Stratas Advisors expect that there is some room for oil prices to move higher this week, but the price of Brent crude oil will struggle to breakthrough $82.50.
Recent geopolitical news also provided some support for oil prices with the rhetoric heating up between Iran and Israel.
The EU’s aggressive climate stance is wreaking economic havoc and mounting regulations could hurt the U.S. LNG industry.
For the upcoming week, Stratas Advisors think oil prices will get a boost from the oil demand associated with the holiday season and from recent geopolitical news.
Stratas Advisors expect that there is some room for oil prices to move higher this week, but the price of Brent crude oil will struggle to breakthrough $82.50.
The EU intends to let its gas price cap expire as scheduled at the end of this month, EU diplomats said.
Recent geopolitical news also provided some support for oil prices with the rhetoric heating up between Iran and Israel.
The EU’s aggressive climate stance is wreaking economic havoc and mounting regulations could hurt the U.S. LNG industry.
Oil edged lower on Dec. 26 in light holiday trade as the dollar's strength offset hopes for additional fiscal stimulus in China.
Russia declared a federal emergency on Dec. 26 over an oil spill in the Black Sea.
For the upcoming week, Stratas Advisors think oil prices will get a boost from the oil demand associated with the holiday season and from recent geopolitical news.
One of the keys to pricing is whether global conflicts curtail the flow of oil. They have not.
For the upcoming week, Stratas Advisors expect oil prices will move sideways with more downside risk than upside potential.
President-elect Donald Trump’s policies are expected to benefit the U.S. oil and gas sector, but also bring economic and geopolitical risks.