Commodities

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

2317

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

2605

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

2878

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

2992

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

3151

OPEC+ oil and energy ministers eventually fully backed the plan to increase oil production by 2 million bpd by the end of this year, and also extended the agreement beyond April 2022, when it expires.

July 19, 2021

3148

With ongoing inflation data being more and more intimidating, which increasingly finds its reflection in the current market instability, there are basically three scenarios - monetary austerity, return of industrial commodities growth cycle and resumption of the crypto buying spree.

June 10, 2021

3257