Oil Prices Retreat As Biden Plans Major Federal Tax Hike
Despite optimism from Chinese data overnight, forecasts for lower OPEC+ output, and a weaker dollar, oil prices are tumbling this morning with WTI back below $64.50...
Oil Prices Slip As U.S. Rig Count Falls
Baker Hughes reported on Friday that the number of oil and gas rigs in the United States fell by 1 this week. The total number of active oil and gas rigs in the U.S. is now at 402—or 390 fewer than this time last year.
Oil Prices Drop As Traders Take Profits
Speculators have been selling oil over the past two weeks as prices continue higher and the appetite for profit-taking increases.
Energy Transition Could Cut Oil Prices By $10 Per Barrel
The back-to-back downturns that exploration and production companies (E&Ps) have faced during the past decade have accelerated the energy transition.
Oil Falls With OPEC+ Meeting Hovering Over Tightening Market
Oil plunged as the dollar pared losses ahead of a key OPEC+ meeting scheduled this week that may return more supply back to a fast-tightening market.
Is This Oil Rally The Start Of Something Much Bigger?
Commodities have rallied in recent months, outperforming equity indexes amid expectations of an economic recovery, easy monetary policy, and rising inflation.
Oil rises on fears of heightened tensions in Middle East
Brent crude was up 66 cents, or 1.1%, at $63.09 a barrel at 0004 GMT, after climbing to a session high of $63.44, the highest since Jan. 22, 2020. U.S. West Texas Intermediate (WTI) crude futures gained 86 cents, or 1.5%, to $60.33 a barrel.
Brent Oil: A rally to $70 is technically possible
This week, Brent Oil prices broke through the technical resistance level of $60/barrel within the upward trend channel. As a result, the multiyear downward trend was broken
Brent approaches $60 per barrel as supply cuts, stimulus hopes lift prices
Brent crude for April touched a high of $59.95 a barrel and was at $59.85 by 0041 GMT, up 51 cents, or 0.9%. Front-month prices last hit $60 on Feb. 20, 2020.
Tighter Oil Markets Send Oil Prices Higher
Oil prices rose early on Monday, supported by a risk-on sentiment on the equity markets and expectations that the oil production curbs by OPEC+