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Energy / Oil Prices

Traders Brace For Major Oil Market Volatility This Summer

Jul 21, 2021 at 13:54 | Tsvetana Paraskova

After a period of relative stability in the oil market where U.S. crude benchmark WTI was trading above $70 a barrel for more…

Oil Dips After EIA Reports Crude Inventory Build

Jul 21, 2021 at 09:38 | Irina Slav

Crude oil prices briefly dipped after the Energy Information Administration reported a crude oil inventory build of 2.1 million barrels for the week to July 16. Last week’s inventory build…

Oil Rallies After Poor Open

Jul 21, 2021 at 08:58 | Tsvetana Paraskova

Oil prices started Wednesday trade in Asia lower, extending the slide from late on Tuesday, when an industry report of a surprise U.S. crude inventory increase stopped the rise in…

Hedge Funds Won Big On OPEC Spat

Jul 20, 2021 at 12:02 | Tsvetana Paraskova

Money managers continue to take profits on oil futures and options contracts after crude prices hit multi-year highs in early July.   Hedge funds and other portfolio…

Oil Prices Inch Even Lower Following Devastating 7% Single-Day Loss

Jul 20, 2021 at 08:34 | Julianne Geiger

After plunging nearly 7% on Monday, oil prices saw a leveling off and even a smidgeon of a rebound on Tuesday in what many hope will be a new state…

Goldman Sachs Raises Oil Price Forecast Following OPEC Deal

Jul 19, 2021 at 10:04 | Tsvetana Paraskova

The agreement which OPEC+ reached on Sunday is modestly bullish for Goldman Sachs’s forecast that Brent will hit $80 per barrel this summer, the investment bank said in a…

Oil Prices Crash After OPEC+ Reaches Deal To Ease Cuts

Jul 19, 2021 at 08:18 | Tsvetana Paraskova

Oil prices dropped by 5 percent early on Monday, with WTI Crude slipping to $67 per barrel, after OPEC+ decided on Sunday it would start returning 400,000 barrels per day…

Oil Suffers Double Whammy In Weakest Week Since March

Jul 16, 2021 at 09:06 | Charles Kennedy

Oil prices are likely to record their worst week since March under the double blow of additional OPEC supply coming to markets and unfavorable fuel inventory data from the United…

Oil Slips On Prospect Of Rising OPEC+ Supply

Jul 15, 2021 at 11:01 | Tsvetana Paraskova

Oil prices dropped early on Thursday as the market assesses the prospect of higher crude supply from the OPEC+ group after a reported compromise between key OPEC members Saudi Arabia…

Goldman Bullish On Oil Despite Saudi-UAE Agreement

Jul 15, 2021 at 08:58 | Irina Slav

Goldman Sachs has reiterated its $80 price forecast for Brent crude despite reports that Saudi Arabia and the United Arab Emirates had reached a deal on oil production that…

Oil Stabilizes After Saudi-UAE Compromise Removes Major Uncertainty

Jul 14, 2021 at 10:05 | Tsvetana Paraskova

Oil prices steadied on Wednesday morning before the EIA inventory report after a reported compromise between Saudi Arabia and the UAE over baseline production levels removed a major uncertainty that…

High Oil Prices Threaten The Global Economic Recovery

Jul 12, 2021 at 16:05 | Tsvetana Paraskova

Since oil prices exceeded $70 per barrel earlier this year, analysts, economists, and central banks have been fretting about whether higher crude prices could disrupt the momentum in…

Spreads And Inventory Levels Suggest Oil Prices Will Go Even Higher

Jul 12, 2021 at 14:11 | ZeroHedge

Oil prices have continued to rally this year as economies recover from impaired pandemic levels, however, calendar spreads have been unable to realize their bullish intent. In fact,…

EIA Sees Brent Prices Averaging $69 This Year

Jul 09, 2021 at 10:53 | Tsvetana Paraskova

Brent Crude spot prices are set to average $68.78 per barrel this year, the U.S. Energy Information Administration (EIA) said in its latest monthly outlook, significantly raising its oil price…

High Oil Prices Could Derail America’s Economic Recovery

Jul 08, 2021 at 12:04 | Haley Zaremba

Way back in March, a veritable eternity ago if you measure by the daily news cycle, Oilprice reported that high oil prices were coming down the pike, and…

Oil Continues To Slide As OPEC Stays Silent

Jul 08, 2021 at 09:48 | Tsvetana Paraskova

Oil prices fell for a third day in a row early on Thursday as uncertainty coming from the OPEC+ deadlock and fears of COVID variants spreading fast weighed on the…

Poor Hedging Could Cost U.S. Shale $20 Billion

Jul 08, 2021 at 08:46 | Irina Slav

U.S. shale oil producers have suffered billions in losses from hedging their output at lower than current prices, the Financial Times reported today, citing data from IHS Markit. According…

Oil Prices Still Have Room To Run

Jul 07, 2021 at 12:05 | David Messler

At mid-year 2021 we find that we are in an unsettled state with respect to crude supplies. Of the three largest contributors to global supply, the U.S.A., Russia,…

Oil Price Plunge Continues Amid OPEC+ Deadlock

Jul 07, 2021 at 11:15 | Tsvetana Paraskova

Oil prices continued falling early on Wednesday, following the sharp losses incurred the previous day after the market started to assess what the OPEC+ deadlock would mean for immediate oil…

OPEC Stalemate Could Spark A New Oil Price War

Jul 06, 2021 at 16:35 | Tsvetana Paraskova

Nearly a week of formal and side talks and behind-the-scenes negotiations failed to resolve a dispute over baseline production levels at OPEC+. The discord threw the group in…

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