Linea Mercati Interview 2/6/24
February 7, 2024Linea Mercati Interview 2/7/24
February 8, 2024Crude oil futures are higher ahead of the EIA’s weekly inventories report, which is expected to show builds in crude and gasoline stocks and a draw on stocks of distillates. Analysts note a smaller-than-expected increase in crude stocks reported by the API and the EIA’s forecast that U.S. crude oil production will decrease slightly after this month’s recovery from January’s weather-induced declines, and not exceed December’s record 13.3 million barrels a day until February 2025. “Prices are stabilizing and a near-term rise to $76 should not be ruled out,” says Peter Cardillo, chief market economist at Spartan Capital. WTI for March delivery is up 0.6% at $73.72 a barrel. April Brent is up 0.5% at $78.97 a barrel.