NYSE:BNO

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$51.20
-1.28 (-2.44%)
At Close: Jun 05, 2026
WTI crude oil's lowest close since February 26 indicates weakening, with potential bearish continuation on a drop below 76.83.
Oil traders worry that hawkish Fed may hurt oil demand growth.
The crude oil markets bounced a bit in the early hours of Thursday, as the market continues to try to sort out whether or not we can break out of the consolidation.
Russia, in a rare admission of oil overproduction, said overnight that it exceeded its OPEC+ production quota in April for "technical reasons", a surprise move that analysts and industry sources say s
U.S. crude oil is down 2.4% for the week while Brent, the global benchmark, is down 1.8%.

Oil prices attempt to snap 3-day losing streak

07:36am, Thursday, 23'rd May 2024
Oil futures rose Thursday morning, attempting to snap a three-day losing streak as investors weigh the outlook for Federal Reserve policy and crude demand.
Given the Fed's indication of potential rate hikes and the unexpected rise in crude inventories, the short-term outlook for crude oil remains bearish.
India and Egypt were the top destinations for Russian seaborne fuel oil and vacuum gasoil (VGO) exports in April, traders said and LSEG data showed.

Haque: UAE, Saudi Non-Oil Growth Resilient

02:29am, Thursday, 23'rd May 2024
Khatija Haque, Emirates NBD, Chief Economist and Head of Research, discusses UAE growth for 2024. She speaks with Joumanna Bercetche and on Horizons: Middle East & Africa.
WTI and Brent crude prices fell 0.20%, prompting speculation about a potential bullish correction in the market.
Oil prices eased for a fourth straight day on Thursday on worries that U.S. borrowing costs could be hiked again if inflation surged, a move that could hurt oil demand.
Citi Research continues to expect that OPEC+ will hold its production cuts through the third quarter of this year, it said in a note on Wednesday.
U.S. lawmakers behind a congressional probe of major oil companies on Wednesday called on the Justice Department to investigate whether the industry deceived the public about fossil fuels' impact on c
Oil markets are moving lower amid demand worries.

Copper Rallies, Crude Oil Remains Below $80

12:13pm, Wednesday, 22'nd May 2024
Futures are lower after new record highs on Tuesday. Jake Hanley discusses this and explains the copper rally.
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