Wall Street was seen drifting on Monday, with the slightly down by 0.1% in early trading, following its second consecutive losing week. The was up by 22 points or 0.1%, standing at 34,640 as of 9:45 a.m. Eastern time, while the was also down by 0.1%. This market behavior comes…

Gold prices experienced a modest increase on Monday, continuing the upward trend from the previous week. This comes as the U.S. dollar rally, which has previously exerted downward pressure on the value of the precious metal, appears to be stabilizing in anticipation of an upcoming Federal Reserve policy meeting. In…

Investing.com – Oil bulls pressed ahead Monday with the momentum they had gained in the past three weeks, closing in on the Saudi wish for triple-digit pricing, as markets awaited the Federal Reserve’s verdict on U.S. inflation creeping again from high energy costs. The Fed’s policy-makers aren’t expected to raise…

Oil prices are projected to reach $100 a barrel in the short term due to recent developments in Saudi Arabia and Russia, according to Citi. The firm adjusted its third- and fourth-quarter oil balance forecasts higher on Monday following last week’s extension of oil output cuts by the two countries…

(Reuters) -U.S. oil output from top shale-producing regions is on track to fall for a third month in a row in October to the lowest level since May 2023, the U.S. Energy Information Administration (EIA) said in its monthly drilling productivity report on Monday. U.S. oil output is expected to…

By Nia Williams CALGARY, Alberta (Reuters) – Alberta Premier Danielle Smith said on Monday she wanted to announce the details of investment tax credits to support carbon capture and storage (CCS) projects at the COP 28 climate summit in Dubai at the end of this year. Smith made the announcement…

Analysts from Société Générale (EPA:) have warned that the U.S. benchmark for crude futures, West Texas Intermediate (WTI), could be susceptible to a near-term downturn, despite reaching its highest close since November 7 on Monday. The rapid rally, fueled by speculators, saw WTI close at $91.48 per barrel on the…

Oil prices are expected to surge towards $100 per barrel in the short term due to output cuts and geopolitical tensions, according to a recent note by Citi’s global head of commodity research Ed Morse and his team. However, the analysts believe these elevated levels are not sustainable and predict…

By Stephanie Kelly and Andrew Hayley (Reuters) – Oil prices rose on Tuesday for the fourth consecutive session, as weak shale output in the U.S. spurred further concerns about a supply deficit stemming from extended production cuts by Saudi Arabia and Russia. U.S. West Texas Intermediate crude futures rose 99…

By Jeff Mason and Jarrett Renshaw WASHINGTON (Reuters) -The U.S. Energy Department has talked to oil producers and refiners to ensure stable fuel supplies at a time of rising gasoline prices, Jared Bernstein, head of the White House Council of Economic Advisers, said on Wednesday. Rising gasoline prices were largely…