Which oil stocks rose in premarket trading?

Chevron, Exxon, Phillips 66 — Oil stocks rose broadly in premarket trading after energy prices surged overnight, with U.S. benchmark West Texas Intermediate crude briefly breaking above $130 per barrel. Shares of Chevron and Exxon Mobil each rose more than 1%, while Phillips 66 climbed 3.4%.

Why did oil prices rise on Thursday?

Oil prices rose on Thursday, extending the previous session’s gains, on a bigger-than-expected weekly withdrawal from U.S. crude storage and a weaker dollar after the U.S. central bank signaled lower borrowing costs for 2024. Brent futures was up $1.45, or 1.95%, to $75.70 a barrel.

Do you see crude oil prices remaining low in 2024?

You’re seeing crude oil demand into China going down. Do you see oil prices remaining low in 2024? Stewart: I do see the first part of the year starting out a little lower. If we see a weakening economy, it will impact demand and send prices lower.

Could Brent crude price break new ground?

The price of an option to buy Brent crude at $200 a barrel more than doubled on Monday, according to ICE Futures Europe data, indicating growing fear that prices could break new ground. Brent’s highest-ever price was $147.50 in July 2008.