Oil fell below $19 a barrel in New York after a wave of gloomy demand forecasts and a cratering physical market outweighed an unprecedented deal to cut output. China’s economy suffered a historic Continue Reading
ICE June Brent settled up 13 cents at $27.82/b while NYMEX May WTI settled unchanged on the day at $19.78/b. Indications of a contraction in US crude supply placed a Continue Reading
Oil closed under $20 a barrel for a second day as projections that demand will fall to a 30-year low outweighed an agreement by the world’s biggest producers to curb supply. Futures Continue Reading
The physical oil market, where millions of barrels of real cargoes are traded each day, needed OPEC+’s historic cuts to global crude production months ago. On Sunday, producer nations pledged Continue Reading
Crude oil futures rebounded in mid-morning trade in Asia Thursday, after front-month WTI sank overnight to settle at an 18-year low on Wednesday. Nevertheless, the outlook remains bearish amid a Continue Reading
Oil was anchored near $20 a barrel as concerns over virus-led demand destruction outweighed an agreement by the world’s biggest producers to curb supply. Futures rose Thursday but remained near their lowest Continue Reading
Oil prices were broadly stable on Thursday after sharp losses in the previous session, with investors hoping that a big build-up in U.S. inventories may mean producers have little option Continue Reading
Front-month WTI settled at an 18-year low Wednesday after US Energy Information Administration data showed US crude stocks posted their largest-ever weekly build last week. NYMEX May WTI settled down Continue Reading
Just days after OPEC and its allies announced their big deal to rescue the global oil industry, it’s becoming brutally clear that all they’ve done is limit the worst of Continue Reading
The oil market has spent the past few days sniffing around an Opec deal that promised the biggest cuts to production in history – and has decided it was undercooked. Continue Reading
