MIDLAND, TEXAS – MARCH 12: Workers place pipe into the ground on an oil drilling rig set up in the … [+] Getty Images The week just past was a week during which the Brent and West Texas Intermediate prices for crude oil erased almost all the losses experienced during the first week of January. At the same time, though, domestic and international prices for natural gas continued their downward trend brought on by unseasonably warm weather across Europe and North America. Here are some of the week’s major energy-related stories: Crude prices jump – The rebound in crude prices saw the international Brent price sitting at $85.28 per barrel at Friday’s close, almost back to the $85.91 closing level Monday, Jan. 2. Friday’s close represented a gain of almost 9% for the week. Continuing robust demand for oil around the globe was the driver of the week’s increase, which was enhanced late in the week by news of a strong rebound in air travel in China as that country fully re-opens following draconian COVID lockdowns. Natural gas prices drop – At the same, though, warm weather across the northern hemisphere was the main factor causing domestic and international […]
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