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Brent crude futures surged over 4%! Chevron and Occidental Petroleum both rose over 2%, and Goldman Sachs emphasized that oil demand will expand due to the cold winter.
On Friday, influenced by the decline in USA Crude Oil Product inventories, the international crude oil price benchmark—Brent Futures price rose by over 2%, breaking through $78.5 per barrel.
Oil Remains Well Supported – ING
The "monsters" in the oil market are starting to retreat, and oil prices are about to reveal their true colors.
Algorithm traders who have been dominating the Crude Oil Product market are withdrawing, and traders focused on supply and demand fundamentals are expected to regain control.
Eni Poised for €3B in Asset Sales This Year, UBS Says in Downgrade
Oil Prices Grow Amid OPEC+ Decision to Extend Cuts – ING
Eni's Limited Room to Surprise Investors Could Cap Share-Price Rise -- Market Talk