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Shares of Oil and Gas Companies Are Trading Higher Following Reports Suggesting the US Is Preparing Sanctions Against Russian Oil and Gas.
Wolfe Research Downgrades Enterprise Prods Partners to Peer Perform
Plains All American Analyst Ratings
Brent crude futures surged over 4%! Chevron and Occidental Petroleum both rose over 2%, and Goldman Sachs emphasized that oil demand will expand due to the cold winter.
On Friday, influenced by the decline in USA Crude Oil Product inventories, the international crude oil price benchmark—Brent Futures price rose by over 2%, breaking through $78.5 per barrel.
The "monsters" in the oil market are starting to retreat, and oil prices are about to reveal their true colors.
Algorithm traders who have been dominating the Crude Oil Product market are withdrawing, and traders focused on supply and demand fundamentals are expected to regain control.
BP Secures Landmark Deal With India's ONGC: Details