Benchmark WTI crude gained 1.17% to settle at $72.67 a barrel. Prices have been trading between $70 and $75 over the past few days.
As the June 4 OPEC+ meeting nears, comments by Prince Abdulaziz bin Salman, Saudi Arabia’s energy minister, warning oil short sellers to “be careful” remain significant.
Meanwhile, Alexander Noval, the Russian Deputy Prime Minister, does not anticipate further OPEC+ cuts next month. Meanwhile, natural gas fell 5.46% to close at $2.181 per MMBtu, down nearly 45% since the start of the year.
As US debt ceiling negotiations enter their final round, the ETF United States Oil Fund (USO) To corrected by more than 5% since the beginning of the year. Here is a list of energy stocks that can be influenced by the latest developments in the energy markets.
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