Oil Ekes Out Gain After Iran’s Muted Response to Israel Strike

Brent settles near $87 a barrel after earlier surge above $90 Flurry of options trades signal urge to protect against spikes Oil eked out a meager gain after Iranian media appeared to downplay the effect of Israeli strikes, lowering the geopolitical risk premium for crude. Global benchmark Brent earlier soared more than $3, popping above $90 a …

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Jet Fuel Demand Growth Lags as Air Traffic Exceeds Pre-Pandemic Level

Global flight activity passed pre-pandemic levels for the first time in four years last week, but jet fuel demand growth has not kept apace as newer fleets of aircrafts become more fuel efficient and carry more passengers. Aviation fuel, a product refined from crude oil, has been the single biggest contributor to oil’s post-pandemic bonanza, …

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U.S. Drillers Add Oil and Gas Rigs for First Time in Five Weeks – Baker Hughes

U.S. energy firms this week added oil and natural gas rigs for the first time in five weeks, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of future output, rose by 2 to 619 in the week to April 19. Despite …

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