Oil hovers near 2019 highs amid OPEC cuts
Oil prices hovered around 2019 highs on Thursday, bolstered by OPEC-led supply cuts and U.S. sanctions on Venezuela and Iran, but were capped by slowing growth in the global economy. Continue Reading
Oil settles 1 percent higher on hopes of market rebalance, trade deal
Crude prices rose more than 1 percent on Wednesday to their highest level this year on hopes that oil markets will balance later this year, helped by output cuts from Continue Reading
Barclays: Head-Spinning Volatility In Oil Will End
Two separate reports from major investment banks over the past week put forward this argument. Bank of America Merrill Lynch predicts that medium-term oil prices will be “anchored” around $60 Continue Reading
The Ultimate Tool To Prop Up Oil Prices
In the late sixties, an economic debate began between East Coast economics departments (saltwater universities) and midwestern colleges (freshwater universities). Milton Friedman, the spokesperson for the freshwater universities, made the Continue Reading
Crude futures stable to lower on US unconventional output growth forecast for March
Crude oil futures were stable to lower during mid-morning trade in Asia Wednesday after the Energy Information Administration forecast a rise in US unconventional oil production in March. Expectations of Continue Reading
Oil dips below 2019 highs as surging U.S. supply counters OPEC cuts
Oil prices slipped away from 2019 highs on Wednesday, with surging U.S. supply and slowing economic growth tempering upward pressure from supply cuts led by producer club OPEC and from Continue Reading
Oil Prices Nearing Breakout Levels
OPEC+ cuts, supply disruptions and an easing of trade tensions between the U.S. and China has boosted crude oil to a three-month high. Bank of America Merrill Lynch says that Continue Reading
Crude oil futures mixed on output flows and bearish China data
Crude oil futures were mixed during mid-morning trade in Asia Tuesday as markets digested bullish reports on Saudi crude exports and bearish reports on China demand data. At 10:35 am Singapore Continue Reading
Oil hovers below 2019 highs on OPEC cuts, trade talks in focus
Oil stayed within sight of its 2019 high of almost $67 a barrel on Tuesday, supported by OPEC-led supply cuts although concern about slowing economic growth that would curb demand Continue Reading
Bank Of America: Oil ‘Anchored’ Until 2024
Brent oil prices should trade between a relatively narrow range of $50 to $70 per barrel through 2024, with prices “anchored” around $60, according to a new report from Bank Continue Reading