Oil prices rose today but still closed down week over week, ending a streak the longest streak of week over week gains so far in 23. “Concerns for investors remain focused on the tension between slowing global growth and still-tight global supplies,” said Rob Haworth, senior portfolio manager at U.S. Bank Asset Management. “Prices are likely to remain range-bound for now,” Haworth said, adding that demand is in question for investors worried by the weak data from China. Both benchmarks pushed higher on Friday after industry data showed that the U.S. oil and natural gas rig count, an early indicator of future output, fell for the sixth week in a row. A slump in U.S. production could exacerbate anticipated supply tightness through the rest of this year. WTI traded up $.86 or 1.1% to close at $81.25. Brent traded up $.68 or .8% to close at $84.80.

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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
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mars
  • Where: La Quinta Resort & Club, La Quinta, California
  • Attending: Curtis Chandler (239.405.3365)
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  • Where: Charlotte Harbor, Florida
  • Attending: David Cohen (954-729-4774), Brian Baker (239)297-4519
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