All articles tagged with #wti crude
Originally Published 16 days ago — by Reuters
Oil prices dropped over 2% due to concerns about a global supply glut and ongoing geopolitical tensions, particularly related to the Russia-Ukraine conflict, with the market also watching potential peace negotiations that could impact sanctions and supply.
Originally Published 3 months ago — by Reuters
Oil prices rebounded by about 1% after hitting five-month lows, amid hopes that upcoming US-China talks could ease trade tensions that have recently impacted the energy market, with geopolitical developments and potential negotiations influencing market sentiment.
Originally Published 1 year ago — by Benzinga
WTI crude oil prices surged to $80 a barrel, marking the best session in over two months, driven by anticipated demand and supply constraints. Goldman Sachs revised its long-term oil demand forecast upward, predicting peak demand around 2034. Energy stocks rallied, with significant gains in the Energy Select Sector SPDR Fund. Goldman Sachs also highlighted key energy stocks to buy and sell based on free cash flow, growth assets, and refining market exposure.
Originally Published 2 years ago — by OilPrice.com
Oil prices fell by 2% after the US Federal Reserve Chair, Jerome Powell, announced that further interest rate hikes are coming in the second half of the year. The US benchmark, WTI Crude, was trading at $71.12, down by 1.92% on the day, while the international benchmark, Brent Crude, was falling by 1.84% and traded at $75.67. The Bank of England also surprised markets with a large 50-basis-point interest rate hike, the 13th consecutive increase, after inflation data from Wednesday showed the UK’s May inflation was stuck at an annual 8.7%, flat compared to April and higher than expectations.
Originally Published 2 years ago — by OilPrice.com
WTI crude futures dropped to just above $70 per barrel as renewed fears of immediate lackluster global demand pervaded the oil markets. China's weak economy spells trouble for global crude demand, while the European Union has seen two consecutive quarters of economic contraction. OPEC+’s production quota cuts are a testament to the group’s likely outlook on crude oil demand, mainly crude oil demand from China. Meanwhile, U.S. crude oil production has rallied over the last two weeks to 12.4 million bpd.