Brent Crude Exceeds $100 as WTI Tops $90 Amid Drill Plans Uncertainty

Brent crude is currently trading over $100 per barrel, while WTI has surpassed $90. Despite high prices, only 21% of respondents in the latest Dallas Fed Energy Survey plan to significantly increase their drilling activities this year. The survey indicates that the profitable drilling price levels for WTI are $62 for non-Permian shale, $68 for conventional oil, and $70 for parts of the Permian. Concerns over the Middle Eastern situation and its impact on global energy security have led industry executives to adopt a cautious stance regarding future investments.