The US is the world’s biggest oil producer — so why do we still need to import crude and ask countries like Saudi Arabia for help? Oil prices are high, energy worries are roiling the global economy, a...
Tag: crude
OPEC+ delivers “slap to the face” with a minuscule 82-second lifeline; US crude inventories rise unexpectedly
During the much-awaited OPEC+ meeting, member countries led by Saudi Arabia and Russia agreed to increase their collective output target by 100,00 bpd (barrels per day) come September. This is a drop ...
The US is the world’s biggest oil producer — so why do we still need to import crude and ask other countries like Saudi Arabia for help?
The US is the world’s biggest oil producer — so why do we still need to import crude and ask other countries like Saudi Arabia for help? Oil prices are high, energy worries are roiling the global econ...
Oil-Pipeline Outage Compounds Biden’s Post-Saudi Crude Dilemma
(Bloomberg) — Shipments of Canadian oil to US refiners were thrown into disarray by a pipeline disruption just days after President Joe Biden’s unsuccessful bid to coax more crude out of Saudi A...
Crude oil prices remain sub $100 as recession fears slow down markets
On July 14, Crude Oil WTI settled below $96 per barrel, while Crude Oil futures hit $91 per barrel hitting the lowest level since February. Escalating fears of low demand and economic slowdown contin...
Why crude released from U.S. oil reserves may have ended up being exported overseas
U.S. drivers had high hopes that the historic release of oil from the nation’s Strategic Petroleum Reserve would help ease triple-digit prices of crude oil and reduce gasoline prices at the pump, but ...
Russia Targets Europe With a Commodity Weapon: Kazakh Crude
(Bloomberg) — Russian President Vladimir Putin has found another weapon to use against European countries supporting Ukraine — Kazakhstan’s crude — and it will cost him almost nothin...
Crude Oil Price Update – Supply Worries Driven by Political Unrest in Libya, Labor Problems in Norway
U.S. West Texas Intermediate crude oil futures jumped more than 2% on Friday. The new month and quarter began on an up note as political tensions in Libya and labor issues in Norway raised concerns ab...
Russia’s Crude Oil Shipments to Crucial Asian Markets Falter
(Bloomberg) — Russia’s seaborne crude exports in the seven days to July 1 rebounded from the previous week’s plunge, but shipments to Asia are slipping, even as flows are diverted to the country...
ExxonMobil Is Holding Gains As Crude Oil Rallies. Here’s How To Trade The Stock.
(Photo by Kena Betancur/VIEWpress) Corbis via Getty Images ExxonMobil (XOM) broke out above its 50-day simple moving average as 2022 began. This happened after the stock was below its 200-day simple m...
Is it safe to buy WTI crude oil after bouncing from horizontal support?
A lot has happened in the energy markets in 2022, especially in the oil markets. WTI crude oil price surged to $130 in the second quarter of the year, after only in 2020 it had traded in negative terr...
Crude Oil’s Inflation Trade Is Unwinding, Credit Suisse Says
(Bloomberg) — This year’s standout inflation trade of backing commodities is coming under pressure on concern a recession will curb demand for raw materials. Most Read from Bloomberg That’s the ...
Oil and gas stocks suffer broad, sharp selloff as crude futures drop
The S&P 500’s energy sector was suffering a unanimous selloff, as crude oil CL00, -6.61% and natural gas futures NG00, -1.32% slumped amid growing demand concerns and as the Biden administra...
Crude oil price: there are no changes to the fundamentals – Amrita Sen
Crude oil price has erased the gains made earlier in the week to trade at a one-week low. As at the time of writing, Brent futures were at $110.00 after bouncing off its intraday low of $108.80. At th...
Crude Oil Resistance at $110
Although the broad markets have been sluggish, with the NASDAQ and S&P 500 both in bear markets, oil equities have performed well. Energy firms are among the top 15 gainers in the S&P 500 this...
Has Crude Oil Made an Interim High?
Everyone is watching the price of crude oil. Everyone is sensitive to the latest price at the pump. Housewives, truckers, CEOs and even me. Everyone. This issue is a global phenomenon and if crude oil...
Gas Price Relief In Sight As Crude Oil Tumbles on Recession Fears
Updated at 1:32 pm EST U.S. drivers may get some near-term relief on gas prices heading into the Juneteenth holiday weekend as crude prices plunged to a three-week low in mid-day Friday trading amid o...
Oil prices could go ‘parabolic,’ putting global economy in ‘critical situation,’ says Trafigura chief
“‘We have got a critical situation. I really think we have a problem for the next six months. … [O]nce it gets to these parabolic states, markets can move and they can spike quite a lot.’” — Jeremy We...
Oil Eases Off of Three-Month High as Russian Crude Heads to Asia
(Bloomberg) — Oil slipped as rising volumes of Russian crude headed to Asia countered bullish sentiment spurred by Saudi Arabia’s bigger-than expected price increase for deliveries to the Far Ea...
Oil Stocks: Crude Jumps Back Above $120 As Drilling Activity Flattens
A so-far lousy year for the stock market has been a godsend for oil stocks. Spiking natural gas and oil prices have replenished energy industry balance sheets thinned by the pandemic demand crash. And...
Oil stocks enjoy broad rally as crude prices jump, with Exxon Mobil at an 8-year high and Chevron at a record
The energy sector is on track to enjoy a unanimous rally Tuesday, as the European Union’s ban on Russian oil has sent crude oil futures surging. The SPDR Energy Select Sector ETF XLE, +1.00% ral...
Crude Oil Price Forecast – Crude Oil Markets Continue to Power Higher
WTI Crude Oil Technical Analysis The West Texas Intermediate Crude Oil market has rallied again during holiday trading on Monday, as we have seen further buying. That being said, liquidity was very th...
Brent Crude Tops $120 as Shanghai Eases Curbs, EU Leaders Meet
(Bloomberg) — Oil climbed as China eased anti-virus lockdowns and the EU worked on a plan to ban imports of Russian crude. Most Read from Bloomberg Brent crude topped $120 a barrel, before parin...
World’s Oil-Growth Engine Is About to Slow Despite $100 Crude
(Bloomberg) — In a world crying out for more oil, a dusty stretch of West Texas and southeastern New Mexico is one of the only places that can deliver. But even with crude above $100 a barrel, p...
Three Factors That Will Favor Bitcoin Vs Crude Oil This Decade: Bloomberg’s Chief Expert
Yuri Molchan Bloomberg’s Mike McGlone bets on Bitcoin price versus crude oil this decade Chief commodity strategist of Bloomberg, Mike McGlone, has taken to Twitter to share his view on the trajectory...
Oil Prices Under Pressure As China Considers Russian Crude
China added some downward pressure to oil prices this week when it clearly signaled its intent to buy more discounted Russian oil. Between China and India, Russia is racing to pivot towards Asia as th...
Crude oil price outlook as the US driving season nears
Crude oil price has bounced off Tuesday’s lows following an improved demand outlook. Brent futures are back above $113.00 per barrel to $113. 55 as at 08:12 a.m GMT. At the same time, WTI futures are ...
Brent Crude Oil Price Update – Late Session Surge Puts Market in Position to Challenge $113.99 – $115.29
International-benchmark Brent crude oil futures are trading sharply higher late Friday on the back of record gasoline prices, Additionally, China looked ready to ease pandemic restrictions that could ...
Brent crude hits two-month high as China lifts COVID restrictions. Analyst predicts $124/barrel is next.
Brent crude surged to levels not seen in two months on Monday, as easing COVID restrictions in China’s biggest cities drove fresh hopes for demand. U.S. markets will be closed on Monday in observance ...