Tag Archives: oil supply

Oil prices fell in early Asian trading on Monday, giving up gains made on Friday, as peace talks between Israel and the Palestinian Islamic Resistance Movement (Hamas) in Cairo eased fears of a widening conflict in the Middle East. US inflation data also reduced expectations of interest rate cuts soon. …

Oil prices are reversing more quickly than expected as US reserves surge. The prospect of longer-term higher interest rate environment is raising worries about a decline in crude oil prices. The impact of geopolitical concerns has been mitigated by these fears. On Wednesday, there will be a significant decline in …

The ongoing Gaza crisis as well as fresh Houthi attacks are keeping barrel prices high. Monday saw a test of $78.11 a barrel for West Texas Intermediate crude, finding the opportunity to gain momentum as US markets were closed in observance of the federal holiday known as American President’s Day. …

Subdued Movement Overview:Oil prices displayed a mixed performance on Friday as market participants weighed expectations of slowing demand against hopes for potential interest rate cuts in the United States. Brent crude futures experienced a marginal decline, while US West Texas Intermediate crude futures saw marginal gains. Price Dynamics:Brent crude futures …

Wednesday witnessed a decrease in crude oil price following an earlier surge. US Crude stocks are still rising more quickly than the markets had predicted. Barrell prices are floored by geopolitical headlines. Early on Wednesday, WTI crude oil touched new multi-week highs around $78.50, but US barrel counts revealed an …

A poll conducted by Reuters, on Friday, indicated that international oil prices are expected to remain around $80 per barrel in 2024, with analysts predicting that weak global growth would limit demand and geopolitical concerns might trigger price support.Analysts questioned if supply reductions by the Organization of the Petroleum Exporting …

The US and Western allies have imposed sanctions on oil shippers and traders who have been helping Russia bypass price restrictions. Since a price cap on Russian oil was set last year, Moscow has developed a shadow fleet of tankers and found alternative insurance and financing options, enabling it to …

According to Wall Street analysts, there is a chance that oil prices could possibly rebound in the upcoming year, though probably not much. Five major banks have projected that the global benchmark Brent will average roughly $85 per barrel in 2024, down from its current level of $77.Goldman Sachs Group …

Due to investors’ worries when the US Consumer Price Index, or CPI, surpassed expectations, WTI crude oil prices plunged to a new low for the day. Crude Oil dealers, meanwhile, are focused on salvaging the day. Despite hitting a new low for the week, geopolitical unrest and supply worries continue …

Following China’s rate cut and the significant drive for greater lending, which indicate a deteriorating economy, WTI crude declined by 0.95 percent. Pessimism is increased by the significant 31% decline in Saudi Arabia’s oil shipments to China in July.The US rig count is falling, indicating a likely tightening of the …