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The Latest Breaking News from OPEC

Ukraine's Zelenskiy visits Saudi, seeks Arab League support for his people

Ukrainian President Volodymyr Zelenskiy attended a summit of the Arab League in Saudi Arabia on Friday to canvas support for his people, while Saudi Crown Prince Mohammed bin Salman expressed his readiness to mediate in the war between Moscow and Kyiv.

Reuters

Dollar Strength Weighs on Crude Prices

June WTI crude oil (CLM23 ) this morning is down -0.88 (-1.21%), and June RBOB gasoline (RBM23 ) is up +0.20 (+0.08%). June Nymex natural gas (NGM23 ) is up +0.153 (+6.47%). Crude oil and gasoline prices this morning are mixed, with gasoline climbing to a 3-week high. A rally...

Barchart

Putin clashes with own finance minister over damage done to Russian economy by oil sanctions

Putin appears to downplay Anton Siluanov’s concerns by saying the situation is ‘absolutely stable’

The Independent UK

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Crude Sharply Higher as Risk-On Sentiment Outweighs EIA Crude Inventory Build

June WTI crude oil (CLM23 ) on Wednesday closed up +1.97 (+2.78%), and June RBOB gasoline (RBM23 ) closed up +9.01 (+3.63%). June Nymex natural gas (NGM23) is down -0.024 (-1.01%). Crude oil and gasoline prices Wednesday rallied sharply, with gasoline climbing to a 2-week high. Wednesday's main bullish factor...

Barchart

Crude Prices Climb on Outlook for Stronger U.S. Fuel Demand this Memorial Day

June WTI crude oil (CLM23 ) this morning is up +1.10 (+1.57%), and June RBOB gasoline (RBM23 ) is up +1.08 (+0.44%). June Nymex natural gas (NGM23 ) is up +0.109 (+4.81%). Crude oil and gasoline prices this morning are moderately higher. A weaker dollar today is giving energy prices...

Barchart

Best Energy Stock to Buy in May

Although oil and gas prices are nowhere close to last year's highs, they have been moving up lately. Due to the reopening of the Chinese economy, global oil demand is expected to increase. Moreover, production cuts by the OPEC+ nations are expected to drive up oil prices. Amid this backdrop,…

StockNews.com

Crude Prices Retreat on an Unexpected Build in EIA Crude Stocks

June WTI crude oil (CLM23 ) on Wednesday closed down -1.15 (-1.56%), and June RBOB gasoline (RBM23 ) closed up +1.50 (+0.60%). Crude oil and gasoline prices Wednesday settled mixed, with gasoline climbing to a 1-week high. A weaker dollar Wednesday was supportive of energy prices. Also, signs of strength...

Barchart

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Crude Prices Fall as Weekly EIA Crude Inventories Unexpectedly Climb

June WTI crude oil (CLM23 ) this morning is down -0.92 (-1.25%), and June RBOB gasoline (RBM23 ) is up +1.76 (+0.71%). June Nymex natural gas (NGM23 ) is down -0.073 (-3.22%). Crude oil and gasoline prices this morning are mixed, with gasoline climbing to a 1-week high. A weaker...

Barchart

2 Energy Stocks Outperforming Wall Street

The energy sector thrived in 2022 and is envisioned to remain buoyed in the foreseeable future due to soaring demand amid the reopened Chinese economy. Given this backdrop, quality energy stocks Hess Midstream LP (HESM) and CVR Energy (CVI), outperforming Wall Street, could be worth buying now. Read on….

StockNews.com

3 Energy Stocks to Watch as Energy Prices Rise

The energy sector is well-positioned to witness a positive growth trajectory on the backs of the reopening of China and production cuts by OPEC+. Considering that the combination could raise oil prices in the near term, quality energy stocks Scorpio Tankers (STNG), North European Oil Royalty Trust (NRT), and Epsilon…

StockNews.com

Biden dispatching top aide to meet with Saudi crown prince

President Joe Biden is dispatching one his top advisers to Saudi Arabia to meet with Crown Prince Mohammed bin Salman, the de facto leader of the oil-rich kingdom

The Independent UK

Crude Prices Weighed Down by Global Demand Concerns

June WTI crude oil (CLM23 ) this morning is down -0.15 (-0.22%), and June RBOB gasoline (RBM23 ) is down -0.08 (-0.03%). June Nymex natural gas (NGM23 ) is down -0.049 (-2.26%). Crude oil and gasoline prices this morning are modestly lower, with crude falling to a 5-month low and...

Barchart

US stocks fall after latest Fed rate hike as oil prices slide

New York (AFP) - Wall Street stocks declined along with the dollar after the Federal Reserve's latest interest rate hike Wednesday, while US oil prices slid below $70 a barrel amid recession worries.

AFP

Stocks steady, dollar dips before Fed rate decision

London (AFP) - European and US stock markets steadied and the dollar dropped Wednesday ahead of the Federal Reserve's latest decision on US interest rates.

AFP

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AFP

Stocks rise, dollar lower before Fed rate decision

London (AFP) - European and US stock markets advanced and the dollar dropped Wednesday with all eyes on the Federal Reserve's latest decision on US interest rates.

Investors Business Daily

Oil Prices Skid To Lowest Level Since March; Traders Brace For Recession

U.S. crude futures tanked Tuesday and continued to slip Wednesday, hitting 5-week lows. The oil price decline dragged down energy stocks.

AFP

European stocks rise, dollar lower before Fed rate decision

London (AFP) - European stock markets advanced and the dollar dropped Wednesday with all eyes on the Federal Reserve's latest decision on US interest rates.

Asharq Al-Awsat

Kuwait Sets June 6 Date for Legislative Elections

Kuwait on Wednesday set June 6 as the date for its legislative elections, state news agency Kuna reported, two days after the parliament was dissolved by royal decree. The parliament was only reinstated in March based on a Constitutional Court ruling following a previous dissolution. The OPEC member has seen…

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Barchart

Crude Prices Close Sharply Lower on Global Energy Demand Concerns

June WTI crude oil (CLM23 ) on Tuesday closed down -4.00 (-5.29%), and June RBOB gasoline (RBM23 ) closed down -11.47 (-4.50%). Crude oil and gasoline prices Tuesday sold off sharply, with crude posting a 5-week low and gasoline posting a 6-week low. Crude prices are under pressure on concern...

StockNews.com

Sector Investors: This Industry Is the Best Bet in 2023 and 3 Stocks Pointing You in the Right Direction

After a strong 2022, the energy sector could show strength this year as well due to production cuts by OPEC+, the long lead time to ramp up new supply and refining capacity, and the revival of demand in China. Therefore, it could be wise to buy fundamentally strong energy stocks…

Investors Business Daily

BP, Energy Stocks Sink, As Oil Prices Dive To $72 On Recession Concerns

Energy stocks sank Tuesday as U.S. crude futures tumbled amid interest rate hike concerns, adding to the murky 2023 outlook for oil prices.

Asharq Al-Awsat

OPEC: We Do Not Target Oil Prices, IEA Should be 'Very Careful'

The International Energy Agency (IEA) should be "very careful" about discouraging investment in the oil industry, which was vital for global economic growth, announced OPEC Secretary General Haitham al-Ghais. Ghais warned that such statements could lead to oil market volatility in the future. He said that the Organization of the…

Asharq Al-Awsat

Oil Rises as Falling US Inventories Refocus Market on Demand

Oil rose on Wednesday after plunging more than 2% in the previous session as reports of falling US crude oil and fuel inventories refocused investors on robust demand in the world's top oil consumer. Brent crude climbed by 30 cents, or 0.4%, to $81.07 a barrel by 0358 GMT. US…

StockNews.com

3 Energy Growth Stocks to Pump Into Your Portfolio

Rising demand for oil and gas amid Chinese economic recovery and production cuts could push oil prices up in the upcoming months. Given this backdrop, quality energy stocks NexTier Oilfield Solutions (NEX), NOW Inc. (DNOW), and NCS Multistage Holdings (NCSM) could be solid portfolio additions now. Read on….

The New Daily

Petrol prices fall below $2 per litre, amid oil market uncertainty

Australian motorists are enjoying relief as petrol prices fall from Easter highs after a recent bump in oil prices.

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