Global Oil & Gas: Oil Unchanged as Market Struggles for Direction

Global Oil & Gas: Oil Unchanged as Market Struggles for Direction

Oil narrowly held onto a four-day winning streak as investors weighed a mixed supply-and-demand outlook. West Texas Intermediate settled unchanged near $78 a barrel, erasing an equities-led morning rally. The US benchmark has struggled for direction — crossing above its 200-day moving average just one week after breaching it on the way down. Prices earlier tested the 13-day moving average, another key resistance level, before retreating.  While oil demand is healthy, according to the International…

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Markets: Barkindo concerned over anti-OPEC bill, Trump tweets

Markets: Barkindo concerned over anti-OPEC bill, Trump tweets

OPEC members are increasingly concerned about the passage of anti-OPEC legislation in the US while President Donald Trump’s oil price-focused tweets have added new uncertainties to the market, Mohammad Barkindo, OPEC’s secretary general, said Tuesday at CERAWeek by IHS Markit in Houston.

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