EIA: Permian Crude Output Set for Slower Growth in 2025

The oil price rally has reversed again thanks to unrelenting short-selling by money managers. Brent crude futures for December delivery were trading at $77.24/barrel at 11.40 am ET on Thursday, while WTI crude was changing hands at $73.72/barrel.  That marks a sharp fall from last Monday’s 2-month high of $81.12 for Brent and $77.91 for WTI crude.  The rally was triggered by Washington’s indication that Israel could strike Iran’s oil facilities.  Short sellers increased their bearish bets against S&P 500 oil…