Oil Rallies On Signs Of A Global Reopening
Oil prices rose early on Wednesday on a spate of relatively positive news. The most obvious for the oil market was the smaller-than-expected build in crude inventories reported by API. Continue Reading
Oil Jumps Amid Output Cuts and Early Signs of Demand Recovery
Oil jumped for a second day as global production cuts deepened and signs of a fledgling demand recovery emerged. Futures in New York rose by as much as 18%. Norway said Continue Reading
Oil Climbs on Biggest Jump in U.S. Gasoline Demand in 11 Months
Oil rallied on optimism that consumption could gradually return as major producers continue to cut output to counter a global glut. West Texas Intermediate futures surged 22% Wednesday. U.S. gasoline stocks Continue Reading
Crude futures rebound in Asia trade on uptick in risk appetite; outlook remains volatile
Crude oil futures were higher in mid-morning trade in Asia Wednesday amid a marginal improvement in risk appetite, though analysts said prices were likely to remain volatile in the near Continue Reading
Oil Bounces Back With Output Cuts Looming, Storage Filling
Oil clawed back its recent heavy losses as output cuts from major producers seek to stymie an unprecedented global glut. Futures rose by almost $2 in New York to around $14 a barrel. Russian oil Continue Reading
Oil Falls After Major Index Bails Out of June WTI Contract
Oil fell following wild price swings set off when a major index tracked by billions of dollars in funds said it would exit near-term contracts for fear prices may turn Continue Reading
Oil Plunges Toward $10 After Sudden Index Shift Spurs Fire Sale
Oil fell following wild price swings set off when a major index tracked by billions of dollars in funds said it would exit near-term contracts for fear prices may turn Continue Reading
Brent Oil Price Could Double By December
WTI is witnessing wild price swings as U.S. producers send their crude to the Strategic Petroleum Reserve because commercial storage tanks are close to reaching capacity. Oilprice.com’s Michael Kern has Continue Reading
Traders Are Betting Big On An Oil Price Rebound
Global oil storage space is running low, production is not falling quickly enough, and yet last week hedge funds bought a record amount of WTI contracts, Reuters’ John Kemp said Continue Reading
Another day, another 20% plunge in WTI oil
Another big fall in oil prices dragged hordes of petrocurrencies under on Tuesday but even an HSBC warning of mounting bad credit and a near 80% plunge in BP’s profits Continue Reading