Oil futures rose by around 1% on Monday, recovering from last week’s steep losses as a potential hurricane neared the U.S. Gulf Coast, a critical area for refining. Brent crude climbed 67 cents, or 0.94%, to $71.73 per barrel by 0901 GMT, while West Texas Intermediate (WTI) crude rose 68 …
Read More »Oil Futures Surge on Hurricane Threat and Market Recovery
Oil futures experienced a significant rebound on Monday, rising by $1 as traders reacted to the potential impact of a hurricane system approaching the U.S. Gulf Coast and recovered from a recent downturn triggered by disappointing U.S. jobs data. By early trading, West Texas Intermediate (WTI) crude futures had climbed …
Read More »Oil Prices Inch Higher Amid Caution Ahead of Key U.S. Employment Data
Oil prices edged higher during Asian trading on Friday as investors remained cautious ahead of the release of key U.S. employment data. This comes amid weighing factors, including a significant withdrawal from U.S. crude inventories and a potential delay in production hikes by OPEC+ producers. By 0507 GMT, Brent crude …
Read More »U.S. Oil Futures Rise Amid Hopes for OPEC+ Supply Limits Despite Demand Concerns
U.S. oil futures edged higher on Wednesday, buoyed by expectations that OPEC+ may delay a planned output increase to support the market, which has been weighed down by concerns over sluggish demand growth. Oil Prices Climb As of 07:55 EST (11:55 GMT), West Texas Intermediate (WTI) crude oil futures rose …
Read More »Oil Prices Extend Decline Amid Libya Dispute Resolution and Global Demand Concerns
Oil prices continued their downward trend on Wednesday, extending the more than 4% drop seen in the previous session. The market remains under pressure, hovering at its lowest levels since December, driven by expectations of a potential resolution to the political dispute in Libya that has halted oil exports, along …
Read More »Oil at the threshold of green territory ahead of Fed’s Jackson Hole
For this Monday’s trading session, the oil price is on the verge of turning a negative performance into a positive one. Early Thursday, prices fell as traders turned their attention to concerns about Chinese demand and the negotiations for a cease-fire in Gaza. Hedge funds that are long the Japanese …
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