-Oil prices edged lower early on Tuesday, coming off gains made the previous day as concerns about the global economic backdrop outweighed supply worries raised when Saudi Arabia announced its biggest output cut in years. Brent crude futures slipped 27 cents to $76.44 a barrel by 0411 GMT.
Oil prices edged lower on Tuesday, giving up most of the prior session's gains that followed an announcement by the world's top exporter, Saudi Arabia, that it would further cut output. Brent crude futures were down 23 cents, or 0.3%, at $76.48 a barrel at 0020 GMT.
U.S. natural gas futures rose about 3% on Monday on forecasts for low wind power, warmer weather and
higher air conditioning demand over the next two weeks than previously expected, rising exports to ...
U.S. crude oil exports, already running close to a record level hit in March, should get a further boost next month from deep production cuts in Saudi Arabia, analysts said on Monday, noting that this will also further deplete U.S. crude inventories, which have been hovering near historic lows.
Airlines took aim at Europe over green fuel mandates and its failures to stem France's air traffic control strikes as they weigh on carrier capacities at a global airlines meeting in Istanbul on Monday.
U.S. natural gas futures soared 5% on Monday on forecasts for low wind power, warmer weather and higher
air conditioning demand over the next two weeks than previously expected, rising exports to ...
European prompt power prices rose on Monday on higher demand forecasts for the next day. German day-ahead baseload power traded at 96 euros per megawatt hour at 0927 GMT, up 11.6% from the price paid for Monday. The equivalent French contract was at 84 euros, up 10.9% from the price paid for Monday delivery.
* WTI jumps as much as $3 in early trade, Brent gains over $2. * Saudi Arabia to cut output on top of OPEC+ extensions. * OPEC+ meet, Saudi cut could boost oil prices -analysts. By Florence Tan and Emily Chow.
A global shortfall in crude oil supply is set to deepen in the third quarter as the world's top exporter Saudi Arabia pledged extra output cuts from July in a move likely to push Brent towards $100 a barrel by the end of the year, analysts said.
A global shortfall in crude oil supply is set to deepen in the third quarter as the world's top exporter Saudi Arabia pledged extra output cuts from July in a move likely to push Brent towards $100 a barrel by the end of the year, analysts said.
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