Kuwait's offshore oil discovery in…
Despite the global push for…
Oil was trading down slightly on Thursday but largely holding onto its gains from the previous day, which saw the U.S. benchmark rally over 2.9%. American jobs data are feeding…
Weekly Recap of Crude Oil Market The crude oil market experienced a volatile week, influenced by a mix of geopolitical events, economic indicators, and supply-demand factors. Despite some downward pressure,…
For a while now, crude prices have been driven largely by demand, both existing and forecast. Supply has been quite tight, but that has been offset by expectations for an…
In its latest market note, ING states that OPEC+ policy is still the critical factor in determining the state of the oil markets. At the beginning of 2024, ING projected…
Brent crude soared to $87.50 per barrel on July 4th for the first time since mid-April, holding firm as a flurry of bullish news supports crude prices in early July.…
The energy sector finished the second quarter as the second worst performer among U.S. market sectors, posting a -4.5% return compared to a 4.6% gain by the S&P 500 as oil demand…
Brent crude overtook $86 on Thursday as fears of an all-out war between Israel and Lebanon took center stage, with Iraq’s Iran-backed militias vowing to strike U.S.…
The pessimism that has gripped the global oil market for weeks as traders suspect weakening demand growth this week began to dissipate, replaced by signs of emerging optimism. All because…
Oil Market Weekly Recap and Forecast Oil prices closed higher on Thursday, rebounding after a week of significant losses. The market reacted positively to the European Central Bank's (ECB) decision…
Crude oil prices were on course to end the week with the third consecutive loss after OPEC+’s latest meeting surprised observers with the possibility of some supply returning…
OPEC+ agreed on Sunday to extend most of its oil output cuts well into 2025 amid tepid demand growth, rising U.S. production and high interest rates. OPEC+ is currently…
Crude oil prices moved lower today, after the U.S. Energy Information Administration reported an estimated inventory build of 1.2 million barrels for the week to May 31. The change
For years, market participants have been lamenting the lack of detailed communication from OPEC+ on the group's intended production beyond the following three months. This weekend, the alliance gave them…
By John Kemp, senior energy analyst Oil futures prices have fallen to the lowest level for four months and calendar spreads have slumped after OPEC+ ministers…
Brent crude was trading down well over 3% on Monday, marking the first time the global benchmark has been below $80 since February, with the U.S. crude benchmark down over…
Crude oil prices sunk following the Energy Information Administration’s report of an estimated inventory decline of 4.2 million barrels for the week to…
Brent crude and U.S. benchmark crude oil prices gained well over 1% in thin Monday trading, with international inflation data and the potential for rate cuts globally taking center stage…
Dynamics in the global oil markets have shown little change over the past couple of weeks with pessimism still high and hedge funds still leaning towards the short side of…
The U.S. crude oil benchmark, West Texas Intermediate (WTI) has fallen well below the $80 mark it surpassed at the beginning of the week, with Brent crude also losing ground…
Oil prices have pulled back sharply to a three-month low as a combination of demand concerns and easing geopolitical premium take a toll. Last week, the Energy Information Administration's (EIA)…