|
Tension has been rising in the Middle East after attacks on two tankers near the Strait of Hormuz. Adding to oil higher prices was a decline in U.S. crude inventories and the prospect of prolonged supply restraint by OPEC and its allies. WTI Crude is $55.64; Brent is $63.54 this morning.  Source: Reuters.com - By: Alex Lawler - Image: Hamad I Mohammed
0 Comments
Futures climbed 3.8% on Tuesday and steadied this morning. OPEC and its allies will hold their next meeting on July 1-2 to discuss production curbs. Cuts would shrink global inventories by about 500,000 barrels a day in the second half of this year, helping to boost prices. WTI Crude is $53.82; Brent is $61.66 this morning.  Source: Bloomberg.com - By: Alex Naussbaum - Image: Luke Sharrett Traders are not giving adequate consideration to upward oil price pressure based on tanker attacks near the Strait of Hormuz, which could cause significant disruption to crude flows. Oil has lost about 20% since late April as growing inventories and the trade dispute between the U.S. and China cloud the demand outlook. WTI Crude is $51.82; Brent is $60.64 this morning.  Source: Bloomberg.com - By: Heesu Lee and Alex Longley - Image: Alex Kraus China’s industrial output growth is falling to the lowest level in 17 years amid trade tensions with the U.S. Oil markets will have to digest more demand concerns as India began retaliatory tariffs on several U.S. goods yesterday. WTI Crude is $51.93; Brent is $61.30 this morning.  Source: Reuters.com - By: Noah Browning - Image: Edgar Su/File Photo Both sides have said they’re not looking for war, but events have taken on a momentum of their own with the U.S. and Iranian forces bolstering their military presence. WTI Crude is $52.12; Brent is $61.39 this morning.  Sourcec: Bloomberg.com - By: margaret Talev, Stephen Stapczynski & Golnar Motevalli - Image: Bloomberg |
Hours: M - F 8:00 a.m. - 5:00 p.m. CentralTelephone: 214-624-9867Email: jnichols@peqtx.com |
Quotes by TradingView
|
Redhawk Investment Group, LLC offers direct and alternative oil and gas investment opportunities that enable investors to participate in the potential cash flow and the unique tax benefits associated with oil and gas investments. There are significant risks associated with investing in oil and gas offerings. The information contained in this website is for informational purposes only and is not a solicitation to buy or sell any securities. Information on this site is not intended to be used as investment or tax advice. Consult your investment advisor or tax advisor concerning the current tax laws and effects on your personal tax situation.