Oil prices rose on Friday, but fell for the week on worries that strong U.S. economic data would keep interest rates elevated for a longer period, curbing fuel demand.  U.S. West Texas Intermediate (WTI) crude futures settled 85 cents, or 1.1%, higher to $77.72.  Worries over Federal Reserve interest rate policy and last week’s bump in US crude oil inventories weighed on market sentiment.  Consumer sentiment also fell to a five-month low on mounting fears about borrowing costs staying high. Oil demand is still robust from a broader perspective, analysts at Morgan Stanley wrote in a note, adding they expect total oil liquids consumption to increase by about 1.5 million barrels per day this year.  Soft U.S. gasoline demand has been offset by global demand

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mars
  • Where: Renaissance Schaumburg Convention Center Hotel
  • Attending: Curtis Chandler (239.405.3365), David Cohen (954-729-4774), Brian Baker (239)297-4519
  • Conference Website
mars
  • Where: La Quinta Resort & Club, La Quinta, California
  • Attending: Curtis Chandler (239.405.3365)
  • Conference Website
opis
  • Where: Charlotte Harbor, Florida
  • Attending: David Cohen (954-729-4774), Brian Baker (239)297-4519
  • Conference Website