U.S. crude oil falls more than 1% as market hopes Libya production halt will be short lived
Publishing timestamp: 2024-08-27 11:37:07
Summary
U.S. crude oil prices surged due to potential disruption in Libyan production, but market expects gradual rather than sudden impact. Goldman projects short-lived halt in Libyan production. China's shift to electric vehicles and U.S. supply efficiency gains could lead to lower oil prices in the future.
Sentiment: MIXED
Tickers: @CL.1, @LCO.1, @RB.1, @NG.1,
Keywords: wti crude (mar'23), rbob gas (mar'23), natural gas (mar'23), ice brent crude (apr'23), investment strategy, markets, business news, oil and gas, breaking news: markets,
Source: https://www.cnbc.com/2024/08/27/crude-oil-prices-today.html