Latest news with #FrancescoMartoccia
Wall Street Journal
03-07-2025
- Business
- Wall Street Journal
Oil Falls on Worries Over OPEC+ Likely Unwinding Production Cuts
0008 GMT — Oil edges lower in the early Asian session amid worries over further scaling back of output cuts by OPEC+. The group seems poised to unwind production quotas by another roughly 400,000 barrels a day in August, when it meets on July 6, Citi Research's Francesco Martoccia says in a research report. Recent sharp swings in oil prices suggest financial positioning should have returned to neutral levels. This may provide scope for a limited and brief selloff on OPEC+ headlines of another 411,000 barrels-per-day quota unwind, the strategist adds. Front-month WTI crude oil futures are down 0.2% at $67.31/bbl; front-month Brent crude oil futures are 0.2% lower at $68.96/bbl. (
Wall Street Journal
02-06-2025
- Business
- Wall Street Journal
Oil Rises Amid Geopolitical Tensions
2356 GMT — Oil rises in the early Asian session amid geopolitical tensions. Ukraine launched drone attacks on four military airports inside Russia, destroying more than 40 warplanes. The International Atomic Energy Agency said in a confidential report viewed by The Wall Street Journal that Iran has continued to produce highly enriched uranium over the past three months despite talks between Washington and Tehran on a new nuclear deal. 'On geopolitics, risks continue to provide a bullish support to oil prices against an otherwise softening physical backdrop,' Citi Research's strategist Francesco Martoccia says in a note. Front-month WTI crude oil futures are up 1.9% at $61.96/bbl; front-month Brent crude oil futures are 1.7% higher at $63.83/bbl. (
