Tag Archives: Oil Prices

Oil prices remained relatively flat on Thursday, recovering from earlier losses but still trading below Wednesday’s close. Brent crude futures edged down 3 cents to $73.36 per barrel, while U.S. West Texas Intermediate crude slipped 2 cents to $70.56 per barrel by mid-morning trading in London. Fed Signals Slower Rate …

Oil prices climbed on Wednesday, driven by a decline in US crude inventories and anticipation of an interest rate cut by the Federal Reserve. However, uncertainty surrounding the Fed’s future monetary policy trajectory is limiting the upside potential for oil.US Crude Inventory DrawThe Energy Information Administration (EIA) reported a decrease …

OPEC announced on Wednesday a reduction in its global oil demand growth forecast for 2024, marking the fifth consecutive downward revision in its monthly report. This adjustment reflects increasing concerns over macroeconomic challenges, including slowing global economic growth, high interest rates, and subdued industrial activity. The group also lowered its …

The U.S. labor market demonstrated resilience in November as Nonfarm Payrolls (NFP) increased by 227,000, according to the Bureau of Labor Statistics (BLS) report released on Friday. This robust figure surpassed market expectations of 200,000 and significantly outpaced October’s revised gain of 36,000, which had initially been reported as just …

Oil prices edged lower on Thursday as investors weighed OPEC+’s decision to extend its production cuts until April 2025 against a projected surplus in global supply for next year. Brent crude futures fell 0.3% to settle at $72.09 a barrel, while U.S. West Texas Intermediate (WTI) crude futures declined 0.35% …

Oil prices firmed slightly on Wednesday as traders anticipated OPEC+ to extend voluntary production cuts, while ongoing geopolitical tensions provided additional support to the market. Market Performance Brent Crude Futures: Up 19 cents (0.26%) at $73.81 per barrel (0916 GMT). West Texas Intermediate (WTI) Crude: Gained 13 cents (0.19%) to …

Oil prices ticked higher on Tuesday, reflecting cautious optimism among traders ahead of a key OPEC+ meeting, but the market remains weighed down by concerns over weak demand and a lack of bullish catalysts. Market Performance Brent crude futures gained 0.4%, trading at $72.14 per barrel as of 0704 GMT. …

Oil prices advanced on Monday, driven by optimism over robust factory activity in China and renewed geopolitical tensions in the Middle East. However, concerns over potential oversupply in 2025 continued to cap gains. Market Movement Brent crude: Rose 57 cents (0.79%) to $72.41 per barrel by 0700 GMT. West Texas …

Oil prices slid on Friday, marking a weekly drop of over 3%, as the easing of geopolitical tensions and expectations of increased supply in 2025 overshadowed ongoing production cuts by OPEC+. The market continues to grapple with mixed signals, balancing near-term output restrictions with forecasts of a supply surplus in …

Oil prices rebounded at the end of Thursday’s trading, benefiting from an exchange of accusations between Hezbollah and Israel over breaches of the ceasefire agreement reached in recent days.Geopolitical tensions and related concerns, particularly affecting financial markets and oil, escalated after Israeli tanks shelled areas in southern Lebanon on Thursday. …