Citi: Demand Growth Could Push Oil To $60 By Christmas
Crude oil prices could jump to US$60 a barrel by this year’s end thanks to growing demand and lower OPEC supply, according to Citigroup’s senior energy analyst Eric Lee, as Continue Reading
Oil Up? Oil Down? Blame the Algorithms
When energy analysts and investors couldn’t figure out oil markets this year, they blamed one group: algorithmic traders. On various days over the first six months of 2017, even amid Continue Reading
The Major Wildcard That Could Send Oil To $120
The latest rally in oil prices ran up against a wall yet again, and the same fears about oversupply have not receded in the slightest. The expectation from most oil Continue Reading
Oil recovers some losses but market still under pressure
Oil prices recovered some losses on Monday after a 3 percent fall in the previous session, but markets remain under pressure from high drilling activity in the United States and Continue Reading
Is This The “New Normal” For Oil Prices?
The oil market is suffering from whip lash. After plunging close to $42 per barrel in late June, and officially entering a bear market, WTI has gained nearly 10 percent Continue Reading
Oil could hit $60 before year-end: Barron’s, citing Citi analyst
A pump jack is seen at sunrise near Bakersfield, California October 14, 2014. Accelerating world oil demand and reduced supply from the Organization of the Petroleum Exporting Countries (OPEC) could Continue Reading
Why oil could jump back to $120
Dwane said geopolitical risks could cause prices to skyrocket as several oil producing states are fragile, and oil prices are currently too low for anyone to want to drill fresh Continue Reading
Oil prices slump over 1 percent on rise in U.S. output
il prices fell more than 2 percent on Friday after data showed U.S. production rose last week just as OPEC exports hit a 2017 high, casting doubt on efforts by Continue Reading
Brent bulls and bears play options tug-of-war
The Brent crude oil options market is showing a definite split between the optimists and the pessimists this week, but it would seem the bulls are starting to gain the Continue Reading
Oil prices firm on rising political risk, but ample supply caps gains
Oil markets were firm on Wednesday on worries over geopolitical tensions in the Korean peninsula and the Middle East, although prices were capped as supply remains ample despite an OPEC-led Continue Reading