Oil prices drift lower but remain stuck in narrow range as market struggles to find catalysts

📆 21-05-24 14:52:00
📰 CNBC

⏱ Reading Time:
32 sec. here
11 min. at publisher
📊 Quality Score:
News: 47%
Publisher: 72%

Markets Nouvelles

Breaking News: Markets,Oil And Gas,Investment Strategy

U.S. crude oil and global benchmark Brent have traded in a $3 range this month since selling off from April highs.

Crude oil futures fell more than 1% on Tuesday in the absence of major market catalysts to support prices.

U.S. crude oil and global benchmark Brent have traded in a $3 range this month since selling off from April highs after traders rolled back geopolitical risk premium as fears of a wider Middle East war eased. Investors are now focusing more on fundamentals but the lack of near-term catalysts will likely keep prices rangebound for the time being, Helima Croft, head of commodity strategy at RBC Capital Markets, told clients in a Tuesday note.Production cuts by a coalition of OPEC+ members have provided a floor for oil prices after last month's selloff. The cartel will meet next weekend to review its production policy.

Écrire un Commentaire

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Saudi Arabia's non-oil business activity growth steady in April-PMISaudi Arabia's non-oil business activity growth steady in April-PMI
La source: Investingcom - 🏆 450. / 53 Lire la suite »