Tag Archives: WTI

Oil prices fell more than 2% in early Asian trading on Monday after Chinese officials affirmed over the weekend their commitment to a tough approach to containing the Corona virus, dashing hopes of a recovery in oil demand in the world’s largest importer of crude. Brent crude futures fell $1.58, …

Oil climbed on Friday as the dollar eased and supply risks remained, though recession fears and China’s COVID outbreaks kept a check on prices.Brent crude futures were and were able to touch the high of $96.51 a barrel at 0740 GMT, and eventually closed at $94.14. The contract is headed …

The number of total active drilling rigs in the United States fell 3 this week, according to new data from Baker Hughes published on Friday. The total rig count slipped to 768 this week—224 rigs higher than the rig count this time in 2021.Oil rigs in the United States fell …

The American dollar restores its previous weak tone, as US Treasury yields edged sharply lower following the release of the preliminary estimate of the Q3 Gross Domestic Product. Important events are streaming on the macroeconomic calendar having less impact than anticipated, despite bringing about some new developments. Wall Street got …

At the time of writing, West Texas Intermediate crude oil is up by over 0.9% trading at $88.92 having recovered from the $87.35 low reaching the $89.78 high so far.Supply concerns have been dominating the market on the back of the United States reporting better-than-expected economic growth data for Q3. …

WTI soared during the US session. The American crude is boosted by the overall US Dollar weakness as the dollar declines more than 1%, while WTI’s exports hit an all-time high due to domestic refiners operating at a higher level. At the time of writing, WTI is trading at $88.05 …

WTI crude oil rose on Tuesday on recession linked concerns. The overall scene boosted risk assets to rally. Output cut by OPEC+ next month as well as the Fed’s policy decision on November 3 are two additional factors. WTI crude oil trades at $84.69 per barrel, trading 0.17% higher between …

Oil prices are trimming their losses after bouncing up from the $82.55 level. There are concerns about the Chinese zero-COVID policy. Such concerns do hurt crude oil.The lower US oil reserves have avoided a further decline in prices. WTI futures have picked up following the negative market opening on Monday. …

WTI tends to finish Friday’s trading session with flat performance, as Wall Street ended the day with substantial gains amid hopes that Fed could be less hawkish, as mentioned by Fed officials debating to slow the pace of rate increases following November’s meeting. At the time of writing, WTI is …

The American Petroleum Institute said that crude oil inventories fell by 1.3 million barrels in the week ending on the fourteenth of October. According to the weekly report of the American Institute, gasoline stocks in the United States decreased by 2.2 million barrels last week, and distillate stocks fell by …