Top Headlines: Oil Futures Signal Death Cross and More

Oil & Gas

Here are some of Rigzone’s top stories during the last week, just in case you missed them…

Oil Futures Signal Death Cross

One of Rigzone’s regular market watchers recently took a look at the signal of a so called death cross pattern in the oil futures market, what oil traders were focusing on, natural gas market trends and more.

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Inflation Reduction Act May Become a Misnomer

The Inflation Reduction Act’s name may become a misnomer if investment surges while supply chains remain constrained – fueling inflation, according to a new BofA Global Research report.

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Morgan Stanley, UBS Analysts Cut Oil Outlooks

Bloomberg noted that mounting fears of recessions in major economies as well as China’s inability to throw off its virus shackles have oil analysts slashing their price forecasts for the rest of this year.

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Diesel Margins Tank

Bloomberg also reported that the cost of diesel is plunging around the world as traders weigh the impact of a potential new quota for Chinese fuel exports.

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Shell Names New CEO

Shell announced Thursday that its chief executive officer, Ben van Beurden, will step down at the end of 2022 and revealed that it has named a new CEO, effective January 1, 2023.

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Oil Demand Gets Fuel Switching Boost

Soaring oil use for power generation and gas-to-oil switching are boosting demand, according to the International Energy Agency’s (IEA) latest oil market report.

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