Crude prices fell on Friday morning, erasing some gains as traders remain cautious to go long on crude again. August 12th, This week has been quite tumultuous in the oil markets, starting off with a pervasive feeling of demand gloom yet recording a weekly gain in the end, greatly aided by flat US inflation data …
Oil Prices Fall As Demand Concerns Persist | OilPrice.com Read More »
Biden’s “hard-won”, post Saudi fist-bump OPEC output boost of 100K barrels may end up being not only the smallest on record, but also the shortest. In its latest monthly report, OPEC revealed that it expects global oil markets to tip into surplus this quarter as it downgraded the outlook for demand and bolstered estimates for rival …
OPEC Sets The Stage For New Output Cuts | OilPrice.com Read More »
U.S. West Texas Intermediate crude oil futures are trading lower on Friday shortly after the release of a strong U.S. Non-Farm Payrolls report that suggests the U.S. is not in a recession and that the Fed is likely to continue on its aggressive rate hiking path. Prices have come under pressure this week as the …
Why Traders Have Started To Dump Crude | OilPrice.com Read More »
NEW YORK, Aug 3 (Reuters) – U.S. stocks jumped to a sharply higher close and Treasury yields touched two-week highs on Wednesday as robust economic data, upbeat corporate guidance and easing geopolitical concerns boosted investor risk appetite. Front-month crude futures dropped following a report that U.S. stockpiles of crude and gasoline unexpectedly surged last week. …
Wall Street rallies on economic data, crude falls as stockpiles jump Read More »
Sticker reads crude oil on the side of a storage tank in the Permian Basin in Mentone, Loving County, Texas, U.S. November 22, 2019. REUTERS/Angus Mordant Register now for FREE unlimited access to Reuters.com Register U.S. crude, gasoline stockpiles rise unexpectedly – EIA OPEC+ decides on small 100,000 bpd increase to output target U.S. had …
Oil falls 2% on U.S. crude, gasoline build, slight OPEC+ hike Read More »
U.S. petroleum inventories are still sitting at multi-year lows for this time of the year despite record releases from the Strategic Petroleum Reserve (SPR), reports of weakening gasoline demand over the past weeks because of high prices, and a slowing economy. Commercial crude and product stockpiles have failed to rebuild over the last few months, …
Demand Destruction Could Help America Refill Its Oil Inventories | OilPrice.com Read More »