Oil Prices Steady Near Two-Month High Amid Market Optimism
Express News | Dana Deasy, the former CIO of the USA Department of Defense, has been appointed as the Chief Information Officer at Boeing.
Oil prices have risen for five consecutive times, Energy stocks lead the rise in U.S. stocks. What is the market anticipating?
The rise in oil prices is mainly due to the market's expectation of the Trump administration's upcoming sanctions against Iran, Venezuela, and Russia, which will lead to a reduction in Global Crude Oil Product supply, causing Energy Stocks to strengthen and become the stocks with the largest increase this week.
Goldman Sachs: It is expected that Iran's oil supply will decline before Q2, with Brent crude oil projected to reach $78 in June.
Goldman Sachs predicts that Iran's Crude Oil Product production will slightly decrease on Friday.
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Attention Oil & Gas Industry! Biden is about to make a big move, and this time Trump might have no solution...
① The President of the USA, Biden, is said to be issuing an executive order to permanently ban new offshore Oil & Gas development in certain coastal waters of the USA to ensure these areas have eco-friendly protection for coastal regions. ② This order is based on a 72-year-old law that grants the White House broad discretion to permanently protect USA waters from the impacts of Oil & Gas leasing.
Before Trump took office, Biden would prohibit more offshore oil drilling.
According to informed sources, Biden will issue an executive order in a few days to prohibit the sale of new drilling rights in certain areas outside the continental shelf of the USA, but Trump is expected to order the repeal of these protective measures.
U.S. Natural Gas Holds Its Ground Ahead of Storage Data -- Market Talk
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EIA Crude Oil Product inventories decreased by 1.178 million barrels month-on-month, a decrease lower than market expectations.
In the USA, commercial Crude Oil Product inventories excluding the Strategic Reserve decreased by 1.178 million barrels to 0.416 billion barrels, the lowest level since the week of September 20, 2024, with a decline of 0.28%.
Sector Update: Energy
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