"Will Wildfires & Tariffs Set Oil on 🔥 or 🧊?"
Update: 2025-06-07
Description
OG Oil Gas Energy NewsFrom Wellhead to Wall Street: What’s Moving the Market Today
Crude Oil Prices:
WTI $63.40 (Facing resistance at $63.80)
Brent $64.71 (Pulled back from 55-day average)
Canadian wildfires slash 350K bpd
OPEC+ output steady, but market tightens
Natural Gas Prices:
NG $3.68
Testing key support at $3.52 & $3.44
Bearish reversal risk, messy but crucial
Big Industry Moves:
BEL Valves signs £5M deal for Murlach
YPF’s LNG mega project targets FID by year-end
Policy Watch:
Trump’s tariffs to 50% on steel
BoC cautious amid trade flip-flops
49 active fires threaten Alberta oil flow
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