August 4, 2022 7:42 am
Futures on US West Texas Intermediate Crude Oil hovered just above a fresh 23-week low on Thursday following an unexpected increase in US crude oil and gasoline stocks last week. The official report by the US Energy Information Administration (EIA) showed on Wednesday crude oil inventories had increased by 4.467 million barrels during the week […]
Read moreJuly 28, 2022 8:44 am
Futures on US West Texas Intermediate Crude Oil extended gains from the prior trading day on Thursday amid improved investor risk sentiment and following a large drop in US crude oil stocks last week. “Risk sentiment has recovered from recession fears due to the ongoing U.S. earnings optimism and less aggressive Fed rhetoric on rate […]
Read moreJuly 21, 2022 8:02 am
Futures on US West Texas Intermediate Crude Oil extended losses on Thursday as demand-related concerns overshadowed tight supply, with government data showing US gasoline stocks rising during the peak of the peak driving season. The official report by the US Energy Information Administration (EIA) showed on Wednesday gasoline inventories had increased by 3.498 million barrels […]
Read moreJuly 14, 2022 7:48 am
Futures on US West Texas Intermediate Crude Oil resumed their slide on Thursday, while hovering above a three-month trough, as markets were concerned a sizable Fed rate hike aimed to curb accelerating inflation would also hamper oil demand. The latest macro data showed US annual CPI inflation had reached a 40 1/2-year peak at 9.1% […]
Read moreJuly 7, 2022 8:41 am
Futures on US West Texas Intermediate Crude Oil regained some ground on Thursday after a sharp decline in the prior two trading days, as market players again turned their attention to tight supply despite global recession risks. Commodities and other risk-sensitive assets have been under pressure in recent weeks, as rising interest rates across the […]
Read moreJune 30, 2022 8:39 am
Futures on US West Texas Intermediate Crude Oil traded a notch higher in a volatile session on Thursday, as market players weighed US fuel inventory build and global supply disruptions. The official report by the US Energy Information Administration (EIA) showed on Wednesday crude oil inventories had decreased by 2.762 million barrels during the week […]
Read moreJune 23, 2022 8:42 am
Futures on US West Texas Intermediate Crude Oil extended losses from the prior trading day on Thursday, as market players reassessed recession risk and fuel demand amid rising interest rates in developed economies. “Oil markets remained under pressure as investors were concerned that U.S. rate hikes would stall an economic recovery and dampen fuel demand,” […]
Read moreJune 16, 2022 8:11 am
Futures on US West Texas Intermediate Crude Oil rebounded on Thursday after a sharp decline in the prior trading day, while drawing support from tight supply and peak summer fuel demand. Yesterday WTI Crude retreated over 3% after the Federal Reserve hiked interest rates by 0.75% to rein in surging inflation, or the biggest single-meeting […]
Read moreJune 9, 2022 8:49 am
Futures on US West Texas Intermediate Crude Oil eased from a three-month peak on Thursday, as new COVID-19 lockdown measures imposed in parts of Shanghai overshadowed better-than-anticipated export data from China. Chinese exports surged 16.9% year-on-year in May, or at the fastest rate since January and well above market consensus, as relaxation of coronavirus-related restrictions […]
Read moreJune 2, 2022 8:32 am
Futures on US West Texas Intermediate Crude Oil retreated more than 2% on Thursday, as investors took profits following a recent rally, while speculation emerged that Saudi Arabia might step up oil production in response to calls from the United States. “Investors unwound long positions to wait and see whether Saudi Arabia would raise production […]
Read more