Page Reader AI | Energy & Utilities Roundup: Market Talk

Energy & Utilities Roundup: Market Talk - WSJ

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Energy Market Fluctuations

Oil futures declined, partially offsetting earlier gains. A decrease in U.S. crude inventories was counteracted by larger-than-anticipated increases in gasoline and diesel supplies.

OPEC+ and Pricing

Aramco adjusted its official selling prices, lowering them for Asia but raising them for Europe and the U.S. Reports suggesting Saudi Arabia favors significant monthly OPEC+ output increases further influenced oil prices downwards.

Geopolitical Developments

President Trump's conversations with Putin and the situation with Iran's nuclear deal are also mentioned as impacting the energy market landscape.

Closing Prices

WTI crude oil settled down 0.9% at $62.85 per barrel, while Brent crude fell 1.2% to $64.86 per barrel.

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.1506 ET – Oil futures give back some of this week’s gains in a volatile session. The 4.3 million barrel drawdown in U.S. crude inventories was offset by bigger-than-expected increases in gasoline and diesel stocks. Aramco cut its official July selling price to Asia by 20 cents a barrel, but raised prices for Europe and the U.S., while a report that Saudi Arabia favors further large monthly OPEC+ output increases after July added downward pressure on oil. President Trump said he had a good conversation with Russia’s Vladimir Putin, but not one that will lead to immediate peace in the Russia-Ukraine conflict. He also said the U.S. needs a definitive answer soon from Iran on a nuclear deal. WTI settles down 0.9% at $62.85 a barrel, and Brent falls 1.2% to $64.86 a barrel. (anthony.harrup@wsj.com)

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Category: Finance

Tags: Energy Utilities oil Market Geopolitics

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