On average, analysts surveyed by S&P Global Commodity Insights forecast an increase of 49 billion cubic feet. Bennettsvilles success was also a precursor to Hendrick Automotive Group, a company that would be built on the winning foundation Hendrick. supplies of the commodity in storage rose by 57 billion cubic feet for the week ended Sept. On Nymex Thursday, natural-gas futures settled higher after the EIA reported that U.S. WTI crude has broken out above the $90 “round number,” and the market may start to hear “more chatter about the big $100 barrier, and political pressure to do something about rising energy costs may start to ramp up again,” he said. Meanwhile, economic news Thursday is “bullish for the world economy,” said Cieszynski, implying upbeat prospects for energy demand, with the European Central Bank hinting that it’s “close to done, if not done” with raising interest rates, and with U.S. shale industry,” he wrote.Īs long as OPEC+ keeps curbs on production and exports, oil prices will remain firm until high prices force a round of demand destruction at the gasoline pump, Innes said. “This formidable pricing prowess can be attributed to OPEC+’s substantial market share, bolstered by its alliance with Russia, and the relatively inelastic nature of non-OPEC supply, primarily influenced by the financial discipline observed in the U.S. “OPEC+ is currently demonstrating a remarkable display of pricing power, skillfully increasing prices without causing a significant dent in demand,” said Stephen Innes, managing partner at SPI Asset Management, in a note. “Undersupply is only an issue during times of healthy or strong demand, just as oversupply becomes a problem when demand is soft.” Settled at $2.74 a gallon, up 0.2%, while October heating oilĮnded at $2.71 per million British thermal units, up 1%.Ĭrude oil “appears to be responding more to supply issues once again amid signs that demand could hold up or even potentially increase in future,” Colin Cieszynski, chief market strategist at SIA Wealth management, told MarketWatch. The global benchmark, climbed $1.82, or 2%, at $93.70 a barrel on ICE Futures Europe, the highest finish since Nov. That was the highest finish for a front-month contract since Nov. From dent removal to paint and body work.

Rose $1.64, or nearly 1.9%, to settle at $90.16 a barrel on the New York Mercantile Exchange. Auto Repair & Service, Automobile Body Repairing & Painting Services/Products We are the preferred auto body repair shop in Nashville TN for honest, quality collision repair for all vehicles. crude-oil benchmark settled above $90 a barrel on Thursday for the first time since November, lifted by ongoing concerns over the outlook for tight global supplies.

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