Goldman Bullish On Oil As It Eyes Major Relief Package
Oil prices will be supported this year by the upcoming massive economic stimulus package in the United States and the low probability of much Iranian oil returning to the global Continue Reading
Crude oil futures down as pandemic concerns heighten
Crude oil futures fell during the mid-morning trade in Asia Jan. 22, as pandemic concerns heightened amid a lack of new drivers. At 10:43 am Singapore time (0243 GMT), the Continue Reading
Physical Oil Prices Firm on Asia Buying Amid China Virus Surge
Physical oil prices firmed in Asia after a flurry of tenders this week, although concerns remain about possible near-term demand weakness after a flare-up in Covid-19 cases across China. While the buying Continue Reading
Oil Drops Below $53 Amid Demand Pessimism and Firmer Dollar
Oil fell below $53 a barrel on a steadily deteriorating short-term demand outlook and a gain in the dollar that reduced the appeal of commodities priced in the currency. Futures in Continue Reading
Oil drops 1% as China’s surging COVID-19 cases trigger clampdowns
Oil prices fell on Friday, retreating further from 11-month highs hit last week, weighed down by worries that new pandemic restrictions in China will curb fuel demand in the world’s Continue Reading
OPEC closely watching Biden’s approach to Iran, Venezuela sanctions: Algerian minister
Global vaccination campaigns and the resumption of international air traffic will support oil prices within $55-$60/b in the near term, but OPEC will be closely watching for clearer signals from Continue Reading
Crude oil futures down on bearish API data, US political developments supportive
Crude oil futures ticked lower during the mid-morning trade in Asia Jan. 21, as data released by the American Petroleum Institute showed an unexpected build in US crude inventories, although Continue Reading
Oil Dips Toward $53 With Demand Pessimism Offset by Weak Dollar
Oil dipped below $53 a barrel in New York as the demand outlook in some of the world’s largest economies remained fragile. Futures slipped 0.6% after JPMorgan Chase & Co. cut Continue Reading
Oil Prices Rise Despite Consumption Concerns
Oil pared a rally late in the trading session as concerns over lackluster consumption clouded optimism around the likelihood of additional U.S. stimulus. Futures closed less than 1% higher in Continue Reading
Oil rises on U.S. stimulus hopes, tighter market under Biden
Oil edged higher on Wednesday on expectations that U.S. President Joe Biden’s administration will deliver hefty pandemic-related economic stimulus that will lift fuel demand and enact policies that will tighten Continue Reading