The oil surge over 3% on Thursday, propelled by a weakening dollar and a modestly improved global demand outlook for 2024. Building on the momentum from the previous session, West Texas Intermediate for January climbed $2.50 (3.60%) to reach $71.96 […]
Oil Surge 3% on Weaker Dollar. Read More ยป
Oil prices ticked higher by approximately 1% on Wednesday, rebounding from a five-month low in the previous session, driven by a notably larger-than-expected withdrawal from U.S. crude storage. Brent Futures Gain 78 Cents Amid US Storage Withdrawal. US Storage Withdrawal
US Storage Withdrawal Sparks 1% Surge in Oil Prices Read More ยป
According to sources within OPEC+ and ship-tracking consultancies cited by Reuters on Thursday, Russia has assured oil-flow tracking firms and price reporting agencies that it will furnish detailed information on its production, inventories, and fuel output. This move comes after
Russia Oil Data Transparency Commitment. Read More ยป
The impact of the most recent round of production curbs proposed by OPEC+ members continued to be partially negated as oil prices traded slightly lower early on Tuesday. On the New York Mercantile Exchange, the price of West Texas Intermediate
Oil prices drop on recession concerns after OPEC+ cuts boost. Read More ยป
ADVANCES MOVERS After Saudi Arabia and its OPEC+ allies unexpectedly announced a round of production cuts last weekend, oil futures remained close to unchanged early Thursday, staying on pace to conclude a holiday-shortened week with strong gains. Most American markets
Oil set for 3rd weekly gain after OPEC+ cuts. Read More ยป
Morgan Stanley has revised its oil price forecast for this year and next, considering the recent OPEC+ decision to cut production. Martijn Rats, chief commodity strategist at the bank, views the move as an indication that demand may not be
Morgan Stanley Cuts Oil Price Forecast After OPEC+ Move. Read More ยป
According to analysts and traders, unexpected new cuts to the OPEC+ group’s output targets could drive oil prices towards $100 per barrel and set the stage for yet another conflict with the West struggling with rising interest rates. The choice
OPEC+ cuts revive $100/barrel oil potential. Read More ยป
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