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Energy / Oil Prices

Analysts Predict a Challenging Year for Oil Prices in 2024

Jan 10, 2024 at 08:55 | Irina Slav

Oversupply, weak prices, and lukewarm demand growth are the three horsemen of low oil prices that analysts expect to become the most probable scenario for this year. The only factor…

Oil Prices Caught between Geopolitics and Economic Worry

Jan 03, 2024 at 05:51 | Irina Slav

Crude oil prices have been trading in a tight range since the start of the New Year as geopolitical tensions in the Middle East counter now chronic economic concern. Still,…

What Will Influence Oil Prices in 2024?

Jan 02, 2024 at 07:17 | Simon Watkins

The last couple of years have seen a series of extraordinary events, most notably the invasion of Ukraine by Russia on 24 February 2022 and the Hamas attacks on Israel…

Oil Prices Projected to Remain Below $80 in 2024

Dec 29, 2023 at 07:43 | Tsvetana Paraskova

Expected weak global economic growth would slow oil demand growth next year, keeping the average U.S. benchmark oil price at below $80 per barrel, according to the monthly 

Oil Prices Set for First Annual Decline Since 2020

Dec 29, 2023 at 07:02 | Tsvetana Paraskova

Concerns about economies and oil demand amid rising interest rates have pushed oil prices down to a 10% decline this year, the first annual drop since 2020, despite the OPEC+…

Houthi Attacks Fail to Stop Middle East’s Pricing Problem

Dec 28, 2023 at 05:10 | Gerald Jansen

Houthi missile attacks on tankers transiting the Red Sea and the Bab-el-Mandeb strait have lifted oil prices, allowing OPEC+ heavyweights such as Saudi Arabia or the United Arab Emirates to…

Selling Pressure in Oil Subsides

Dec 28, 2023 at 04:49 | Editorial Dept

Weekly Overview This week in the crude oil market, Thursday's session concluded with the U.S. benchmark February West Texas Intermediate (WTI) crude oil futures settling lower. Despite this downturn,…

Oil Prices Poised to Bounce Back in 2024

Dec 18, 2023 at 08:49 | Irina Slav

Crude oil prices are at lows not seen in months. There seem to be few factors capable of changing that. Yet commodity analysts seem to be more bullish…

Oil Traders Turn Bears Fast and Furiously

Dec 12, 2023 at 10:59 | Irina Slav

Just a few months ago, oil prices were on the rise, talk on Analyst Street was about a deficit to manifest itself by the end of the year, and, as…

Saudi Prince Says Oil Output Cuts Could Extend Beyond March

Dec 04, 2023 at 14:22 | Charles Kennedy

Saudi Energy Minister Prince Abdulaziz bin Salman told Bloomberg on Monday that OPEC+ production cuts could extend beyond March 2024 if the market requires it, criticizing commentators for…

Why Did Oil Drop on an OPEC+ Output Cut and Will the Selling Continue?

Dec 01, 2023 at 08:39 | Editorial Dept

Over the last twenty years or so, I have spent a lot of time teaching and mentoring aspiring traders. During that time, I have heard a lot of questions, but…

Why Oil Prices Fell After OPEC+ Announced Deeper Output Cuts

Nov 30, 2023 at 15:36 | ZeroHedge

Initial leaks from the OPEC+ meeting suggested that the voluntary nature of additional output cuts is likely contributing to the negative market sentiment. "Drowning in detail" is how another…

Oil Prices Stable in Anticipation of Key OPEC+ Meeting

Nov 24, 2023 at 07:37 | City A.M

Brent crude futures were steady on Friday as traders kept their powder dry ahead of an OPEC+ meeting that could bring agreement on further supply cuts.

Oil Hedging Volumes 62% Below 2020 Levels

Nov 23, 2023 at 09:03 | Alex Kimani

Oil and commodity producers as well as heavy consumers frequently employ a variety of hedging strategies to protect themselves against market fluctuations. Oil producers typically use a short…

The Middle East Enjoys Its Last Month of High Prices Before Cuts Kick In

Nov 20, 2023 at 08:30 | Gerald Jansen

Having enjoyed a strong third quarter with Brent prices averaging 86 per barrel, the oil producer countries of the Middle East are now facing a much direr outlook into the…

Oil Sheds Over 3% As Markets Remain Unconvinced On China

Nov 16, 2023 at 10:01 | Tom Kool

A day after the Energy Information Administration (EIA) released its inventory report showing a 3.59-million-barrel jump in U.S. crude oil stockpiles, oil prices are trading down well over…

Oil Markets Wrongfooted By Change In Speculative Buying

Nov 13, 2023 at 16:53 | Alex Kimani

Last week, oil prices logged a third straight weekly decline, sinking to the lowest level since mid-July as concerns about demand continue to replace the fear of production outages related…

A Less Hawkish Fed Could Jumpstart The Oil Price Rally

Nov 04, 2023 at 08:46 | Alex Kimani

In recent times, fears of a spillover in the conflict between Israel and Hamas, which could embroil Iran and its allies in the region, have offered considerable support to oil…

Standard Chartered: $98 Oil Is Well Supported By Fundamentals

Nov 01, 2023 at 16:04 | Alex Kimani

Oil prices have been a rollercoaster over the past couple of months as negative catalysts frequently outshine the positive ones and vice-versa. In recent times, fears of a spillover in…

Middle East Producers Cautious To Hike Prices In Tight Market

Oct 27, 2023 at 09:28 | Gerald Jansen

Tensions in the Middle East escalated just as oil prices declined into potentially dangerous territory for major OPEC+ players such as Saudi Arabia. Before October 7, Dubai was…

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