A raft of data has demonstrated that inflation is proving stubborn, consumer confidence is falling, and the U.S. economy is growing more slowly than expected.
Crude oil futures moved slightly higher after Israel Prime Minister Benjamin Netanyahu dismissed hopes of a proposed hostage deal would prevent a Rafah attack.
Israel is waiting for Hamas to respond to a cease-fire proposal, an Israeli official told NBC News.
Exxon CEO Darren Woods said the technology is currently unaffordable with CO2 removal costing between $600 to $1,000 per ton.
Chevron produced 1.57 million barrels of oil equivalent daily in the U.S. for the quarter, an increase of 35% over the same period last year.
Oil prices could rise to $102 per barrel if a major conflict in the Middle East breaks out involving one or more oil producers, according to the World Bank.
Gross domestic product was much softer than expected in the first quarter, which could weigh on crude oil demand.
Traders are waiting for the latest U.S. petroleum inventory data with the market’s focus shifting back to supply and demand fundamentals.
The chief executive of the world’s largest wealth fund says there are many wildcards in financial markets right now.
The House of Representatives passed legislation over the weekend that would broaden sanctions against Iran’s oil exports