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Energy / Oil Prices

Why Middle East Producers Cut Prices In The Face Of Soaring Chinese Oil Demand

Jan 30, 2023 at 10:51 | Gerald Jansen

China is back, and even the most ardent skeptics of Beijing’s policy easing will be compelled to admit that there is great upside in global oil demand in 2023. China…

Big Oil Reports Record Profits, But There's A Catch

Jan 30, 2023 at 10:37 | Irina Slav

Big Oil had a record year in 2022, earning billions from the imbalance between oil and gas demand and supply, and from the massive uncertainty that geopolitical events…

Momentum Grows For Oil, But Recession Fears Cap Gains

Jan 26, 2023 at 23:04 | Editorial Dept

U.S. West Texas Intermediate crude oil futures settled about 2% higher on Thursday on positive U.S. economic data and optimism that global demand will strengthen as top oil importer China…

Why Oil Won’t Trade Above $100 This Year

Jan 26, 2023 at 11:41 | Alex Kimani

After an initial dip, the oil price rally has been a steady grind upwards in the current year, with the last 12 trading days seeing 10 days of…

U.S. Gasoline Prices Continue To Climb

Jan 23, 2023 at 13:05 | Julianne Geiger

Gasoline prices continue to climb for the fourth straight week, rising 32.7 cents over the last month as crude oil prices rise, data from AAA showed on Monday. Gasoline prices…

Will Oil Continue To See Extreme Volatility?

Jan 16, 2023 at 17:59 | Irina Slav

Last year saw some quite significant swings in oil prices, mostly driven by geopolitical events but also by China’s zero-Covid policy. This year appears to signal calmer waters…

Oil Prices Gain On Optimistic U.S. Inflation Data

Jan 12, 2023 at 10:24 | Charles Kennedy

Oil prices are trading up Thursday following the release of U.S. inflation data for December, showing a continued slowdown in the Consumer Price Index (CPI) climb and an…

Andurand: Oil Prices Could Exceed $140 If China's Economy Fully Reopens

Jan 06, 2023 at 10:28 | Julianne Geiger

Crude oil prices could exceed $140 per barrel yet this year if China’s economy fully reopens, hedge fund manager Pierre Andurand said on Friday. Andurand sees the possibility of crude…

Where Are Oil Prices Heading In 2023?

Jan 06, 2023 at 09:26 | Tsvetana Paraskova

At the beginning of 2023, several factors are at play in determining the short and medium-term trend in oil prices this year. Supply and demand concerns, tightening monetary…

Middle East Producers Cautious To Hike Oil Prices At Start Of 2023

Dec 26, 2022 at 13:20 | Gerald Jansen

Middle Eastern OSPs – December 2022 The oil markets have come full circle. In a year that saw the Russia-Ukraine war disrupt crude flows across the globe, oil…

$100 Oil To Return In 2023

Dec 21, 2022 at 10:22 | Alex Kimani

Eric Nuttall, partner and senior portfolio manager at Ninepoint Partners LP, has told the Financial Post that oil prices will return to $100 per barrel in 2023. According to…

Oil Prices Tank 3% As Contract Rollover Nears

Dec 16, 2022 at 08:46 | Tsvetana Paraskova

Oil prices slid by 3% early on Friday, erasing the gains from earlier this week, as the contracts are set for rollover and central banks say much needs to be…

What Iron Ore Prices Tell Us About Where Crude Oil Is Headed

Dec 14, 2022 at 15:37 | Alex Kimani

Historically, the prices of two of the world’s biggest commodities, crude oil and iron ore, are strongly correlated, which is hardly surprising given that they are the lifeblood…

High Oil Prices Are Fueling Economic Growth In The Middle East

Dec 06, 2022 at 09:20 | Oxford Business Group

In a year of global economic uncertainty fuelled by inflation, geopolitical crises and supply chain insecurity, the Middle East witnessed a second consecutive year of economic growth, with…

Why 2023 Is Likely To See Much Higher Oil Prices

Nov 30, 2022 at 12:45 | Alex Kimani

Earlier this week, oil prices plunged to 2022 lows as energy markets panicked about demand amid COVID chaos in China that has resulted in an unexpected and extraordinary…

No Deal On Russian Oil Price Cap As Deadline Looms

Nov 29, 2022 at 06:55 | Irina Slav

The European Union has failed to agree on the price cap for Russian oil proposed by the G7 as Poland refused to accept the suggested price level, which…

Middle East Oil Producers Under Pressure To Cut Prices Again

Nov 28, 2022 at 08:48 | Gerald Jansen

The Middle East has been steadily reaping the benefits of its oil bounty throughout 2022, arguably one of the most successful years for the region at large in…

Goldman Sachs Slashes Oil Price Forecast By $10

Nov 21, 2022 at 07:38 | Irina Slav

Goldman Sachs has cut its oil price forecast by $10 to $100 per barrel, citing lockdowns in China that would dampen demand for the commodity. The…

WTI Drops To $80 As Bearish Momentum Grows

Nov 18, 2022 at 07:57 | Editorial Dept

U.S. West Texas Intermediate crude oil traded lower on Thursday as the U.S. Dollar soared on hawkish comments from a widely followed Federal Reserve member. Prices were already trading lower…

Oil Falls More Than 4% As Traders Ditch The China Reopening Play

Nov 17, 2022 at 11:46 | Julianne Geiger

Oil prices plummeted on Thursday on a series of bearish market forces, led by thin liquidity and easing geopolitical tensions between Russia and the West when it became clear that…

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