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Breaking News:

OPEC Lifts Production in February

Saudi Arabia Signals a Shift in Oil Strategy

Saudi Arabia Signals a Shift in Oil Strategy

Saudi Arabia has directed its…

Diesel Prices Set to Surge in 2024

Diesel Prices Set to Surge in 2024

Diesel prices are expected to…

Energy / Oil Prices

Traders Cautiously Optimistic About Crude

Feb 16, 2024 at 09:45 | Editorial Dept

Weekly Performance and Overview As the week concludes, West Texas Intermediate (WTI) crude oil is experiencing a modest gain, increasing by approximately 1.35%. This movement reflects the interplay of…

Brent Needs To Be $90 or Higher To Reflect Actual Fundamentals

Feb 15, 2024 at 08:06 | Alex Kimani

Oil prices have enjoyed a sustained rally in the current month thanks to bullish demand projections and encouraging oil product inventory draws. Brent briefly touched this year’s high at…

Oil Prices Set to Rise as Global Stock Refills Ramp Up

Feb 14, 2024 at 07:12 | Tsvetana Paraskova

China’s rebuilding of oil inventories and higher crude purchases elsewhere for fear of escalating shipping disruptions in the Red Sea are set to support global oil demand and benchmark prices…

Oil Gains 2% as Israel Rejects Gaza Ceasefire Deal, US Gas Inventory Plummets

Feb 08, 2024 at 10:22 | Charles Kennedy

Crude oil prices have ticked up over 2% in the aftermath of the rejection of a ceasefire in Gaza, with Israeli forces launching new air strikes on Rafah city, and…

Oil Poised for Biggest Weekly Loss since November

Feb 02, 2024 at 09:20 | Tom Kool

Oil prices were falling by 2% on Friday morning and were headed to their biggest weekly decline since November 2023 as reports continue to emerge that negotiations of a possible…

Oil Prices Drop, Recover on Gaza War Ceasefire Proposal Rumors

Feb 01, 2024 at 12:56 | Julianne Geiger

Oil prices began tanking on Thursday afternoon as news was reported by Al Jazeera that Israel and Hamas had agreed to a ceasefire proposal that could put an end to…

U.S. Crude Oil Could Be Ripe for A Short Squeeze

Jan 29, 2024 at 18:35 | Tsvetana Paraskova

Crude oil inventories at Cushing have dropped to their lowest level for this time of year in over a decade, suggesting that a short squeeze could be coming for the…

Red Sea Disruptions Force Saudi Aramco to Slash Prices

Jan 25, 2024 at 10:14 | Gerald Jansen

Logistics have been pushed to the forefront of oil trade as Houthi missile and drone attacks continue to disrupt navigation through the Red Sea and the Suez Canal. The list…

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…

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