Oil futures drift a shade lower early Thursday as investors watch debt-ceiling talks.
Oil futures edged lower early Thursday as investors kept tabs on debt-ceiling negotiations, a day after crude bounced to its highest finish in a week.
Price actionMarket drivers Crude oil futures found support Wednesday after upbeat comments by President Joe Biden and House Speaker Kevin McCarthy on talks toward lifting the debt ceiling and averting a potentially catastrophic default by the federal government. See:... Oil futures edged lower early Thursday as investors kept tabs on debt-ceiling negotiations, a day after crude bounced to its highest finish in a week.
Price action Market drivers Crude oil futures found support Wednesday after upbeat comments by President Joe Biden and House Speaker Kevin McCarthy on talks toward lifting the debt ceiling and averting a potentially catastrophic default by the federal government.Talks have yet to produce a breakthrough, however.Analysts said concerns over supply may be undercutting crude, which was struggling to extend gains as other assets perceived as risky remained on the rise.
“The fact that Investors continue to cheer that the two most extensive markets overhangs are easing and oil is not bouncing higher in tandem with broader risk sentiment today continues to suggest supply, not demand, is hurting the bullish thesis with the ubiquitous dark fleets moving Russian and Iraqi oil to destinations around the world and keep inventories topped,” said Stephen Innes, managing director of SPI Asset Management, in a note.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Major League Soccer expected to announce San Diego expansion team ThursdayThe league's 30th franchise, owned by Egyptian billionaire Mohamed Mansour and the Sycuan tribe, would begin play in 2025 at Snapdragon Stadium
Read more »
Yellen meeting with Bank of America, JPMorgan, Citi CEOs Thursday: reportTreasury Secretary Janet Yellen will reportedly meet with the CEOs of Bank of America, Citigroup, JPMorgan and other big banks amid debt ceiling threat and bank crisis.
Read more »
Salt Lake officials ask for help finding woman missing since ThursdaySalt Lake officials are asking the public to help them find a woman who has been missing since last week.
Read more »
Casa de Vino 57 hosting St. Augustine Wine Walk this Thursday for residents and visitors alikeA local wine shop is presenting a “sip-and-stroll” tour through the Ancient City Friday evening.
Read more »
Ozone Action Day alert issued for Thursday in San AntonioThursday, May 18, has been declared an Ozone Action Day in San Antonio by The Texas Commission on Environmental Quality.
Read more »
Buffalo Grove High School will remain closed Thursday as result of fireBuffalo Grove High School will remain closed Thursday as a result of a small fire in the school Tuesday night, Northwest Suburban High School District 214 officials said.
Read more »