Tag Archives: EIA

Oil prices climbed on Wednesday, driven by expectations of robust global demand, particularly from the United States, the world’s largest crude consumer. Sentiment was further boosted by hopes that the Federal Reserve might initiate interest rate cuts soon, despite challenges in curbing inflation in the United States. Demand-Driven Rally Expectations …

Oil prices fell slightly on Tuesday due to a higher-than-expected forecast for US crude oil production and bearish economic data. Brent futures for May delivery settled 29 cents, -0.34% lower, at $82.13 per barrel, while the April US West Texas Intermediate crude contract ended 15 cents, -0.21% lower, at $77.77 …

Amid persistent rumours on a Fed interest rate cut in May, growing geopolitical concerns, and some comments implying that the ECB is not in a haste to start reducing rates, shifting trends in risk appetite ruled the mood across traded assets.In the midst of further repricing of an interest rate …

The liquidation turmoil facing China’s real estate sector as well as the strong US dollar cause WTI oil to decline by more than 1.50%. Despite geopolitical unrest, worries about the state of the world economy and central bank policies have also caused oil prices to decline.In light of the uncertain …

British Petroleum, the leading oil company, said on Monday that it was temporarily suspending all transportation operations through the Red Sea after attacks launched by the forces of the Houthi group, which controls most of Yemen at the weekend. The company added in a statement: “The safety and security of …

WTI is trading at $73.055 per barrel as US oil stocks rise more than anticipated. Earlier on the day, the American crude touched four month lows at $72.55.Concerns about declining oil demand are fueled by weak US economic indicators, such as an increase in unemployment claims and a decline in …

As the Middle East conflict heats up again, WTI Crude Oil is back up the daily charts. Requests for a cease-fire so that civilians could receive humanitarian aid were turned down.EIA barrel counts increased more than anticipated, and as geopolitical concerns accelerate, demand concerns will affect the price of crude …

On Tuesday, US WTI crude is reaching new ten-month highs. According to reports, the US shale output may fall faster than anticipated. Aiming at $100 per barrel, the outlook for oil is firmly favourable. In Tuesday’s trading session, WTI crude oil barrels briefly crossed the $93.00/bbl mark, before retreating to …

The price of natural gas tried to climb above $2.85. Trading speculation that Saudi Arabia and Russia might extend their voluntary production restrictions caused WTI oil to rise. The price of Brent oil increased as the oil markets as a whole rallied. As traders react to the EIA report, which …

The USD/CAD pair is trading in the 1.31s during the US session. The Canadian dollar wavers after data shows a lower-than-estimated crude oil inventory draw, reflecting weaker demand. The US dollar holds up surprisingly well despite lower-than-expected US housing data. Canada’s dollar trades lower against its US counterpart after crude …