TotalEnergies Sees Tough Oil Market Outlook
'Oil markets remain volatile', Total said in its earnings statement Thursday.
'Oil markets remain volatile', Total said in its earnings statement Thursday.
Oil rose over 1% as trade negotiations calmed tariff fears and triggered technical buying.
'What I see tells me the oilfield services market will be softer than I previously expected over the short to medium term', Halliburton Chairman, President, and CEO Jeff Miller said.
'There is likely to be a period of significant trader confusion', Standard Chartered Bank analysts warned.
China's imports of three major energy products from the US hit almost zero in June.
Mexico is looking to raise between $7 billion and $10 billion with a debt sale to shore up resources for battered state-owned oil company Petroleos Mexicanos, people familiar with the matter said.
Rising Cushing and distillate stockpiles pressured prices before risk-asset optimism spurred a rebound.
Wael Makarem, Financial Markets Strategists Lead at Exness, said crude oil futures 'remained under some pressure'.
The unprecedented collapse of Spain's power grid left more than 50 million people without electricity for several hours across the Iberian peninsula and small parts of France on April 28.
Oil fell for a third day as August contract rollovers and tariff concerns drove volatility.