Tag Archives: WTI

The WTI fell to a five-day low of $69.82 before edging higher to $70.63 at the ti9me of writing, seeing more than 1.50% losses. PBoC rate cuts fueled energy demand concerns among Oil traders.World indexes declined following the decision signaling a negative market sentiment. On Tuesday, the West Texas Intermediate …

Oil prices fell on Tuesday after China cut its benchmark lending rates less than expected, raising further concerns about the outlook for oil demand in the world’s largest crude importer. Brent crude fell five cents to $76.04 a barrel at 0310 GMT. US West Texas Intermediate crude for July delivery …

Global oil prices fell on Monday, reversing gains made last week, as doubts about China’s economy overshadowed OPEC+ production cuts and the reduction in the number of oil and gas rigs operating in the United States for the seventh consecutive week. Brent crude fell 68 cents to trade at $75.93 …

Oil rose on Friday and posted a weekly gain, as higher Chinese demand and OPEC+ supply cuts lifted prices. Brent crude gained 94 cents to settle at $76.61 a barrel, while US West Texas Intermediate (WTI) crude rose $1.16 to $71.78. Brent posted a weekly gain of 2.4% and WTI …

Oil prices are heading to record a weekly rise on Friday, after incurring losses for two consecutive weeks, amid optimism about the rise in energy demand in China, the largest importer of crude, and the weakness of the dollar. By 0632 GMT, Brent crude futures rose 20 cents, or 0.3 …

On Thursday, oil prices rose 3% to a one-week high as the US currency weakened and new data showed an increase in refinery operations in China, the world’s largest crude importer. By 1:00 p.m. EDT (1700 GMT), Brent futures were up $2.07, or 2.8%, to $75.27 per barrel and even …

WTI crude oil is trading at $68.80 per barrel at the time of writing. It retreated by -0.82% during the US session on Wednesday, breaking key support structure on the downside as a pause in US interest rate hikes accompanied a bearish forecast for more hikes on the way. This …

The International Energy Agency (IEA) claimed in its latest oil market analysis, published on Wednesday, that “global oil demand will grow by 2.4 million bpd this year, to a record 102.3 million bpd.” The shift to a clean energy economy is picking up pace.A peak in global oil demand is …

The OPEC+ alliance said on Tuesday that it had given Russia a higher base level for oil production after it agreed to work with a number of research institutions and agencies to revise its production figures. The Organization of the Petroleum Exporting Countries (OPEC) uses base levels related to oil …

The American benchmark crude oil, WTI recovers, trading at $69.44 per barrel following the US inflation report.China’s rate cut sparks an increase in WTI price due to a potential surge in oil demand. Saudi Arabia’s proposed crude output cut is expected to tighten the global market in July. The US …