Oil Prices Rise As Saudi Arabia Attacks The Glut
Back in late May, Saudi Oil Minister Khalid Al-Falih said that ‘exports to the U.S. will drop measurably ‘, as the OPEC Kingpin adjusted its focus to reducing exports to Continue Reading
Physical oil market tightens as refiners scramble for crude:
Physical crude markets are at last showing signs of tightening as record refinery consumption in the United States coincides with a slowdown in oil exports from the Middle East Gulf. Continue Reading
Is This Oil Price Rally Sustainable?
Oil prices are on track for the biggest weekly gain so far this year, with Brent solidly above $50 per barrel and WTI not far behind. Shell’s CEO: Oil prices Continue Reading
Oil climbs for sixth day, near eight-week highs on U.S. crude stock declines
Oil prices extended a rally into a sixth day on Friday, hovering near 8-week highs on a decline in U.S. inventories and OPEC’s ongoing efforts to curb production to ease Continue Reading
Oil prices ease, but near eight-week highs on lower U.S stocks
Oil prices dipped on Thursday after three days of gains, but were sitting just below 8-week highs on hopes that a steeper-than-expected decline in U.S. crude oil inventories will reduce Continue Reading
Oil Rises, But Saudis Face Daunting Dilemma
OPEC producers have reached a catch-22 in their quest to rebalance global supply fundamentals for their precious crude oil markets. While deeper cuts are necessary to bring supply and demand Continue Reading
Oil Prices Leap Higher After API Reports Huge Crude Draw
The American Petroleum Institute (API) reported a huge draw of 10.23 million barrels in United States crude oil inventories, compared to S&P Global Platts survey of analysts who expected a Continue Reading
Oil adds to rally on optimism over declining stocks
Oil prices firmed on Wednesday to hold near eight-week highs hit in the previous session, on expectations of a drawdown in U.S. stocks and as a rise in shale oil Continue Reading
Oil Prices Spike In Spite Of Bearish EIA Forecast
Oil prices have faced increased pressure in 2017; if it’s not Nigeria and Libya output, it’s US shale. If it’s not US shale, it’s predictions of weakening demand. If it’s Continue Reading
As Hedge Funds Bet Against Oil, Traders See Another Story
Traders and refiners buying and selling actual barrels say it’s starting to look somewhat more bullish. (Bloomberg) — Hedge funds are still holding large bearish bets against oil and OPEC, Continue Reading