Page 20 - John Kilduff News Today

Oil fell on Friday as the release of some hostages in Gaza reduced the geopolitical risk premium ahead of next week's OPEC+ meeting to decide on production cuts in 2024. Brent crude futures settled down 84 cents, or 1%, at $80.58 a barrel, while U.S. West Texas Intermediate crude fell $1.56, or 2%, from Wednesday's close to $75.54. The first group of hostages freed from captivity in Gaza returned to Israel on Friday, on the first day of a planned four-day truce during which further e...

OPEC+ has moved closer to a compromise with African oil producers on 2024 output levels

Brent crude futures settled down 84 cents, or 1%, at $80.58 a barrel, while US West Texas Intermediate crude fell $1.56, or 2%, from November 22s close to $75.54. There was no settlement for WTI on Thursday owing to the US Thanksgiving holiday.

A "stunned" oil market is looking for stability after OPEC's meeting delay as traders digest the "carnage that the price action has endured," according to PVM.

HOUSTON: Oil prices climbed more than 2% on Monday (Nov 20) as further supply cuts in Opec+ production are expected to be announced following a meetin...

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OPEC+ considers additional oil supply cuts; US oil rig count rises in biggest weekly hike since Feb

Oil Rebounds 4 Post Week long Selloff But Falls For Fourth Consecutive Week

The bearish narrative is driven by worries that supply is increasing as demand threatens to slow in the U.S. and China.