June 16, 2022 8:11 am
Futures on US West Texas Intermediate Crude Oil rebounded on Thursday after a sharp decline in the prior trading day, while drawing support from tight supply and peak summer fuel demand. Yesterday WTI Crude retreated over 3% after the Federal Reserve hiked interest rates by 0.75% to rein in surging inflation, or the biggest single-meeting […]
Read moreJune 9, 2022 8:49 am
Futures on US West Texas Intermediate Crude Oil eased from a three-month peak on Thursday, as new COVID-19 lockdown measures imposed in parts of Shanghai overshadowed better-than-anticipated export data from China. Chinese exports surged 16.9% year-on-year in May, or at the fastest rate since January and well above market consensus, as relaxation of coronavirus-related restrictions […]
Read moreJune 2, 2022 8:32 am
Futures on US West Texas Intermediate Crude Oil retreated more than 2% on Thursday, as investors took profits following a recent rally, while speculation emerged that Saudi Arabia might step up oil production in response to calls from the United States. “Investors unwound long positions to wait and see whether Saudi Arabia would raise production […]
Read moreMay 23, 2022 9:18 am
Futures on US West Texas Intermediate Crude Oil rose for a third straight trading day on Monday, supported by US fuel demand, tight supply and a softer US Dollar, while Shanghai is due to reopen on June 1st after a two-month lockdown that had raised concerns over a sharp growth slowdown. “Oil prices are supported […]
Read moreMay 12, 2022 8:55 am
Futures on US West Texas Intermediate Crude Oil retreated more than 2% on Thursday in what has so far been a volatile week, as recession concerns pressured global markets, overshadowing supply hurdles and geopolitical tensions. Oil, along with other market segments, has been under pressure this week due to a complex of factors, including monetary […]
Read moreMay 5, 2022 7:37 am
Futures on US West Texas Intermediate Crude Oil extended gains in a volatile trading session on Thursday as a new sanctions proposal by the European Union against Russia overshadowed China demand worries. The proposal, announced by European Commission President Ursula von der Leyen, includes phasing out Russian crude oil supplies in 6 months and refined […]
Read moreApril 29, 2022 9:00 am
Spot Gold rebounded from a 10-week low on Friday as the US Dollar eased from a fresh over 19-year peak. Yet, the precious metal was on track for its first monthly drop since January, as investors bet on aggressive interest rate hikes by the Federal Reserve. On the other hand, some analysts believe that the […]
Read moreApril 21, 2022 7:58 am
Futures on US West Texas Intermediate Crude Oil rose more than 1% in volatile trade on Thursday, with the market affected by supply concerns stemming from potential European Union ban on Russian oil and after an announcement by Libya of decreased oil output. “EU discussions to ban or phase out Russian oil purchases, the biggest […]
Read moreApril 8, 2022 9:13 am
Futures on US West Texas Intermediate Crude Oil were set for a second straight week of losses, as the planned release of 240 million barrels from consuming nations’ emergency oil stocks outweighed supply concerns stemming from western sanctions on Russia. According to analysts, the emergency oil release of nearly 1 million barrels per day from […]
Read moreMarch 31, 2022 7:48 am
Futures on US West Texas Intermediate Crude Oil retreated more than 4% on Thursday, as the United States is weighing the release of up to 180 million barrels from its strategic petroleum reserve over a few months to curb skyrocketing oil prices. According to a report by Reuters, US President Joe Biden is expected to […]
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