NYSE:BNO

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$51.20
-1.28 (-2.44%)
At Close: Jun 05, 2026
China's weak economic data drives oil prices down. Brent falls below $80, OPEC cuts demand forecast.
The crude oil market fell significantly in the early hours of Friday, as we are trying to sort out the idea of whether or not the economy is going to turn around or fall further overall.
Qatar's prime minister told Iran's leader to refrain from attacking Israel while Gaza cease-fire negotiations are ongoing in Doha, according to The Washington Post. The talks are set to resume Friday.

Wither Oil Demand? IEA And OPEC Disagree

08:01am, Friday, 16'th Aug 2024
The latest economic data suggests at a minimum that economic growth is slowing in the U.S. and a number of other major economies around the world, which has led the IEA to predict that oil demand will
Oil futures were lower Friday morning, giving up a weekly gain as worries about demand proved persistent, overshadowing fears of a retaliatory strike by Iran on Israel.
With WTI clinging to $77, traders are watching the trendline closely—could it trigger the next big rally?
Oil prices edged lower in early Asian trading on Friday, but the market's benchmarks were set for a second consecutive weekly gain after upbeat U.S. economic data eased investor worries about a potent
Crude oil's next move hinges on key support levels holding, as a rise above 79.00 could trigger a bullish signal and extend the rally.
Oil markets gained upside momentum as reports showed that U.S. economy remained in a decent shape.

Stocks Might Not Be Pricing In an Oil Spike

01:00pm, Thursday, 15'th Aug 2024
Charles Gave of Gavekal Research says the stock market is priced as if oil were at $50 a barrel. It's actually at about $78, and could go higher.
The crude oil markets have been a bit positive in the early hours of Thursday, as the markets are focusing on several different things at once. The tensions in the Middle East also seem to be offering
U.S. crude oil and Brent are still up 1.2% and 2%, respectively, this week as tensions between Iran and Israel remain high. Gaza cease-fire talks are scheduled to take place in Qatar Thursday.
Oil futures were up slightly Thursday morning, attempting to bounce after back-to-back declines as investors eyed the outlook for demand from China and monitored the threat of a direct confrontation b
Oil prices rise on U.S. rate cut hopes, but global demand concerns linger, with China's weakening economy adding pressure. Read the full oil outlook analysis.
As WTI approaches $77.25, traders are watching trendline support closely, anticipating a strong upward move that could ignite buying interest.
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