The spread between WTI and other benchmarks is widening as several bearish factors combine in the United States to push prices lower.
The gap seems to be widening between WTI and other global crude benchmarks as climbing crude inventories and another SPR release are pushing the U.S. benchmark lower. This week’s release of strong economic data in the U.S. and evidence of a tight labor market has added some macro pressure to oil prices as well, adding to concerns that the Federal Reserve’s hikes might continue for longer. As a result of these bearish developments, WTI moved back below $76 on Friday morning.
up its opposition to the Brussels-proposed deadline, saying a rapid switch would be “suicide” and a “gift” to the Chinese automotive industry. of multi-billion dollar expenses if the White House expects the EPA’s proposed regulation to slash smog and soot pollution from electricity generation, withalone claiming it would need to retrofit about 950 pipeline engines at a cost of $4.1 billion.
its vast forests covering 90% of its territory, having already concluded a $750 million multi-year carbon credit deal with US oil firmplanning to tax electricity exports as pressure is mounting on Oslo to lower power prices to help ease the cost of living, after a big scare in 2022 when low levels of water reservoirs hamstrung generation.
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