WTI rallies as Trump takes measured response toward China
NYMEX oil futures rallied in the final minutes of trading to settle sharply higher Friday amid optimism that the US and China could avoid a renewed trade war despite rising Continue Reading
Oil Prices Are Unlikely To Break $40 This Year
Despite production cuts from OPEC+ and North America and slowly improving demand, oil prices are not expected to average much higher than current prices in 2020 because of renewed U.S.-China Continue Reading
Oil Price Rally Breaks Records In May
Early signs of growing demand for crude oil have prompted a market optimism that has led to increased WTI buying, setting the stage for the benchmark’s best-ever monthly performance , Continue Reading
Oil Market Could See Long Term Contango
The oil market could stay in a state of contango for longer after supply and demand finally balance due to the vast amount of crude and products in storage, Reuters Continue Reading
Oil Now Faces Demand Uncertainty After Record Rebound From Crash
Oil posted its biggest monthly advance on record, just a few weeks after prices made a dramatic plunge below zero. Crude surged about 88% in May, with U.S. futures on Continue Reading
The Next Big Wildcard For Oil Markets
U.S. West Texas Intermediate crude oil is edging lower at the end of the week with prices being dragged down by weak U.S. fuel demand, fears of a second wave Continue Reading
Crude oil futures slip as market monitors US-China tensions
0237 GMT: Crude oil futures slipped in mid-morning trade in Asia Friday as the market turned its focus on US-China tensions after US President Donald Trump said late Thursday that Continue Reading
Oil Prices for May 29, 2020: Brent Crude, WTI
Oil trimmed its biggest monthly advance on record as crude was swept up in the broader negative sentiment around deteriorating U.S.-China relations. Futures in New York declined 2.3% on Friday, Continue Reading
Oil Prices Fall On Bearish EIA Data
The Energy Information poured cold water on oil bull circles this week when it reported a crude oil inventory increase of 7.9 million barrels for the week to May 22. Continue Reading
Oil Prices for May 28, 2020: Brent Crude, WTI
Oil extended declines after a industry report showed U.S. crude inventories swelled for the first time in three weeks. Futures fell 1.4% in New York, following Wednesday’s 4.5% decrease. The American Continue Reading