Oil Price

Oil prices remained range-bound in early Asian trading on Tuesday as investors awaited direction from the U.S. Federal Reserve’s upcoming interest rate decision and expressed concerns about demand from China. 

Crude Oil Futures Face Sharp Declines Crude oil futures took a sharp hit last week, with both Brent and West Texas Intermediate (WTI) crude dropping over 7%, marking their largest weekly declines in more than a month. This selloff was driven by weaker demand forecasts from China and reduced fears of supply disruptions in the […]

The latest data from the Energy Information Administration (EIA) shows a bigger-than-expected drop in US crude oil inventories, signaling stronger demand for oil.  Impact on Oil Prices and Inflation US companies reported a 4.471-million-barrels decline in crude oil stock, much higher than the forecasted 1.300 million barrels. This drop also surpasses last week’s decrease of […]

Asian stocks and global stock futures tumbled on Wednesday, led by significant losses in technology shares, as renewed concerns over global growth drove investors away from riskier assets. Oil prices also hit multi-month lows, reflecting sluggish demand from the world’s top consumers, China and the United States. 

Oil prices continued to fall on Monday as investors weighed the potential for increased OPEC+ production in October against a sharp drop in Libyan output and ongoing weak demand from China and the United States, the world’s top two oil consumers. 

Oil prices increased in early trading on Monday as investors awaited signs that the Federal Reserve might start reducing interest rates as early as September. By early GMT, Brent crude had risen by 48 cents to USD 83.10 a barrel, while U.S. West Texas Intermediate crude gained 42 cents, reaching USD 80.55. 

Oil prices remained largely unchanged in early Asian trading on Monday as the market anticipated the upcoming OPEC+ meeting on June 2. Producers are expected to discuss maintaining voluntary output cuts for the rest of the year. 

Today’s News Oil prices surged today as Chinese economic data showed improvement, while tensions between Israel and Hamas escalated, driving concerns about supply disruptions.  Oil prices climbed on Friday, continuing their upward trend on signs of a strengthening Chinese economy and escalating tensions between Israel and Hamas. Brent futures rose by 37 cents to USD […]

The recent Israel-Iran conflict might have you picturing oil prices soaring through the roof. But before you panic-buy, read this article!

Today’s News  On Tuesday, the World Bank warned that the world economy could experience a “wasted” decade and its weakest growth in 30 years. It foresees a year marked by sluggish growth, pointed to a slow recovery from the pandemic and ongoing wars in Ukraine and the Middle East as major factors expected to heavily impact […]