Oil Prices Decline on Crude Stocks Growth
Oil prices slipped on Thursday, after a sharp fall in U.S. gasoline stocks was outweighed by an increase in crude stocks. Brent crude, the global oil benchmark, fell 0.7% to Continue Reading
Oil prices give up early gains as oversupply weighs
Oil prices slipped after gains earlier on Thursday and the previous day as overproduction and large volumes of unsold crude and ample refined products around the world weighed on markets. Continue Reading
Oil Soars 6 % As Andy Hall Warns Of A “Violent Reversal”
WTI Crude is up over 6 percent in 24 hours since yesterday’s surprise build (and production cut), as the machines squeeze out an over-exuberant short positioning once again. However, just Continue Reading
Major Banks Growing More Bearish On Oil Prices
The renewed downturn in oil prices has forced major banks to slash their price forecasts for 2017 as a new bear market induces heightened pessimism. The Wall Street Journal surveyed Continue Reading
OPEC’s New Chief Says Oil Above $100 a Barrel Was ‘Abnormal’
Oil above $100 was ‘unsustainable’ risk to economy: Barkindo Rise in U.S. rigs unlikely to boost output or hurt price: OPEC Oil’s climb above $100 a barrel before prices crashed Continue Reading
Oil Prices Decline on Crude Stocks Growth
Oil prices slipped on Thursday, after a sharp fall in U.S. gasoline stocks was outweighed by an increase in crude stocks. Brent crude, the global oil benchmark, fell 0.7% to Continue Reading
Oil prices give up early gains as oversupply weighs
Filled oil drums are seen at Royal Dutch Shell Plc’s lubricants blending plant in the town of Torzhok, north-west of Tver, November 7, 2014. Oil prices slipped after gains earlier Continue Reading
As U.S. crude wobbles near $40, new oil rally in doubt
U.S. crude’s slide below $40 a barrel this week has hardened the resolve of oil market bears to drive prices lower, with oversupply, refining cutbacks and a breakdown in the Continue Reading
Overstated supply risks likely to offer limited support to oil bulls: Citi
A maze of crude oil pipes and valves is pictured during a tour by the Department of Energy at the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. Continue Reading
Why The Bear Market Could Be Over In A Flash
Oil entered bear market territory this week as WTI and Brent fell more than 20 percent from their June peaks. WTI even dropped below $40 per barrel for the first Continue Reading