Oil Prices Tank On Global Recession Fears
Oil prices continued to slide on Wednesday, falling on a string of worrying economic news. Markets were peppered with troubling data from September at the start of the week, with Continue Reading
Demand growth questions take a bite as crude falls further
Prompt crude futures settled lower Tuesday amid a slew of bearish indications. November NYMEX WTI settled 45 cents lower at $53.62/b, while ICE December Brent settled 36 cents lower at Continue Reading
Large Surprise Crude Draw Lifts Oil Prices
The American Petroleum Institute (API) has estimated a large crude oil inventory draw of 5.92 million barrels for the week ending September 26—a surprise compared to analyst expectations of a Continue Reading
Brent Oil Falls Below $60 After Saudis Restore Production
Despite the worst attack on its infrastructure in the oil giant’s 80-year-plus history, Saudi state-owned oil giant Aramco has succeeded in making all of its shipments in the month of Continue Reading
Crude tumbles as traders focus on slowing growth, Saudi recovery
Crude futures fell Monday as the market remained focused on demand growth concerns, and as Saudi Arabia said it has restored its production to more than 9.9 million b/d. NYMEX Continue Reading
Trump’s Latest Trade War Move Sends Oil Tanking
Oil prices fell again on Monday on waning hopes of a breakthrough in the U.S.-China trade war. Late last week, Bloomberg reported that the Trump administration was considering more extreme Continue Reading
Don’t Expect Oil Prices To Go Much Higher This Year
As sudden oil supply disruptions are offset by faltering demand growth, oil prices are expected to hold steady and near their current levels through the rest of this year, the Continue Reading
$300 Oil: What If The Attacks In Saudi Arabia Had Destroyed Production?
Saudi Arabia’s Crown Prince Mohammed bin Salman (MBC) has told CBS that oil could reach “unimaginably high numbers” if a war with Iran were to erupt, which he suggested could Continue Reading
Oil Prices Fall On Onslaught Of Bearish News
Oil prices fell sharply on Friday on easing tensions in the Middle East after a rather surprising turn of events. Saudi Arabia is implementing a partial cease-fire in Yemen, rumors Continue Reading
Banks See Oil Prices Staying Low Despite Attacks On Saudi Oil
Concerns about faltering global oil demand and expectations of rising U.S. crude oil exports trump fears of supply shortage after the attacks on Saudi oil and have investment banks predict Continue Reading