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oil

WTI Crude Rises Above $79 with Rate Cut Hopes
May 17 2024

WTI Crude Rises Above $79 with Rate Cut Hopes

On Friday, WTI crude futures strengthened beyond $79 per barrel, poised to conclude the week with upward momentum.

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US Crude Stockpiles Drop Bolsters WTI Crude Prices
May 16 2024

US Crude Stockpiles Drop Bolsters WTI Crude Prices

WTI crude futures climbed above $79 per barrel on Thursday, continuing their upward trajectory from the previous session, fueled by a more substantial than anticipated decrease in weekly US crude inventories, which supported oil prices.

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Oil Prices Volatile Despite Inventory Draw
May 15 2024

Oil Prices Volatile Despite Inventory Draw

US crude oil prices failed to maintain their early gains in Europe on Wednesday, but the recent range in the market remained intact.

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Oil Market Dynamics: The Influence of OPEC, API, and US PPI Data
May 15 2024

Oil Market Dynamics: The Influence of OPEC, API, and US PPI Data

The oil market was influenced by several key developments, including the release of the OPEC Monthly Report, the American Petroleum Institute's (API) Crude Oil Stock Change, and the Producer Price Index (PPI) data from the US.

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Oil Prices Stagnate Amid OPEC Concerns and Supply Disruptions
May 14 2024

Oil Prices Stagnate Amid OPEC Concerns and Supply Disruptions

On Tuesday, oil prices remained relatively unchanged or slightly lower, with WTI crude futures trading under $79 per barrel, largely due to concerns stemming from the latest OPEC monthly report.

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WTI Crude Futures Surge, Eyes on OPEC Report
May 13 2024

WTI Crude Futures Surge, Eyes on OPEC Report

On Monday, WTI crude futures surpassed the $78.5 per barrel mark as oil traders eagerly awaited insights from OPEC regarding global balances.

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WTI Crude Approaches $80 Amid Global Demand Optimism and Middle East Tensions
May 10 2024

WTI Crude Approaches $80 Amid Global Demand Optimism and Middle East Tensions

On Friday, WTI crude futures approached $80 per barrel, marking a third consecutive session of gains and poised for a robust weekly rise due to an optimistic global demand outlook and ongoing tensions in the Middle East.

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WTI Crude Surges Above $79 Amid US Inventory Decline and Fed Rate Cut Speculation
May 09 2024

WTI Crude Surges Above $79 Amid US Inventory Decline and Fed Rate Cut Speculation

WTI crude futures surged above $79 per barrel on Thursday, building on gains from the prior session following official data revealing a decrease in US crude stockpiles, indicating a tighter supply.

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Oil Prices Slip on Strategic Reserve Bid and OPEC+ Talks
May 08 2024

Oil Prices Slip on Strategic Reserve Bid and OPEC+ Talks

The US Energy Department's announcement of a bid to purchase 3.3 million barrels to refill the strategic petroleum reserve initially lifted oil prices in the session, but they eventually ended lower.

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