Tag Archives: oil demand

The year 2024 in the oil market was characterized by a perplexing blend of robust demand and lingering uncertainties. While global oil consumption reached a record high, defying expectations amidst concerns about slowing Chinese economic growth, the year ended with prices largely stagnant. Brent crude hovered around $74 per barrel, …

Oil prices edged lower on Tuesday as renewed demand concerns in China weighed on sentiment, while investors adopted a cautious stance ahead of the U.S. Federal Reserve’s final policy decision of the year. West Texas Intermediate (WTI) crude fell 11 cents to $70.60 a barrel (as of 0802 GMT). Brent …

Oil futures eased slightly on Monday after reaching their highest levels in weeks, as traders booked profits ahead of the Federal Reserve’s final policy meeting of the year. Despite the decline, prices remain supported by fears of supply disruptions linked to potential U.S. sanctions on major oil exporters like Russia …

Crude oil prices have recently seen a surge, pushing crude oil futures above the $70 per barrel mark. While this upward trend is fueled by factors like OPEC+ production cuts and geopolitical tensions, a closer look reveals a more complex picture. The recent rally in oil prices is a testament …

Oil prices rose by more than 4% to about $75 a barrel on Tuesday. So far, oil prices rose by more than 4% as escalation has intensified between Israel and Iran.Amid this geopolitical scene, the risk of a jump in oil prices that could trigger another global inflation shock appeared …

West Texas Intermediate (WTI) crude oil prices dropped below $80.00 per barrel due to weakening Chinese demand. The market decline is persisting, and bids are approaching long-term averages, leading to a slowdown in the WTI bull run.Tuesday saw a decline in WTI oil as investors were increasingly concerned about the …

Oil prices declined on Thursday as the stronger U.S. dollar and expectations of prolonged high interest rates raised concerns about potential demand reduction. Brent futures dropped 0.3% to $83.34 a barrel, while U.S. West Texas Intermediate (WTI) crude fell 0.3% to $79.00. Both benchmarks are on track for monthly losses, …

Oil prices fell on Thursday as markets await the latest U.S. crude oil stockpiles data. Resilient U.S. economic activity suggests that borrowing costs will remain higher for longer, potentially impacting demand. Brent futures lost 9 cents to trade at $83.52 a barrel, while U.S. West Texas Intermediate (WIT) crude was …

Oil prices extended gains from the previous session on Thursday on signs of stronger demand in the U.S., where data showed slower inflation than markets expected, bolstering the argument for an interest rate cut that could drive greater consumption. Brent futures rose 32 cents, or 0.4%, to $83.07 a barrel …

Boosted by Multiple FactorsOil prices climbed on Wednesday, propelled by a combination of factors including a weakening U.S. dollar, inventory declines, and optimistic inflation data. Brent crude futures surged by 0.5% to reach $82.77 a barrel, while U.S. West Texas Intermediate crude futures (WTI) also rose by 0.5% to $78.44 …