News Snapshot:
Crude oil futures settled higher on Thursday after Shanghai continud to ease its COVID-19 lockdown. But the gains were capped by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, OPEC+, expanded output levels that analysts have dismissed as a case of too little too late. Still, prices continue to remain near multi-month highs. July Wext Texas Intermediate (WTI) crude oil futures rose $0.59, or 0.5%, to $115.26 per barrel on the New York Mercantile Exchange. Despite the latest pullback, WTI prices are poised for a weekly gain of at least 1%, adding to their year-to-date rally of...
