Worries about Global Economy and Oversupply are Weighing on Oil Prices — FT
As oil market sentiment further deteriorates, global banks start to cut forecasts.
January 18, 2024
1323
Commodities
A few days ago, oil prices exceeded $90 per barrel.
April 9, 2024
1104
1323
Oil Demand is Set to Rise, so Oil Price is Set to Rise in the Near Term as Well
The Brent crude oil futures with delivery in November on the London exchange ICE rose above $93 per barrel for the first time since November 16, 2022.
September 14, 2023
1475
Diminishing Oil and Oil Refinery Products’ Inventories Point to Imminent Price Adjustment
Oil futures, dragged by a rising dollar and returning recession fears, extended a pullback that’s taken the U.S. benchmark back below the $80-a-barrel threshold, eliminating recent OPEC+ decision-backed gains when the cartel announced surprise production cuts earlier this month.
April 20, 2023
1833
German Utilities Costs Soar to Record Levels as Energy Crisis Deepens
European electricity prices jumped to new highs as natural gas continued to rise, exacerbating an energy crisis that threatens to plunge the region into recession.
August 15, 2022
1847
Geopolitics, U.S. Driving Season and China Reopening Altogether Create Perfect Storm for Worldwide Oil Prices
The prices of oil futures continued rising on Tuesday, May 31, after the EU finally made a decision to ban 90% of Russian oil imports by year-end, which apparently sent investors into a frenzy, raising concerns over supply.
May 31, 2022
2107
Oil Tumbled as U.S. and Allies Ready to Sell a Record Amount from Strategic Reserve
Oil prices tumbled on Thursday on the news that the Biden Administration is considering releasing up to 180 million barrels from its petroleum reserve (SPR), close to a one-time maximum in nearly 50 years of SPR history in response to the oil and gas supply crisis caused by the geopolitical events in the Eastern Europe.
April 1, 2022
2412
Chinese Demand – not Situation in Middle East – Acts as Main Factor Balancing Supply-Demand of Crude
Crude oil futures retested its highs not seen since October 2014 after Saudi Arabia retaliated for yesterday's deadly attack on United Arab Emirates' petroleum facilities and an airport that Houthi forces in Yemen claimed responsibility for.
January 18, 2022
2306
High Oil Prices Tend to Get Stickier than Many Think
Several prominent oil traders have written in their recent notes that “$100 crude is fast approaching as demand outstrips supply and a climate-inspired slowdown in investment in new sources threatens to allow reserves to wither”.
November 3, 2021
2515
Why Oil Hasn’t Exploded on Hurricane Ida-Induced Closures of Key Oil Productions
U.S. oil companies are still assessing the damage at the oil rigs caused by Hurricane Ida, where platforms and refineries were struck hard creating numerous damages.
September 1, 2021
2688
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