WTI Recovers into the $72s Territory for the Close
05.22.2023 By TankTerminals.com News - NEWS

May 22, 2023 [FXSTREET]-  WTI is trying to correct but remains down on the day as the black gold consolidates into the weekend at around $71.85.

 

From a point of view from analysts at TD Securities, ´´the positioning set-up in energy markets remains extremely supportive of the medium-term outlook, given that money manager participation in crude markets is at least at a decade low.´´

The analysts argued that there are substantial capital inflows moving into the sector as fundamentals begin to tighten in the second half of this year, particularly given that demand data continues to beat expectations.

´´Over the near-term, lower liquidity continues to whipsaw trend followers, with poor sentiment keeping a lid on prices while physical markets continue to work through the inventory overhang.´´

Pro Trial: Access 12,600 Tank Terminal and Production Facilities

12,600 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

UAE Invests Billions in AI to Diversify Economy Beyond Oil
11.13.2024 - NEWS
November 13, 2024 [Oil Price]- The United Arab Emirates’ state-owned energy giant Abu Dhabi Nat... Read More
Gulf Energy Transition: Assessing Saudi and Emirati Goals
11.13.2024 - NEWS
November 13, 2024 [The Washington Institute]- On October 29, during Saudi Arabia’s annual Futur... Read More
How will The Energy Sector Fare Under Donald Trump?
11.13.2024 - NEWS
November 13, 2024 [Investing Daily]- The energy sector experienced a notable boost following Dona... Read More
PNOC, Pertamina Partner on LNG Infrastructure, Supply Chain
11.13.2024 - NEWS
November 13, 2024 [Manila Bulletin]- State-run Philippine National Oil Company (PNOC) has signed ... Read More