Page 21 - Texas Intermediate News Today

Consumer confidence and PCE data the highlights of a shortened trading week

Global oil prices steadied on Tuesday as the prospect of OPEC+ maintaining oil supply curbs at its June 2 meeting and hopes of strong US summer fuel demand balanced concern about higher-for-longer US interest rates. On Monday, oil rose over 1% in muted trade owing to public holidays in Britain and the U.States, with hopes of strong fuel demand with the start of the US summer driving and vacation season providing support.

Risk sentiment has faltered in recent weeks as the focus shifts to a plethora of economic data that is released later this week.

Oil prices rose Tuesday on tensions in the Middle East while stock markets wavered as investors awaited key inflation data later this week.

With its low break-even costs and reliable regulatory framework, the Permian Basin presents an appealing opportunity for oil and gas investors seeking sustained growth and profitability over the long haul. The current favorable oil pricing environment further enhances the business outlook in the United States' most prolific basin. Rising Oil Prices

AAA reports Oregon's average price for a gallon of gas fell six cents over the last week.

AAA reports Oregon's average price for a gallon of gas fell six cents over the last week.

It would be wise for investors to monitor three prominent energy companies operating in the Permian, like ExxonMobil (XOM), Chevron (CVX) and Diamondback (FANG).

AAA reports Oregon's average price for a gallon of gas fell six cents over the last week.

24/7 Wall Street Insights The Dow Jones Industrial Average recently cracked 40,000 for an all-time new high. The 30 stocks that comprise the DJIA have not uniformly boosted the average at the same time. Amazon, Honeywell and Chevron are three Dow stocks that may have some sizable upside potential left for the remainder of 2024, […]