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Oil Steadies After Surging to 10 Month High
Oil steadied after surging to a 10-month high as broader risk-off sentiment cooled a piping hot rally driven by OPEC+ supply cuts and comments from Saudi Arabia’s energy minister shying away from any change in course. Shrinking supplies have ignited a flurry of predictions that $100 oil could return on a roster than includes industry heavyweights such as Chevron Corp. Chief Executive Officer Mike Wirth and traditional bears at Citigroup Inc. Global benchmark Brent futures neared $96 a barrel for the first time since November before paring gains and settling at $94.34. “The new upside target” sits near $95 for ... (full story)
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- Posted: Sep 19, 2023 8:15pm
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 65
