Some volatility in the oil market is likely this week, according to Barani Krishnan, a senior commodities analyst at uk.Investing.com.
Louisiana and Texas are set to gain thousands of energy jobs in the first part of 2023, LSU said in its 2023 Gulf Coast Energy Outlook.
‘The markets started the week with a strong, risk off sentiment which accelerated the down move in oil’.
Oil posted a large loss the first week of trading in the new year as demand uncertainty continued to hang over the market.
Oil rallied after US crude stockpiles rose less than anticipated, countering the dour outlook reflected by Saudi Arabia’s decision to cut its prices.
Oil declined as broader market sentiment soured and mild winter temperatures in may parts of the globe eased fears of an energy crisis.
Executives from 150 oil and gas firms have their say.
‘I think oil will go upwards of $140 a barrel once Asia fully reopens’.
The EIA’s latest gasoline and diesel fuel update has revealed what consumers were paying for in a gallon of gasoline and diesel back in November.
