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Energy / Oil Prices

Oil Markets On Edge Ahead Of Fed Meeting

Jun 13, 2023 at 10:50 | Tom Kool

Oil prices have bounced back after Monday's $3 per barrel decline, but markets remain on edge ahead of the latest Fed meeting. Investor Alert: Whether you are new to…

Oil Traders Ignore Saudi Warning To ‘Watch Out’

Jun 13, 2023 at 07:04 | Tsvetana Paraskova

Despite last week’s Saudi announcement of a unilateral oil production cut of 1 million barrels per day (bpd) in July, oil prices ended the week with a second consecutive weekly…

Saudi Arabia Suckered Again By Russia In OPEC+’ s Output Cut

Jun 12, 2023 at 09:18 | Simon Watkins

As predicted in my article at the end of May - partly because Russian Deputy Prime Minister and key OPEC+ negotiator Alexander Novak…

EIA: Oil Prices Will Not Rally Despite Saudi Output Cut

Jun 07, 2023 at 11:24 | Tsvetana Paraskova

Oil prices will not average more than $80 per barrel in the second half of this year, despite the most recent production cut announced by Saudi Arabia, the U.S. Energy…

U.S. Crude Joins Biggest Oil Benchmark

Jun 01, 2023 at 15:04 | Charles Kennedy

Starting today, U.S. oil will be part of the Brent crude basket that underlies the world's most traded benchmark contract. It will be the first non-European grade included in the…

WTI Screams Back Up Past $70 Despite Crude Inventory Builds

Jun 01, 2023 at 11:30 | Julianne Geiger

Crude oil prices turned around on Thursday, erasing most of the week’s earlier losses despite the latest EIA report that indicated crude oil inventories rose more than expected. WTI was…

WTI Plunges Below $70 With U.S. Debt Deal In Jeopardy

May 30, 2023 at 11:21 | Julianne Geiger

WTI crude oil futures sank below $70 per barrel on Tuesday as a shakily forged debt ceiling deal threatened to disrupt financial markets. WTI plunged 3.13 by noon—a 4.14% dip…

Debt Ceiling Deal Optimism To Boost Oil Prices

May 29, 2023 at 12:21 | Alex Kimani

Oil markets have kicked off the new week on a slightly sour note with leading benchmarks recording minor gains. WTI crude was up 0.37% to trade at…

OPEC+ Cuts Fail To Boost Middle East Oil Prices

May 26, 2023 at 17:02 | Gerald Jansen

The OPEC+ voluntary production cuts, on paper promising curtailments amounting to 1.66 million b/d, should have been the main story for May. Regrettably for many in the Middle East, just…

Oil Prices Fall Again As Wall Street Sees Threat Of Historic Default

May 18, 2023 at 09:45 | Tom Kool

Oil prices shed 1% in Thursday morning trading over American debt and the prospects for a historic default, despite gains on Wednesday driven by demand optimism in the…

Oil Prices Rise As Canada Wildfires Rage On

May 15, 2023 at 12:16 | Julianne Geiger

Crude oil prices were on the rise on Monday as the market continued to fear a tightening of crude supplies on Canadian wildfires. Crude oil prices were…

Is The Oil Price Slide Finally Over?

May 09, 2023 at 12:10 | Tsvetana Paraskova

Despite oil’s most recent slump to a 15-month low last week, analysts and investment banks continue to expect higher prices at the end of this year as demand is set…

Why Oil Prices Are Plunging Despite Falling Inventories

May 03, 2023 at 10:29 | Alex Kimani

Oil prices have lately lost their forward momentum, with both Brent and WTI crude plunging this week. A rather puzzling trend is being…

EIA Inventory Report Fails To Arrest Oil Price Slide

May 03, 2023 at 09:40 | Irina Slav

Crude oil prices continued lower after the Energy Information Administration reported yet another weekly inventory draw on crude oil inventories. The report came a day after the American Petroleum…

Will Demand Concerns Force Middle East Producers To Cut Oil Prices

May 01, 2023 at 10:45 | Gerald Jansen

Less than a month following the announcement of OPEC+ production cuts, oil prices have gone back to where they were before. As difficult as it is to fathom the real-time…

Analysts See Oil Prices Rising To $90 By End-2023

Apr 28, 2023 at 10:13 | Tom Kool

Oil prices are set to rise toward $90 per barrel by the end of this year, driven by Chinese demand and a tightening market following OPEC+’s latest production cuts, a 

Oil Prices Head For Second Consecutive Weekly Loss

Apr 28, 2023 at 07:59 | Tsvetana Paraskova

Oil prices were on course early on Friday to post a second consecutive weekly loss as concerns about the economy trumped larger-than-expected draw in U.S. commercial oil stocks.Brent…

What’s Keeping Oil From Rallying?

Apr 24, 2023 at 12:38 | Alex Kimani

After weeks of rising, oil prices appear to have lost upwards momentum after the 2 April announcement of voluntary output cuts failed to counter worries about…

Oil Prices Down Slightly As Economic Worries Weigh On Demand

Apr 24, 2023 at 07:51 | Tsvetana Paraskova

Oil prices extended last week’s losses and traded lower early on Monday, weighed down by lingering concerns about demand amid economic growth worries.  As of 7:08 a.m. EDT on Monday,…

Four Scenarios That Could Send Oil Prices To $200

Apr 21, 2023 at 11:07 | Irina Slav

It was the talk of the town last year. Traders bet on oil hitting $200 by March this year. Hedge fund managers warned it could even reach $250…

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