain, with JPMorgan forecasting that Brent will reach $90 due to summer fuel demand. U.S. crude oil, gasoline, and diesel inventories all decreased last week, leading to higher gas prices. Analysts are predicting a tighter market as inventories decrease, with tensions escalating in the Middle East. Goldman recommends utility stocks and a solar stock for potential investment opportunities.
Sentiment: MIXED
Tickers: @RB.1, @LCO.1, @CL.1, @NG.1,
Keywords: rbob gas (mar'23), oil and gas, ice brent crude (apr'23), investment strategy, breaking news: markets, natural gas (mar'23), markets, wti crude (mar'23), business news,
Source: https://www.cnbc.com/2024/06/20/crude-oil-prices-today.html