• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 4 days Does Toyota Know Something That We Don’t?
  • 7 days OPINION: Putin’s Genocidal Myth A scholarly treatise on the thousands of years of Ukrainian history. RCW
  • 3 days World could get rid of Putin and Russia but nobody is bold enough
  • 3 days America should go after China but it should be done in a wise way.
  • 7 days CHINA Economy IMPLODING - Fastest Price Fall in 14 Years & Stock Market Crashes to 5 Year Low
  • 5 days China is using Chinese Names of Cities on their Border with Russia.
  • 7 days Russian Officials Voice Concerns About Chinese-Funded Rail Line
  • 6 days CHINA Economy Disaster - Employee Shortages, Retirement Age, Birth Rate & Ageing Population
  • 6 days Putin and Xi Bet on the Global South
  • 7 days "(Another) Putin Critic 'Falls' Out Of Window, Dies"
  • 7 days United States LNG Exports Reach Third Place
  • 7 days Biden's $2 trillion Plan for Insfrastructure and Jobs
The Race for Natural Hydrogen Is Heating Up

The Race for Natural Hydrogen Is Heating Up

Natural hydrogen presents a promising…

ADNOC CEO: Global Energy Demand Growth Is Unsustainable

ADNOC CEO: Global Energy Demand Growth Is Unsustainable

According to ADNOC CEO Al-Jaber,…

Carbon Nitride: A Breakthrough in Material Science

Carbon Nitride: A Breakthrough in Material Science

University of Edinburgh scientists have…

Editorial Dept

Editorial Dept

More Info

Premium Content

Oil Faces Headwinds Despite Bullish Fundamentals

October West Texas Intermediate Crude oil futures posted a volatile trade on Thursday on top of a bearish weekly performance. The price action reflected a myriad of factors from economic data to geopolitical shifts.

Demand Worries from Economic Data

Concerns about global economic health cast a shadow over oil prices. Weak figures from major economies, including Japan's shrinking factory activity, declining business activity in the Eurozone, and Britain's potential economic contraction, have heightened demand anxieties. Even in the U.S., economic growth seemed to hover near stagnation in August. All eyes are now on U.S. Federal Reserve Chair Jerome Powell, whose speech at the Fed’s Jackson Hole Symposium on Friday is keenly awaited by investors, given the implications for the broader economy.

U.S. Dollar Strength

As Federal Reserve Chair Jerome Powell gears up for his speech at the Jackson Hole symposium, the trading world waits with bated breath. There's rising concern that a hawkish tilt from the Federal Reserve could boost the dollar, making oil costlier and subsequently suppressing demand. A robust dollar invariably means higher oil prices for holders of other currencies, affecting demand dynamics. Given the hints of the Federal Reserve adopting a more assertive approach and the prevailing uncertainties about U.S. interest rates, the trajectory of the dollar remains crucial in shaping the oil market landscape.

Supply Dynamics

On…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News