August 9, 2023 12:34 pm
Futures on US West Texas Intermediate Crude Oil surged to fresh highs on Wednesday, as supply cuts from top oil producers countered China demand concerns and recent US oil stock build. Yesterday Saudi Arabia’s cabinet reaffirmed its support for precautionary measures by OPEC+ members to stabilize the market. Last week, Saudi Arabia extended its voluntary […]
Read moreAugust 7, 2023 12:12 pm
Futures on US West Texas Intermediate Crude Oil retreated on Monday following a sustained rally, as Saudi Arabia and Russia announced supply cuts extension through September. WTI Futures have already registered six consecutive weeks of gains, mostly due to supply tightening. Last week, top producer Saudi Arabia extended its voluntary oil production cut of 1 […]
Read moreAugust 3, 2023 12:05 pm
Key points WTI Crude Futures pull back from April highs US crude stockpiles drop the most on record last week – EIA US credit rating downgrade weighs on risk sentiment Futures on US West Texas Intermediate Crude Oil extended a pullback from over three-month peak on Thursday, after a US government credit downgrade cooled investor […]
Read moreAugust 2, 2023 12:15 pm
Key points WTI Crude Futures surge 0.7%, hold near April highs US crude stockpiles drop the most since 2012 last week – API Futures on US West Texas Intermediate Crude Oil surged on Wednesday, while trading near levels last seen in April, after a sharp drop in US crude oil stocks indicated robust fuel demand. […]
Read moreAugust 1, 2023 12:21 pm
Futures on US West Texas Intermediate Crude Oil eased on Tuesday due to possible profit-taking, following a strong performance in July mostly driven by supply tightening. WTI Crude Futures settled at $81.80 per barrel on Monday, the commodity’s highest since April 14th. Futures gained as much as 15.8% last month, or the most since January […]
Read moreJuly 28, 2023 12:46 pm
Futures on US West Texas Intermediate Crude Oil looked set to register their fifth consecutive week of advance, as investors remained optimistic about both demand and supply prospects. WTI Crude Oil Futures have surged almost 13% so far this month, mostly underpinned by output cuts announced by top producers Saudi Arabia and Russia. Meanwhile, expectations […]
Read moreJuly 26, 2023 12:25 pm
Key points WTI Crude Futures slip from recent three-month high FOMC decision eyed with focus on future rate outlook US crude stockpiles surge last week – API Futures on US West Texas Intermediate Crude Oil came off recent three-month high, retreating almost 1% on Wednesday, amid caution ahead of the Federal Reserve’s policy decision later […]
Read moreJuly 24, 2023 12:48 pm
Key points China stimulus prospects reinforce oil demand prospects Central bank decisions eyed with focus on rate outlook WTI Crude Oil futures extend a gain from the prior week Futures on US West Texas Intermediate Crude Oil extended last week’s gains on Monday, reflecting tightening conditions as OPEC+ output cuts impact the market. Prospects of […]
Read moreJuly 21, 2023 10:21 am
Key points Spot Silver extends losses, pulling back from 10-week high US Dollar and Treasury yields surge after jobless claims data bolster hawkish Fed bets Silver looks at 0.8% weekly loss Spot Silver extended losses on Friday and was on course for its first weekly decline in four weeks, as the US Dollar strengthened and […]
Read moreJuly 19, 2023 12:55 pm
Key points China growth support pledge reinforces oil demand prospects Macro data add to expectations Fed may be nearing end of tightening cycle US crude oil stocks decrease last week – API Futures on US West Texas Intermediate Crude Oil gained for a second straight day on Wednesday, supported by expectations that the Fed is […]
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