IEA: OPEC+ Has Put “A Floor Under Prices”
The OPEC+ agreement succeeded in at least putting “a floor under prices,” according to a new report from the International Energy Agency. The global supply surplus is not resolved, and Continue Reading
Crude oil futures higher on easing trade tensions, US stock draw
Crude oil futures were higher during mid-morning trade in Asia Wednesday amid signs of easing trade tensions between US and China while a draw reported in US crude inventories also Continue Reading
Oil prices steady as Sino-U.S. trade tensions ease
Oil prices steadied on Thursday, under pressure from high inventories but buoyed by a drawdown in U.S. crude stockpiles and indications that the trade war between the United States and Continue Reading
Oil Prices Steady After EIA Confirms Much Smaller Draw
Crude oil prices remained steady today after the Energy Information Administration confirmed an API estimate of a crude oil inventory draw but a much smaller one than API’s 10.18 million Continue Reading
Oil rises on Libya disruption, planned OPEC-led cuts
Oil prices rose on Wednesday, bolstered by export cuts from Libya and planned OPEC-led production cuts, pulling back briefly after the United States reported a smaller-than-expected crude inventory drawdown. U.S. Continue Reading
Crude oil futures trade higher on API data, OPEC cuts
Crude oil futures were higher during mid-morning trade in Asia Wednesday amid a draw reported in US crude inventories, while development around production cuts by OPEC and its allies kept Continue Reading
Oil Prices Head Higher After API Reports Huge Crude Draw
The American Petroleum Institute (API) reported a huge crude oil inventory draw 10.18 million barrels for the week ending December 7, compared to analyst expectations that we would see a Continue Reading
Oil pares gains on threatened U.S. government shutdown
Oil futures edged higher on Tuesday after paring most of their gains as stock markets turned negative on worries about a possible U.S. government shutdown. U.S. stock markets pulled back Continue Reading
Citi: Oil Prices Are Going Nowhere Next Year
We’ve been here before and since global oil markets are indeed cyclical, Citi’s new oil price forecast for 2019 should not come as much of a surprise. The bank forecasts Continue Reading
Global Market Turbulence Caps Oil Prices
The ink has barely dried on the highly-anticipated OPEC+ deal, but the oil market is moving on, growing concerned about other issues. Oil prices gained around 4 percent immediately after Continue Reading