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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.
Two major pieces of news have come from Trump! Within a few hours after the inauguration ceremony, Trump will accomplish these significant tasks.
According to a report from Bloomberg on Thursday (January 9), the recently elected president of the USA, Donald Trump, plans to issue a series of executive orders within a few hours after his inauguration ceremony on January 20, addressing issues such as immigration, Energy, federal employees, and regulatory reforms. This is part of his comprehensive effort to swiftly implement his policy agenda after taking office.
Texas Capital Securities Maintains EOG Resources(EOG.US) With Buy Rating, Cuts Target Price to $149
Oil Prices Grow Amid OPEC+ Decision to Extend Cuts – ING