Crude oil prices added over $2 per barrel on Monday on the news about a production halt at Norway’s Johan Sverdrup field due to an onshore power outage but earlier today the momentum began to slow down with traders refocusing on fundamentals.
New data from the Texas Workforce Commission (TWC) indicate that upstream oil and natural gas employment grew by 800 in September compared to August. Today’s data mark five out of nine months so far this calendar year in which the job count has increased, and the fourth monthly increase in a row.
Curious Minds Corner
What is the term for the measure of how easily oil flows at a given temperature?