Oil prices fell on Monday, extending last week’s decline of about 3%, as investors weighed the chances for a U.S. rate cut against the prospect of a Ukraine peace deal that could lead to an easing of sanctions on major producer Russia.
Chemical and manufacturing industries and data centers looking for reliable energy supply drive increased domestic consumption, while the booming LNG exports from the Texas and Louisiana coasts, and at least half a dozen new export plants expected to start up by the end of the decade, are prompting new-built or expanded links to feed gas to the LNG facilities.
Curious Minds Corner
How has hydraulic fracturing (fracking) impacted U.S. oil production since 2010?
It tripled U.S. crude oil output between 2010 and 2020, significantly reducing dependence on imports.