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Crude Futures

All articles tagged with #crude futures

energy-markets1 year ago

"U.S. Crude Retreats from Three-Month High as Oil Market Tightens"

U.S. crude oil futures retreated more than 1% after reaching a three-month high last week, with the West Texas Intermediate contract for March dropping to $78.18 a barrel and the Brent contract for April falling to $82.40 a barrel. The pullback was attributed to profit-taking by traders and pressure on heating oil and gasoil contracts from declining natural gas prices. The market had previously rallied due to the conflict in the Middle East and ongoing threats to commercial vessels in the Red Sea, despite concerns about inflation and a bearish demand forecast.

via CNBC|
#crude-futures#energy-markets#global-energy-demand
energy2 years ago

"Supply Cuts Drive Oil Prices Up 25% Since Late June"

Oil prices have surged by over 25% since late June as supply cuts by key OPEC+ players, including Saudi Arabia and Russia, continue to squeeze the market. Brent International topped $90 per barrel for the first time since November, while West Texas Intermediate crude hovered above $87 per barrel. Despite a slower-than-expected recovery in China's economy and increased production output by US producers, experts predict that crude oil prices will either remain stable or continue to rise due to ongoing supply cut initiatives and Saudi Arabia's need to fund internal projects. The market will closely monitor the demand outlook, particularly in China, which has significant inventories and storage capacity.

via Yahoo Finance|
#crude-futures#energy#market-pressure
finance2 years ago

Oil Prices and OPEC-US Battle: What's Next?

Despite Saudi Arabia's announcement of a production cut, oil prices fell on Tuesday, indicating that demand outlook is still a major concern. Ben Laidler, eToro global markets strategist, believes that talk of $100 oil is unrealistic, and that the best outcome would be to stabilize the price or manage the decline. Tom Essaye, Sevens Report Research founder, added that Russia is pumping as much oil as possible to fund their war. The voluntary cut by Saudi Arabia is not expected to materially change the price of oil, and oil-related stocks have also declined.

via Yahoo Finance|
#crude-futures#demand-outlook#finance