Tag Archives: EIA data

Since mid-April 2024, the global oil market has been in a tug of war mode, with remarkable fluctuations, as prices continued to swing and reacted to upward and downward pressures. In order to understand this volatility, it is essential to refer to reliable data and stay informed on global developments …

After US Fed Chair Jerome Powell stated that the Fed does not anticipate an increased danger of recession in the US economy, WTI US Crude Oil surged to its highest bids in a week. WTI immediately changed direction and dropped back into the $78.50 range, but it is still in …

Crude oil prices surged on the energy markets after US supplies fell more than anticipated. The US’s crude stockpiles saw a sharp decline, but refined petrol saw an increase, according to the EIA. Logistics for crude oil were hindered by the cold, but demand is predicted to rise due to …

Oil prices edged lower on Wednesday, as investors took profits following earlier gains on tighter U.S. crude supplies and China’s pledge to reinvigorate its economic growth.Brent futures dipped 17 cents at $79.46 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 40 cents at $75.35 a barrel.Prices pared gains …

The Natural Gas Index (XNG/USD) is trading at $2.637 MMBtu, at the time of writing, entering the US session on Thursday. Natural gas price pulls back after gas storage data beats estimates. In other words, natural gas corrects on intraday charts after Natural Gas Storage data shows an unexpected rise …

Oil price marginally recovered after the House of Representatives voted through the debt-ceiling extension bill on Wednesday evening. Gains were capped by higher-than-expected inventory levels. Oil prices have been volatile in recent weeks due to a number of factors. The House of Representatives voted through the debt-ceiling extension bill on …

Oil price declines as traders take profit. The US dollar continues rallying after US macroeconomic data reinforces an optimistic view of the economy. Oil, however, is supported by EIA inventory data, showing a steep drawdown in the prior week, reflecting rising demand.The comments by the Saudi Oil Minister warning short-sellers …

Prices for WTI extended last US session’s drop near $80.00 though crude oil received some initial support from encouraging Chinese data. The API’s weekly report on inventory is awaited at the moment. On Tuesday, renewed selling pressure pushes the price of a barrel of American benchmark sweet light crude oil …

The WTI crude oil hovers around three-week low after falling the most in a month. Wednesday witnessed climbing EIA Crude Oil stocks as an additional mixed clue surrounding global economic scene that is tending to favour oil bears.WTI crude oil managed to trim latest losses around the three-week low as …

Oil prices fell on Thursday after the Federal Reserve raised interest rates, which led to the rise of the dollar and increased fears of a global recession that will hurt demand for fuel; however, concerns about supplies limited the decline in prices. By 0750 GMT, Brent crude was down 85 …