July 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 moreMay 23, 2022 9:18 am
Futures on US West Texas Intermediate Crude Oil rose for a third straight trading day on Monday, supported by US fuel demand, tight supply and a softer US Dollar, while Shanghai is due to reopen on June 1st after a two-month lockdown that had raised concerns over a sharp growth slowdown. “Oil prices are supported […]
Read moreMay 12, 2022 8:55 am
Futures on US West Texas Intermediate Crude Oil retreated more than 2% on Thursday in what has so far been a volatile week, as recession concerns pressured global markets, overshadowing supply hurdles and geopolitical tensions. Oil, along with other market segments, has been under pressure this week due to a complex of factors, including monetary […]
Read moreMay 5, 2022 7:37 am
Futures on US West Texas Intermediate Crude Oil extended gains in a volatile trading session on Thursday as a new sanctions proposal by the European Union against Russia overshadowed China demand worries. The proposal, announced by European Commission President Ursula von der Leyen, includes phasing out Russian crude oil supplies in 6 months and refined […]
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