Natural Gas price caps announced by Australia’s government last Friday have producer firms concerned that future investment and exports could be negatively impacted.
Oil dropped after the U.S. asked some of the biggest Oil-consuming countries to join it by tapping into stockpiles to manage global energy prices, according to people familiar with the matter.
Five supermajors plan to release earnings on Thursday & Friday and it's expected reports will show roughly $29 billion in free cash flow - the most since 2008. This could be due to a strong demand for crude, natural gas and chemical price surges, and a rebound in refineries.
The last few days of trading have wiped out all gains this commodity has made since May.
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