After staying in the low- to mid-$60 per barrel range for the past several weeks, oil prices jumped up north of $70, thanks to the back-and-forth airstrikes between Israel and Iran. Patrick DeHaan with Gasbuddy.com said this is the latest in a long list of issues that investors have had to digest this year, including tariffs, trade wars, and Russia/Ukraine.
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Oil prices moved higher in Monday’s trade, spurred primarily by OPEC’s recent announcement that it would increase production next month by over 400,000 barrels. While that is a hefty increase, Patrick DeHaan with Gasbuddy.com said the announce...
The seesaw action of oil prices continues, as West Texas and Brent traded slightly higher in Tuesday morning's action; $62 and $65 per barrel respectively. Patrick DeHaan with Gasbuddy.com said oil prices remain challenged compared to where they started the year.
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After weeks of speculation, OPEC made it official this weekend, announcing they will restore oil production at a faster clip than expected. Patrick DeHaan with Gasbuddy.com said the increased production will start in June.
“Raising production by over 400,000 barrels a day," DeHaan noted. "OPEC has really b...
Iran, Venezuela, peace talks between Ukraine and Russia, and the struggling Chinese economy, there's lot for investors, specifically oil investors to focus on these days. Patrick DeHaan with GasBuddy.com said that’s been the pattern for the oil community for the past two months.
“Essen...