U.S. crude is down 2.9% for the week, while Brent is down 1.4%. Concern about the strength of global demand for oil continues to overshadow geopolitical risk.
‘Increasingly likely' OPEC+ will ditch plans to begin increasing supply in October due to price weakness: ING
Oil prices face a weekly decline as OPEC+ deliberates crucial output decisions amidst U.S. recession fears and easing Gaza supply concerns.
China's EV revolution slashes oil demand by 500k barrels daily. Dragon's green drive reshapes global markets as gasoline growth slows to mere 1.3% in 2024.
Oil prices steady, but weekly losses loom amid U.S. demand concerns. Analysts see potential support from declining global inventories and OPEC's cautious stance.
Oil prices were steady in early Asian trading on Friday, but were poised to end the week lower as downward revisions to U.S. employment data raised demand concerns and ceasefire talks in Gaza eased wo

Geopolitics sends oil down for a fifth session

06:38pm, Thursday, 22'nd Aug 2024
RBC's Helima Croft joins 'Fast Money' from Jackson Hole to discuss the current state of global oil markets.
Crude oil tests key support at 72.82 within a large symmetrical triangle. A breakout or breakdown could trigger significant volatility in the coming days.

4 ETFs to Mull as Hedge Funds Load Up on Energy

04:04pm, Thursday, 22'nd Aug 2024
With rate cuts potentially looming in September, hedge funds are loading up on energy sector stocks,. That could give traders opportunities in leveraged ETFs if they want to mirror their bets.
Oil prices gain ground as traders react to U.S. PMI data.

What's ahead for the oil market

12:09pm, Thursday, 22'nd Aug 2024
Jeff Currie, Carlyle chief strategy officer of energy pathways, joins 'Money Movers' to discuss the oil market as geopolitical tensions remain an overhang.
The U.S. benchmark is now up just 0.91% for the year, while Brent has erased all of its gain for 2024. Demand is slowing in China as drivers switch from gas to electric vehicles and trucks transition
Oil futures edged higher Thursday, consolidating after ending the previous session at their lowest since January, following revised U.S. jobs data that stoked worries about the outlook for crude deman
WTI futures drop 6.9% since mid-August as weak demand and potential OPEC+ supply hikes pressure oil prices. Bearish outlook persists.
The Greek-flagged oil tanker Sounion suffered "minor damage" following strikes off the Yemeni coast, which ignited a fire onboard. The vessel was left adrift in the Red Sea.
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