Oil posted the biggest weekly decline since early April on growing signs that a global economic slowdown is curbing demand. Prices are near the lowest level in six months.
West Texas Intermediate settled at $89 a barrel, ending the week nearly 10% lower. US gasoline consumption has dropped, stoking demand concerns, while low liquidity has added to volatility. Supplies from Libya also picked up, helping to shrink key oil futures time-spreads and ease the tightness in the market.
The pullbac ....
08 Aug 2022
Cenkos: Oil & Gas -- Getech Group, Longboat Energy, Valeura Energy, Genel Energy, bp, EnQuest, SDX Energy, Eco (Atlantic) Oil & Gas, Occidental Petroleum, ConocoPhillips, Vaalco Energy, Phoenix Global Resources, Sirius Petroleum, Tullow Oil, Equinor, Sunco
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Cenkos: Oil & Gas -- Getech Group, Longboat Energy, Valeura Energy, Genel Energy, bp, EnQuest, SDX Energy, Eco (Atlantic) Oil & Gas, Occidental Petroleum, ConocoPhillips, Vaalco Energy, Phoenix Global Resources, Sirius Petroleum, Tullow Oil, Equinor, Sunco
Falcon Oil & Gas Ltd. (FOG:LON), 7.8 | 88 Energy Limited (88E:LON), 0.2 | Chariot Limited (CHAR:LON), 9.0 | Diversified Energy Company PLC (DEC:LON), 1,098 | Empyrean Energy PLC (EME:LON), 0.6 | GETECH Group plc (GTC:LON), 8.2 | Trinity Exploration & Production Plc (TRIN:LON), 40.5
- Published:
08 Aug 2022 -
Author:
James McCormack -
Pages:
8
Oil posted the biggest weekly decline since early April on growing signs that a global economic slowdown is curbing demand. Prices are near the lowest level in six months.
West Texas Intermediate settled at $89 a barrel, ending the week nearly 10% lower. US gasoline consumption has dropped, stoking demand concerns, while low liquidity has added to volatility. Supplies from Libya also picked up, helping to shrink key oil futures time-spreads and ease the tightness in the market.
The pullbac ....