This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

West Texas Intermediate crude for July delivery lost 11 cents to $68.04 on the New York Merc, while Brent for August lost 41 cents to $69.36 (all figures in this para U.S.). Western Canadian Select traded at a discount of $10.40 to WTI, up from a discount of $13.40. Natural gas for July added three cents to $3.53. The TSX energy index added 1.32 points to close at 273.53.

Oil prices tried to hold their ground after yesterday's big jump, with traders waiting to see what will become of U.S.-China trade talks and U.S.-Iran nuclear talks. A cautious JPMorgan mostly downplayed geopolitical concerns in a research note this morning, maintaining its forecast that, on average, oil prices will stay in the low to mid-$60s (U.S.) throughout 2025. Then the bank gave in to temptation and imagined dramatic worst-case scenarios involving a closure of the Strait of Hormuz and retaliatory strikes by regional oil producers. "Under this severe outcome," the bank speculated, "we estimate oil prices could surge to the [range of] $120 (U.S.) to $130 (U.S.)."

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS