Tag Archives: WTI

WTI crude oil is down 0.55% at $70 per barrel due to global economic slowdown concerns. Despite Saudi Arabia and Russia’s supply cut announcement, concerns over manufacturing activity slowdown worldwide continue to impact WTI prices. At the time of writing WTI is trading at $70.24 per barrel.China’s Caixin PMI expanded …

Oil prices fell in early Asian trading on Monday, as fears of a global economic slowdown and the possibility of the Federal Reserve raising interest rates were met with expectations of a reduction in supplies in light of the cuts announced by the OPEC + group. Brent crude futures fell …

Oil prices rose on Friday, and Brent crude is heading for its first monthly increase this year, as a significant decline in US crude oil inventories erased fears that fuel demand would be affected by any new increase in interest rates. Brent crude futures for September delivery were up 16 …

The WTI crude oil price failed to surpass the 20-day Simple Moving Average (SMA) at $70.29 and stabilized at $69.75. The price was rejected at the SMA, currently positioned at $70.36, and retreated to $69.75 due to weak housing data from the US. The US Bureau of Economic Analysis released …

Oil prices fell on Tuesday ahead of data that will shed light on Americans’ appetite for fuel during the summer driving season, with the price structure of benchmark Brent crude signaling that the bulls are retreating. And by 0916 GMT, Brent crude futures fell 41 cents, or 0.6 percent, to …

Oil prices rose on Tuesday for the second consecutive session, as worries about political instability in Russia and possible supply disruptions outweighed concerns about global demand. Brent crude futures rose six cents to $74.24 a barrel, while US West Texas Intermediate crude futures rose ten cents to $69.47 a barrel. …

Oil prices fell on Monday after Russia’s private military group Wagner revolted at the weekend, although political instability did not appear to pose an immediate threat to oil supplies from one of the world’s top producers. And by 0900 GMT, Brent crude futures fell eight cents, or 0.1 percent, to …

Recent rate increases by central banks, headed by the BoE on Thursday, fuel concerns about a decline in oil demand. Despite recent decreases in OPEC+ output and an unexpected drop in US petroleum stocks, WTI declines. In light of worries about an economic downturn, traders are turning their attention to …

Oil prices maintained most of the gains achieved on Wednesday in early trading on Thursday, while markets assessed a sudden drop in US crude stocks against the possibility of weak demand after the Federal Reserve Chairman hinted at the possibility of further interest rate hikes. And by 0015 GMT, Brent …

On Wednesday, oil prices extended losses for the third day in a row, on the back of the dollar’s rise thanks to the recovery of the US housing market, while demand concerns persisted, fearing that monetary stimulus in China will not be enough to revive growth. Brent crude futures fell …