Global equity benchmarks and oil prices rose on Friday while safe havens such as the dollar and U.S. Treasuries dipped as hopes for a global economic recovery overshadowed the continued Continue Reading
Crude oil futures rose during mid-morning trade in Asia March 26, as the market braced for the possibility that the Suez Canal may remain blocked by the stuck Ever Given Continue Reading
Oil resumed gains as investors weighed the implications of a massive container ship still stuck in the Suez Canal after a volatile few days that that saw prices swing wildly Continue Reading
Oil prices reversed a sharp sell-off a day earlier to rise about 2% on Friday on mounting fears that it could take weeks to dislodge a giant container ship blocking Continue Reading
Oil dropped as a strengthening dollar and mounting lockdowns in Europe blunted the potential impact of crude cargoes backing up outside the blocked Suez Canal. Futures fell 4.3% in New Continue Reading
Crude oil futures slid during the mid-morning trade in Asia on possibility of a rapid resumption in oil flows as a grounded container ship blocking the Suez Canal was partially Continue Reading
Oil retreated in Asia as traders monitored efforts to dislodge a massive ship blocking the Suez Canal, with market volatility rising after two wild days that saw prices whipsaw around Continue Reading
Oil rebounded, following a sell-off on Tuesday, as investors assessed the impact of a blockage in the Suez Canal and European manufacturing data beat expectations. Futures in New York added Continue Reading
The prospect of summer drivers crowding U.S. highways is powering steep gains in the price of gasoline, a sign of economic recovery and a boon for the pandemic-ravaged energy industry. Lifted Continue Reading
Oil rebounded, following a sell-off on Tuesday, as investors assessed the impact of a blockage in the Suez Canal and European manufacturing data beat expectations. Futures in New York added as Continue Reading
Oil prices rose more than 1% on Wednesday as investors sought bargains following the previous day’s slump, but the recovery was stunted by fears of a slow recovery in demand Continue Reading
Crude oil futures settled 6% lower March 23 as the market reeled from pandemic-dented demand outlooks and a stronger US dollar. NYMEX May WTI was down $3.79 at $57.76/b, settling Continue Reading
The American Petroleum Institute (API) reported on Tuesday a build in crude oil inventories of 2.927 million barrels for the week ending March 19. Analysts had predicted a much smaller Continue Reading
Crude oil futures fell during mid-morning trade in Asia March 23, as the market remained concerned over the third wave of the coronavirus in Europe given that extended mobility restrictions Continue Reading
Oil dropped below $61 a barrel on concerns about the near-term demand outlook amid the uneven rebound from the pandemic. Futures in New York slipped 1.1% after two days of Continue Reading
Oil edged higher on Monday as investors looked past the uneven demand recovery around the world following crude’s worst weekly plunge since October. Futures in New York eked out a Continue Reading
Crude oil futures were lower during mid-morning trade in Asia March 22, as investors remained nervous following the panic sell-off on March 18, while the prospect of an extended mobility Continue Reading
Brent oil gave up some gains posted at the end of the worst week since October as the dollar strengthened and as investors assessed the near-term demand outlook. Futures in London Continue Reading
Oil just experienced its biggest one-day price slump in more than six months, but it hasn’t veered off the road to recovery. Even as problems with Europe’s vaccine program and a Continue Reading
Oil came back from a sell-off that investment banks from Goldman Sachs to Morgan Stanley said was excessive and offered an opportunity to buy, with physical crude markets still showing Continue Reading
Oil prices suffered their biggest weekly fall since October as signs of flagging demand in key markets abruptly halted a vigorous rally. International benchmark Brent crude ended the week down almost Continue Reading
Oil’s recent price rout is likely transitory and offers an entry point into a market that’s been surging this year, according to Goldman Sachs Group Inc. and Morgan Stanley analysts. Thursday’s Continue Reading
Crude oil futures were rangebound to slightly higher during the mid-morning trade in Asia March 19, as investors looked for a bargain following the panic selling that saw prices plummet Continue Reading
Oil prices steadied on Friday, but were down 8% for the week, after an overnight sell-off as a new wave of coronavirus infections across Europe triggered fresh lockdowns and dampened Continue Reading
Oil plunged by 7%, the most since September, as vaccination efforts in some parts of the world stalled, casting uncertainty over the speed of an economic recovery and a full Continue Reading
Oil plunged by 7%, the most since September, as vaccination efforts in some parts of the world stalled, casting uncertainty over the speed of an economic recovery and a full Continue Reading
Retail investors with long positions in crude oil markets had to endure one of the most volatile years on record in 2020 thanks to the Saudi-Russia oil price war, oil Continue Reading
Oil extended declines as inflation concerns rattled broader sentiment and physical markets in Asia cooled. West Texas Intermediate retreated for a fifth straight day, putting the U.S. benchmark on course for Continue Reading
Crude oil futures ticked lower during the mid-morning trade in Asia March 18, after the Energy Information Administration showed a build in crude and product inventories, even as a free-falling Continue Reading
Oil fell to the lowest in a week after U.S. crude stockpiles topped half a billion barrels and the International Energy Agency said global supplies are plentiful. Futures in New Continue Reading
The market for physical crude barrels in Asia is showing signs of weakness with muted buying from some in China leading to ample supply. Spot differentials for cargoes scheduled to Continue Reading
Highlights US gasoline stocks rose 470,000 barrels on import surge RBOB cracks hit nine-day low US crude stocks up 2.4 million barrels RBOB futures fell sharply March 17 amid an Continue Reading
The Energy Information Administration reported a crude oil inventory build of 2.4 million barrels for the week to March 12, up/down from a build of 13.8 million barrels the authority Continue Reading
Despite the ongoing vaccine rollout snafu, including supply chain constraints, delayed approvals and—more worryingly—dozens of countries banning the cheapest and most widely available Covid-19 vaccine , there’s growing optimism that Continue Reading
Oil producers around the world are sticking to their guns and keeping oil production capped even as oil prices continue to rise. Historically, the highly cyclical and predictable pattern of Continue Reading
The February freeze that triggered mass blackouts in Texas led to chemical plant shutdowns that are disrupting global supply chains, causing a shortage of the raw materials needed for everything from medical Continue Reading
Crude oil futures were rangebound during the mid-morning trade in Asia March 17, as a surprise draw in US crude inventories helped ease concerns over weak European demand and increased Continue Reading
Oil fell the most in a week as investors assessed the state of the demand recovery. (Bloomberg) — Oil fell the most in a week as investors assessed the state Continue Reading
Oil retreated for a third day to trade below $65 a barrel, hurt by weakness in the market’s near-term pricing structure and a firmer dollar. West Texas Intermediate fell 0.9%, Continue Reading
Oil slipped for a fourth day on Wednesday as concerns about weaker demand in Europe outweighed an industry report that showed U.S. crude stockpiles unexpectedly fell last week. Several European countries Continue Reading
Vitol Group reaped record profits of around $3 billion last year as the world’s largest independent oil trader surfed the dramatic moves in energy markets, according to people familiar with Continue Reading
Crude oil futures fell during the mid-morning trade in Asia March 16, as the market sentiment was knocked by a trifecta of rising COVID-19 cases, supply-side worries and strengthening dollar. Continue Reading
Oil retreated for a third day to trade below $65 a barrel, hurt by weakness in the market’s near-term pricing structure and a firmer dollar. West Texas Intermediate fell 0.9%, Continue Reading
Oil prices fell on Tuesday, extending declines for a third day, as concerns about rising stockpiles in the United States added to the threat to demand posed by countries including Continue Reading
Despite optimism from Chinese data overnight, forecasts for lower OPEC+ output, and a weaker dollar, oil prices are tumbling this morning with WTI back below $64.50… Some have suggested the Continue Reading
Oil prices edged lower on Monday, pulling back from early gains fostered on strong Chinese economic news and ongoing supply restraint from major oil producers. Crude benchmarks have steadily climbed Continue Reading
The world’s top oil exporter, Saudi Arabia, wasn’t just thinking about the global oil market when it rolled over its extra production cut into April and had the members of Continue Reading
The United States could be on the cusp of a surge in gasoline prices with the price in some U.S. states rising to as much as $4 per gallon, according Continue Reading
Crude oil futures rose during the mid-morning trade in Asia March 15, as the market fell back on bullish macro fundamentals amid an absence of fresh cues. At 10:21 am Continue Reading
Oil opened the week in robust form after a raft of economic data from China added to signs of recovery from the coronavirus pandemic just as the OPEC+ alliance presses Continue Reading
