Tag Archives: Crude oil

Crude oil prices continue to face significant downward pressure as a confluence of bearish factors converge. The recent release of the International Energy Agency’s (IEA) monthly report has further dampened the outlook for 2025 oil demand, adding to the prevailing bearish sentiment.The IEA’s downward revision of its 2025 oil demand …

Crude Oil prices have faced downward pressure due to a combination of factors, including increased supply and weakening global demand. Despite a brief rebound, the overall market sentiment remains bearish.Key Factors Impacting Oil Prices:OPEC’s Supply Outlook: The Organization of the Petroleum Exporting Countries (OPEC) has revised its global oil demand …

The US Dollar continued its upward trajectory, boosted by higher interest rates and stronger-than-expected economic indicators. This surge was particularly pronounced ahead of the release of crucial Personal Consumption Expenditure (PCE) inflation data on Friday.Economic Data:Initial jobless claims fell to 231,000 for the week ending August 25, compared to the …

After Tuesday’s abrupt decline, gold prices soon resumed their upward trajectory, on Wednesday, with the immediate goal being the all-time high, which is located little below $2,200 per ounce. Gold closed the North American session at $2175.60 per ounce.The US weekly crude oil and petrol stockpiles unexpectedly declined, and rising …

Crude oil futures rose sharply after Israel rejected a ceasefire offer in Gaza, reinforcing concerns of a wider Middle East conflict. The recent bombing of Rafah by Israeli forces in Gaza has also boosted crude prices. Geopolitical tensions, particularly between the US and Iran, have been a key source of …

Gold is -0.85% down, trading around $2037 per ounce at the time of writing, obviously impacted by the rallying US dollar following surprise NFP reading on Friday.European equities gained after the US Nonfarm Payrolls reached a one-year high, pushing investors further away from rate cut expectations. The pan-European STOXX600 index …

Oil prices have dropped due to massive weekly gasoline and distillate stock builds, which overshadowed a larger-than-expected crude stock draw. Brent crude settled down 66 cents, or 0.8%, to $77.59 during the session, while US West Texas Intermediate crude futures settled down 51 cents, or 0.7%, to $72.19. Low fuel …

According to Wall Street analysts, there is a chance that oil prices could possibly rebound in the upcoming year, though probably not much. Five major banks have projected that the global benchmark Brent will average roughly $85 per barrel in 2024, down from its current level of $77.Goldman Sachs Group …

Gas prices rose in the Netherlands and Britain on Monday morning, October 30, driven by news that Egyptian gas imports would stop, which will consequently affect its exports of liquefied natural gas. Cold weather and unscheduled outages in Norway also supported prices. The Dutch November benchmark natural gas contract rose …

Gold prices rebounded on Tuesday as benchmark US Treasury bond yields declined and investors awaited economic data for clues about interest rates in light of the growing tensions in the Middle East. Gold rose in spot transactions 0.3 percent to $1,977.79 per ounce by 0712 GMT, while US gold futures …