August 22, 2024
“…The U.S. benchmark is now up just 0.91% for the year, while global benchmark Brent crude has erased all of its gains for 2024. Oil prices settled more than 1% lower on Wednesday after U.S. job growth was revised significantly lower,… Continue Reading…
May 1, 2024
“U.S. crude oil moved nearly 2% higher Tuesday to top $83 a barrel on optimism that weak manufacturing data could accelerate interest rate cuts. U.S. manufacturing activity hit a four month low of 49.9 in April, according to the S&P Global… Continue Reading…
November 22, 2023
“U.S. crude prices fell more than 4% Wednesday after the Organization of Petroleum Exporting Countries delayed a pivotal meeting on production cuts that was scheduled for the weekend. The West Texas Intermediate contract for January dropped $3.27, or 4.2%, to $74.50 a barrel, while… Continue Reading…
October 31, 2023
“In a research report published on Friday, JPMorgan analyst Christyan Malek upgraded the entire global energy sector to an overweight rating, warning that the recent surge in oil prices could potentially drive Brent crude prices as high as $150 a… Continue Reading…
October 6, 2022
“OPEC+ will cut oil production by 2 million barrels per day amid looming demand concerns and the ongoing friction between the West and Russia over the war in Ukraine… “It is OPEC that is going to be controlling the price.… Continue Reading…
March 8, 2022
“Russia has threatened to close a major gas pipeline to Germany and warned of $300 oil prices if the West goes ahead with a ban on its energy exports. “It is absolutely clear that a rejection of Russian oil would… Continue Reading…
March 7, 2022
“Traders piled into options that oil could surge even further after rising to the highest since 2008, with some even placing low-cost bets that futures surpass $200 before the end of March… Prices to buy call options at higher prices… Continue Reading…
February 22, 2022
“European natural gas led the gains with as much as 13% rise, helped higher by Germany halting the approval process of the controversial Nord Stream 2 pipeline. Brent oil closed in on $100 a barrel, and power and coal prices… Continue Reading…
December 1, 2021
“Oil futures can shake off a breathtaking Black Friday plunge and then some, testing $125 a barrel next year and overshooting to $150 in 2023 with OPEC+ “firmly in the driver’s seat,” according to analysts at J.P. Morgan. OPEC+ —… Continue Reading…
October 8, 2021
“West Texas Intermediate crude futures, the U.S. oil benchmark, crossed $80 per barrel on Friday for the first time since November 2014 as demand rebounds while supply remains tight. The U.S. oil benchmark jumped more than 2% to trade as… Continue Reading…
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