Oil tumbled to the lowest levels since early January as long-term headwinds overwhelmed the positive sentiment from a strong US jobs report.
Brent crude, the global benchmark, dropped below $80 a barrel, while West Texas Intermediate slid to less than $74 a barrel. Futures for both grades climbed earlier in the session as record-low US unemployment figures spurred optimism that demand would hold up. But those gains evaporated as concerns about swelling US stockpiles and weaker-than-expected C ....
06 Feb 2023
Cenkos: Oil & Gas Sector -- 88 Energy, Trinity Exploration & Production, Chariot, Diversified Energy, Wentworth Resources, Jadestone Energy, Shell, Gulf Keystone Petroleum, Panoro Energy, Hartshead Resources, OKEA ASA, ExxonMobil, PetroTal Corp, Arrow Expl
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Cenkos: Oil & Gas Sector -- 88 Energy, Trinity Exploration & Production, Chariot, Diversified Energy, Wentworth Resources, Jadestone Energy, Shell, Gulf Keystone Petroleum, Panoro Energy, Hartshead Resources, OKEA ASA, ExxonMobil, PetroTal Corp, Arrow Expl
Falcon Oil & Gas Ltd. (FOG:LON), 6.6 | 88 Energy Limited (88E:LON), 0.2 | Chariot Limited (CHAR:LON), 8.7 | Diversified Energy Company PLC (DEC:LON), 1,085 | Empyrean Energy PLC (EME:LON), 0.5 | GETECH Group plc (GTC:LON), 8.6 | Trinity Exploration & Production Plc (TRIN:LON), 39.0
- Published:
06 Feb 2023 -
Author:
James McCormack -
Pages:
8
Oil tumbled to the lowest levels since early January as long-term headwinds overwhelmed the positive sentiment from a strong US jobs report.
Brent crude, the global benchmark, dropped below $80 a barrel, while West Texas Intermediate slid to less than $74 a barrel. Futures for both grades climbed earlier in the session as record-low US unemployment figures spurred optimism that demand would hold up. But those gains evaporated as concerns about swelling US stockpiles and weaker-than-expected C ....