- Oil prices fell on Friday, given worries regarding US debt ceiling negotiations and impact on the economy from a potential default.?Nonetheless both Brent and WTI notched their first weekly gains in a month, with both benchmarks rising about 2% primarily due to positive news from China.
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- Gas prices rallied in second half of the week, upward momentum kicking in following EIA’s bullish storage inventory report – showing inventories rising at slower-than-expected rate.?In addition, EIA’s Short-Term Energy Outlook was more positive on gas prices in 2H 2023 vs last month’s sentiment
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Baker Hughes US rig count (ex-GOM) down 11 WOW
- 720 vs 731: Permian, and EFS down 4, and 3 respectively