Oil prices have been climbing steadily since the OPEC meeting sent them crashing to multi-month lows, and the Fed could send them higher still.
Oil prices have bounced back after the last OPEC announcement sent them crashing, and the U.S. Federal Reserve could send them higher still with optimistic messaging.- Oil markets were eagerly anticipating the start of peak driving season in the summer, but gasoline demand so far has been mostly disappointing, with US consumption some 2% lower year-over-year.
The states of Texas, Louisiana, and Mississippi sued the US government to block the Biden administration’s proposed rules that require offshore producers without sufficient reserves to provide some $7 billion in decommissioning funds.Russia Becomes Europe’s Largest Gas Supplier Again. Overtaking the United States, Russia has become the largest supplier of natural gas to Europe despite having curbed pipeline deliveries to a trickle, accounting for 14% of the continent’s imports in May.
WTI Brent Supply Demand OPEC Energy Gasoline
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