This Week’s Market Buzz

  • At press time, international benchmark Brent crude ended the day at $107.91 for a loss of 4.88%. U.S. crude futures for May delivery settled 6.99% lower at $100.28 per barrel.
  • In Texas’ Permian Basin – the nation’s most productive oil region and the place that would have to lead any jump in U.S. oil production – people in the industry, energy analysts and local leaders say there’s no quick or easy way to make increased drilling happen, said The Texas Tribune.
  • According to an article in Trains, the Russian-Ukraine War is pressuring U.S. oil companies to increase shale production. This has oil producers seeking more sand used in hydraulic fracking.

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