OIH Stock Recent News

WTI crude oil tests $62.93 resistance after a key breakout. Can the rally continue, or is a correction ahead?

Oil prices rose on Monday after both sides in U.S.-China trade talks over the weekend touted their progress, which lifted market sentiment that the world's two largest crude users may be moving toward a resolution of their trade dispute.

Natural gas futures rose on largely technical moves with weather-related demand steady as air conditioning use rises and late-season heating demand fades.

Oil prices were little changed early on Friday after rising more than 3% in the previous session, as trade tension between top oil consumers U.S. and China showed signs of easing and Britain announced a "breakthrough" trade deal with the United States.

The oil market appears to be telling Saudi Arabia that its shift to pumping more oil after five years of cutting output was well timed.

WTI oil remains under bearish pressure amid the threat of a global trade war, while natural gas continues to trade higher after rebounding from the key $3 level.

Kevin Hincks urges investors to stay alert this week. Most Mag 7 earnings have passed but there's a lot around the economy that can ignite market moves.

The major oil companies' results were hurt by narrow refining margins, lower oil prices and rising costs.

Exxon Mobil reported first-quarter earnings Friday that beat Wall Street expectations. However, profits were down 6% hurt by weaker oil prices.

Chevron's profit declined more than 30% compared with the same quarter in 2024 as oil prices have sold off steeply. FILE PHOTO: A Chevron gas station is seen in Austin, Texas, U.S., October 23, 2023.