Posted 10/23/2023, 2:25:59 PM
Oil Prices Climb on Middle East Worries While US Natural Gas Drops on Warm Weather
- WTI crude oil prices rise due to Middle East tensions and potential easing of Venezuela sanctions
- US steelmakers raise flat-rolled steel prices despite auto worker strike and demand concerns
- Natural gas prices at Henry Hub drop below $3/MMBtu for the first time since 2020
- Mild weather in Southeast US expected to push natural gas prices even lower
- Analysts note global oil supply still constrained by Saudi and Russian output cuts
