U.S. crude oil rises 2%, trades above $70 per barrel as OPEC+ delays production boost
Publishing timestamp: 2024-09-05 12:02:08
Summary
OPEC+ delays planned production hike by two months, U.S. crude stockpiles fall, prices find support. U.S. crude oil rallies above $70 per barrel. Concerns about supply rising as demand softens. Various factors working against OPEC in the coming months. Oil prices and gas stocks fluctuate. Tesla receives buy rating, LNG market expected to grow. China EV sales impact oil demand. Brent crude could fall to $68 per barrel in 2025.
Sentiment: MIXED
Tickers: @NG.1, @CL.1, @RB.1, @LCO.1,
Keywords: oil and gas, rbob gas (mar'23), breaking news: markets, business news, ice brent crude (apr'23), investment strategy, natural gas (mar'23), markets, wti crude (mar'23),
Source: https://www.cnbc.com/2024/09/05/crude-oil-prices-today.html