Oil traders rushed to take some profits off the table after the recent rebound.
Gasoline inventories increased by 0.2 million barrels, exceeding analyst estimates.
WTI reports a year-over-year deterioration in its Q1 loss due to lower oil equivalent production volumes and higher operating expenses.
W&T Offshore (WTI) came out with a quarterly loss of $0.13 per share versus the Zacks Consensus Estimate of a loss of $0.14. This compares to loss of $0.05 per share a year ago.
HOUSTON, May 06, 2025 (GLOBE NEWSWIRE) -- W&T Offshore, Inc. (NYSE: WTI) (“W&T,” the “Company,” “we” or “us”) today reported operational and financial results for the first quarter of
Rising spending during China's May Day holiday provided additional support to oil markets.
Oil managed to rebound from session lows but traders stay cautious as OPEC+ plans to boost production in June.
Traders worry that OPEC+ will boost production in June.
Iran decided to postpone negotiations as U.S. imposed new oil-related sanctions.
WTI crude rebounds from $56.39 on short-covering and equities rally, but upside remains capped as OPEC output and demand fears weigh on sentiment.
Recent reports indicate that Saudi Arabia will not cut supply despite the strong pullback in the oil markets.
Gasoline inventories decreased by 4 million barrels from the previous week.
Oil traders stay focused on trade wars and fear that demand for oil will be weak.
W&T (WTI) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
WTI oil remains under bearish pressure, while natural gas has found strong support at $3.
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