Tag Archives: oil demand

On Friday, WTI crude oil trades at $90.44 versus $90.11 on Thursday. Brent trades at $95.17 versus $90.75 on Thursday.Bearish sentiment dominated oil markets amid fears of demand destruction. Rumors on nuclear deal renewal are pushing crude prices down. Inventory draws in the US are pushing prices higher, but downward …

Western Texas Intermediate crude oil has dropped from 1% to 3%, extending its losses to three consecutive days. Mixed US data and weaker Industrial Production as well as Retail Sales from China keep producers uncertain of total oil requirements. The Iran nuclear deal agreement would free additional crude to the …

WTI crude oil is advancing during the week and is erasing last week’s losses, gaining almost 7%. Crude also benefits from the increased the appetite for more energy which remained below $100 for three successive days.WTI rallied sharply on Tuesday, almost 2% amidst an upbeat market mood, despite Monday’s Apple …

The White House memo (noting that US macroeconomic data, including the June jobs report, are not consistent with a recession) was a good attempt to improve market sentiment. The document added that “labour market strength puts the US in a better position than many other countries to transition to lower …

Oil prices are expected to slip towards $90.00 due accelerating global recession-linked fears. Lockdown in China and interest rate hikes by Western central banks have also trimmed oil price forecasts.WTI futures have displayed a steep downside after surrendering the psychological support of 100.00 last week. Crude oil recorded three-month low …

Oil prices rose for a third day in a row on Tuesday as major producers such as Saudi Arabia and the United Arab Emirates seem unlikely to be able to increase production significantly, while political turmoil in Libya and Ecuador heightened supply concerns. The price of US West Texas Intermediate …

Oil prices extended gains on Monday as investors awaited any moves against Russian oil and gas exports that might be taken during the Group of Seven leaders meeting in Germany. There is a looming prospect of tighter market supplies as Western governments seek ways to reduce Russia’s ability to finance …

Oil prices rose by more than $1 a barrel on Friday, boosted by tight supply, although crude is heading lower for a second week amid concerns that higher interest rates could push the global economy into recession. On Thursday, Federal Reserve Chairman Jerome Powell said the Fed’s focus on curbing …

On Friday, oil prices moved in a narrow range after briefly rising around $1 a barrel, as the market weighed fears of slowing demand due to lower economic activity in the United States and uncertainty surrounding supplies. Brent crude futures fell five cents, or 0.1 percent, to $110 a barrel …

Oil prices rose on Thursday after falling earlier as investors assessed the risks of a recession and how demand for fuel will be affected by higher interest rates and tight supplies. Brent crude futures rose 38 cents, or 0.3 percent, to $112.12 by 1204 GMT, after falling to $108.04 earlier …