Oil Prices Fail to Get Boost from Blocked Suez
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 fall on prospect of resumption in Suez Canal flows, bearish EIA data
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 Retreats After Surge With Volatility Rising Amid Suez Mishap
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 Up After Suez Canal Blockage
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
Leap in Gas Prices Puts $3 a Gallon in Sight
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 Gets Suez Blockage Bounce Following Demand-Driven Sell-Off
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 bounces back but recovery stunted by European lockdowns, U.S. stock build
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 slides 6% as pandemic spread dims near-term outlooks
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
Oil Prices Fall Further After API Reports Crude Inventory Build
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 fall as Europe’s third viral wave weighs on sentiment
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