Browsing: west texas intermediate

Oil prices surged back above $100 after the United States ordered a blockade of Iranian ports, lifting Brent and WTI as markets reacted to Gulf shipping risks.

Goldman Sachs raised its 12-month U.S. recession probability to 30% as higher energy costs, tighter financial conditions and softer growth cloud the outlook.

US crude oil production is forecast to average 13.5M bpd in 2025 and 2026, with natural gas and LNG exports also seeing significant growth.

Oil prices extended gains, settling above $72 a barrel as supply concerns, OPEC+ policy uncertainty, and a weaker U.S. dollar supported crude amid market volatility.

Natural gas prices surged up to 20%, reaching their highest in nearly a year, as forecasts predict below-average January temperatures across the U.S. East Coast, driving energy demand.