Crude futures plunged roughly 10% Friday, following news that OPEC+ negotiations for deeper production cuts broke down . NYMEX front-month crude settled at $41.28/b down $4.62 (10.1%) day on day, Continue Reading
Market Movers (JULI) – Nothing should depress oil markets more this week than Goldman Sachs’ cutting its 2020 global oil demand growth forecast – again – to -150,000 bpd, when Continue Reading
Brent suffered its biggest one-day loss in more than 11 years on Friday after Russia balked at OPEC’s proposed steep production cuts to stabilize prices as the coronavirus outbreak slows Continue Reading
Crude oil futures dipped during mid-morning trade in Asia Friday after uncertainty surrounding OPEC+ supply sparked off a sharp decline overnight Thursday, as the market look to Russia to approve Continue Reading
Oil slipped amid a split between Saudi Arabia and Russia over whether deeper production cuts are required to offset the demand hit from the coronavirus epidemic. Futures fell 0.9% in Continue Reading
OPEC+ found itself stuck yet again, after a day of talks ended with its two most important members split over whether they should deepen production cuts to offset the huge demand Continue Reading
The oil price slide that prompted several weeks of oil contract selling among hedge funds could be coming to a close, according to the latest data on hedge fund oil Continue Reading
Hedge funds are clearly bracing for even harder times for the battered oil market as bearish bets keep piling on. According to data from research firm S3 Partners, short sellers Continue Reading
The outlook for the global economy continues to darken, and a growing number of analysts see oil demand contracting in 2020. Despite the recent rebound in oil prices – largely Continue Reading
Crude oil prices remained unchanged after the Energy Information Administration reported a crude oil inventory build of 800,000 barrels for the week to February 28. Gasoline inventories, however, fell substantially. Continue Reading
