This Week’s Market Buzz

• Oil prices edged higher at press time, still above $100 a barrel, but were set for a second straight weekly loss, after a volatile trading week with no easy replacement for Russian barrels in a tight market. Brent crude futures rose 38 cents, or 0.7%, to $107.02 a barrel. U.S. West Texas Intermediate (WTI) crude futures were up 77…

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U.S. Energy Information Administration Releases Short-Term Energy Outlook

The U.S. Energy Information Administration’s Short-Term Energy Outlook (STEO) continues to reflect heightened levels of uncertainty as a result of the ongoing COVID-19 pandemic. Notably, the Omicron variant of COVID-19 raises questions about global energy consumption. U.S. real GDP declined by 3.4% in 2020 from 2019 levels.

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