Why The Oil Rally Isn’t Over Yet
Crude oil sentiment is shifting in a bullish direction, with OPEC+ cuts and a growing list of serious outages taking supply off of the market. Saudi Arabia recently signaled that Continue Reading
Flurry Of Bullish News Boosts Oil Prices
Oil market sentiment has swung from bearish to bullish in the last few days as tailwinds for the commodity strengthen. A string of updates from OPEC and Venezuela, along with Continue Reading
Brent dips, but still set for biggest first-quarter rise since 2011
Brent crude oil eased on Monday, but remained on track for its strongest first quarter in eight years, thanks to a growing belief among investors that OPEC’s supply cuts will Continue Reading
Oil rises over 2 percent to 2019 highs on tightening supplies
Oil prices rose more than 2 percent to their highest this year on Friday after an outage at Saudi Arabia’s offshore oilfield boosted expectations for tightening supply while progressing U.S.-Sino Continue Reading
US Atlantic Coast refinery issues, Venezuela sanctions help rally oil futures
Unplanned work at Phillips 66’s Bayway, New Jersey, refinery and further sanctions on Venezuela’s oil sector helped rally the oil complex Friday. NYMEX March RBOB settled 6.44 cents higher at Continue Reading
A Big Week For Oil Bulls
Oil prices headed higher on Friday for the fifth day in a row as fears related to U.S.-China trade talks subsided and production cuts continued to make headlines. Oil posted Continue Reading
Crude oil futures up on expected fall in US rig data, Russian compliance
Crude oil futures were higher during mid-morning trade in Asia Friday amid an expected draw reported in US oil rig data while signs of continued compliance between OPEC producers and Continue Reading
Brent oil briefly hits $65 as production cuts fuel 2019 high
Brent crude oil briefly reached 2019 highs above $65 per barrel on Friday, as OPEC-led supply cuts and the announcement of a higher-than-expected cut by Saudi Arabia this week encouraged Continue Reading
Oil prices edge higher as financial markets pare some losses
Oil prices edged higher on Thursday and Brent hit the highest level this year, but gains were capped after the steepest decline in U.S. retail spending since 2009 heightened investor Continue Reading
Oil market’s ‘shock and awe’ isn’t coming from Saudi Arabia
Goldman Sachs thinks Saudi Arabia is leading oil cartel Opec in a policy of “shock and awe,” making bigger than expected supply cuts in an effort to lift pnces. Khalid Continue Reading