WTI price extends its losing streak on demand concern following Chinese oil import data. China’s oil imports fell to 10.8 million bpd in the first two months of the year, compared to 11.44 million bpd in December. Crude oil prices could find support from a weakening US Dollar amid growing expectations of a Fed rate […]
WTI falls to $77.00 on falling Chinese oil imports-led demand concerns Read More »
After a lacklustre start to the year, Oil prices are starting to come to life. Economists at MUFG Bank analyze Brent’s outlook. Oil bulls are quietly winning the narrative Oil bulls are quietly winning the narrative as prices are working their way higher, with a breakout of the $10 range that Brent crude has been
Brent Oil to hover within a $80.00 to $90.00 range this year– MUFG Read More »
Oil drilling rigs Oil prices rose on Friday after the release of official data in the US, China, and India showing the continued demand strength. Futures for Brent crude, scheduled for May delivery, rose by 0.52% to $83.39 at 9:21 AM Makkah time. Similarly, futures prices for US West Texas Intermediate (WTI) crude gained 0.68%
Oil prices rise on strong demand Read More »
Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info By Irina Slav – Mar 08, 2024, 2:34 AM CST Crude oil prices have been stuck between bearish and bullish news this week, booking a modest decline over the four days to
Oil Prices May Yet End the Week on a High Note Read More »
Irina Slav Irina is a writer for Oilprice.com with over a decade of experience writing on the oil and gas industry. More Info Premium Content By Irina Slav – Mar 06, 2024, 5:00 PM CST OPEC+ decided to extend their combined production cut agreement until the end of the first quarter. Not everyone within the
The Big Question in OPEC’s Production Cut Strategy Read More »
Charles Kennedy Charles is a writer for Oilprice.com More Info By Charles Kennedy – Mar 04, 2024, 2:30 PM CST Oil prices shed over 1% on Monday despite rising tensions in the Red Sea and on the front lines of the Israel-Hamas conflict, with OPEC+ extending voluntary production cuts and demand sentiment taking a beating
WTI Sheds Over 1.6% As Demand Trumps Everything Else Read More »
Marathon Petroleum’s oil refinery in Anacortes, Washington. David Ryder | Reuters Oil prices edged higher Monday after oil cartel OPEC+ agreed to extend voluntary output reductions until the second quarter, in an effort to support the short-term stability of crude markets. Global benchmark Brent gained 0.38% to $83.87 a barrel Monday, while U.S. West Texas Intermediate futures added
Oil prices edge higher after OPEC+ extends voluntary oil output cuts until mid-year Read More »
RIYADH: Saudi Arabia is gearing up for LEAP 2024, the world’s most-attended tech event, from March 4 to 7 at the Riyadh Exhibition and Convention Center in Malham. The pre-event gathering on Feb 28 announced this year’s theme as “Into New Worlds,” which encompasses new opportunities, technologies, and capabilities in the tech sector. The event
Crude-oil futures rose Friday, settling higher for the week, after a strike by Israeli forces a day earlier was said to have killed more than 100 Palestinians waiting for aid in Gaza, raising tensions in the oil-rich Middle East. Traders also waited to hear any news on whether major oil producers will extend voluntary production
Oil prices settle 2% higher, lifted by rising Middle East tensions Read More »
Oil drilling rigs Crude oil prices rose on Friday as investors awaited the OPEC+ decision non supply reduction policies. Reports suggest that the alliance intends to extend voluntary cuts for the second quarter of the year. Additionally, economic activity indicators in China showed mixed signals, reflecting uncertainty about the future demand for oil. Futures for
Oil rises on Friday, WTI heads for weekly gain Read More »
