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• What's Affecting Oil Prices This Week? (April 29, 2024)
  The price of Brent crude ended last week at $88.06 after closing the...
  The price of Brent crude ended last week at $88.06 after closing the previous week at $87.39. The price of WTI ended the week at $83.68 after closing the previous week at $83.24. The price of DME Oman crude ended the week at $89.99 after closing the previous week at $88.02.
  
  As we expected, the aftermath of the limited attack on Iran by Israel has resulted in reducing geopolitical tensions with Iran not responding with a counterattack. Also, the economic news of last week did not provide any additional support for oil prices.  READ MORE
  
  
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• ExxonMobil, Turkey discussing potential LNG deal
  Talks are underway between Turkey and ExxonMobil regarding...
  Talks are underway between Turkey and ExxonMobil regarding a potential multibillion-dollar deal for 2.8 tons of liquefied natural gas, according to the Financial Times. Turkey is trying to diversify its portfolio of suppliers, according to Energy Minister Alparslan Bayraktar.
  

  Turkey's reported deal with Exxon comes at a time when Russian exports to Europe are falling as Europe increases its LNG purchases from global producers to cut its imports of Russian pipeline gas in response to the conflict in Ukraine. Russian exports of liquefied natural gas (LNG) to Europe fell 1.9% to 15.8 million metric tons in 2023, according to LSEG data.
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• Closing Oil & Gas Prices
  Benchmark U.S. crude oil for June delivery ...
  Benchmark U.S. crude oil for June delivery fell $1.22 to $82.63 per barrel Monday. Brent crude for June delivery fell $1.10 to $88.40 per barrel.
  
  Wholesale gasoline for May delivery fell 1 cent to $2.75 a gallon. May heating oil fell 2 cents to $2.53 a gallon. June natural gas rose 11 cents to $2.03 per 1,000 cubic feet.
  
  
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• MarketWatch: U.S. stocks close higher as investors eye tech earnings, Fed rate-policy meeting
  U.S. stocks ended higher on Monday as investors continue to digest tech...
  U.S. stocks ended higher on Monday as investors continue to digest tech earnings and await the Federal Reserve's policy meeting later this week.
  
  The Dow Jones Industrial Average went up 146.43 points or 0.4% to end at 38386.09. The S&P 500 rose 16.21 points or 0.3% to close at 5,116.17. The Nasdaq Composite gained 55.18 points or 0.4% to end at 15,983.08.
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• Oil Prices Start the Week With a Loss as Demand Concerns Grow
  Crude oil prices began the week with a loss in midmorning Asian...
  Crude oil prices began the week with a loss in midmorning Asian trading, reversing the climb from last week after the latest U.S. inflation data suggested there will not be any rate cuts anytime soon.
  
  Signals from Israel that a ceasefire with Hamas is still a possibility also helped bring oil down, with Brent crude slipping below $89 per barrel and West Texas Intermediate at a bit over $83.
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