Tag Archives: WTI crude oil

A larger-than-expected weekly decline in US crude stockpiles and a weaker US currency overcame hints of slower Chinese economic growth as oil prices rose by almost 2% on Wednesday. By 1:33 p.m. EDT (1733 GMT), Brent futures had increased by $1.35, or 1.6%, to $85.08 per barrel, while US West …

Oil prices experienced a slight decline on Wednesday, with Brent crude hovering near a one-month low due to persistent worries about weakening demand in China. However, the losses were somewhat mitigated by a reported decline in U.S. oil inventories. Key Points: Brent and WTI Decline: Brent crude oil futures fell …

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 experienced a decline on Tuesday due to worries about a slowing Chinese economy potentially reducing oil demand. This occurred despite a growing consensus that the U.S. Federal Reserve might begin cutting interest rates as early as September. Key Points: Chinese Economic Slowdown: China’s weaker-than-expected economic growth in the …

Oil prices continued their upward trend in Asian trade on Thursday, bolstered by a weakening dollar ahead of key U.S. inflation data and expectations of tighter global supplies. Dollar Weakness and Rate Cut Bets The dollar experienced steep losses this week as investors focused on upcoming consumer price index (CPI) …

WTI backslid to $81.00 as energy market concerns weigh heavy. API reported a second, albeit smaller drawdown in US Crude Oil supplies.the Chinese demand remains lower than expected in 2024, risk bid from Beryl evaporates. West Texas Intermediate (WTI) US Crude Oil extended a near term decline on Tuesday, falling …

The new trading week began with some respectable gains for the dollar, which shed some of its NFP-related weakness and gained some new momentum in reaction to the risk complex’s widespread knee-jerk. While this was going on, investors were processing the results of the French snap elections and progressively turned …

On Wednesday, investors remained mainly focused on the timing of Fed rate cuts. Attention will, next, shift to the BoE meeting as well as the flash PMIs readings.CurrenciesEUR/USD advanced marginally and managed to retest the 1.0750 zone amidst the irresolute price action in the US Dollar. On June 20, the …

Despite US exchanges being closed on Juneteenth, WTI crude tested into new highs on Wednesday on light trade, trimming $81.00 per barrel as commodities drifted higher. As Crude Oil recovers from a recent swing low, WTI reached a new seven-week high and is expected to continue rising for a second …

Oil prices experienced a boost in Asian trading on Wednesday, fueled by expectations that major producers will maintain existing output cuts at their upcoming meeting and the anticipated rise in fuel consumption during the summer season. Brent crude futures for July delivery saw a modest increase of 18 cents (0.2%), …