Oil prices rose 4.5% a barrel on Wednesday to their highest level in more than a month after U.S. crude inventories shrank and as major producers cut nearly a third Continue Reading
Crude oil futures were higher in mid-morning trade in Asia Wednesday on the back of a larger-than-expected drop in US oil inventories reported by an industry group. At 10:55 am Continue Reading
Oil prices rose on Wednesday after industry data showed U.S. stockpiles fell far more than expected, alleviating concerns about oversupply, while major U.S. producers evacuated rigs in the Gulf of Continue Reading
Oil futures rose on Tuesday as Middle East tensions and OPEC supply cuts kept global benchmark Brent crude above $64 a barrel, while gains were limited by the U.S.-China trade Continue Reading
Geopolitical tensions and OPEC+ cuts appear to have put a floor under oil prices, countering fears of a global economic recession Chart of the Week U.S. oil production continues to Continue Reading
The American Petroleum Institute (API) reported a huge crude oil inventory draw of 8.129 million barrels for the week ending July 4, compared to analyst expectations of a smaller 3.081-million Continue Reading
Oil demand continues to soften, which could result in a supply surplus in the second half of this year. In its latest Short-Term Energy Outlook , the EIA downgraded its Continue Reading
OPEC and allies had little choice but to roll over their production cuts into the first quarter of 2020 amid higher-than-average global inventories, continued uncertainties over the global economy and Continue Reading
Crude oil futures were lower during mid-morning trade in Asia Tuesday following a survey that showed that OPEC compliance to its production cut deal was lower in June, while market Continue Reading
Oil rose above $64 a barrel on Tuesday as OPEC supply cuts and Middle East tensions outweighed the U.S.-China trade dispute that is dragging on the global economy and oil Continue Reading
