💨 Abstract

Oil prices have spent much of the past year fluctuating between $65 and $70 per barrel. Factors influencing these prices include OPEC's unwinding of production cuts, easing trade tensions, and volatilities caused by geopolitical events. Oil and natural gas markets share common ground in supply and demand fundamentals, but natural gas prices are heavily weather-dependent. The U.S. LNG export market, boosted by the removal of export restrictions, is influencing natural gas prices.

Courtesy: WTOP Staff