Oil prices edged higher on Thursday for the third straight session after government data showed a steep draw in U.S. crude stockpiles, rebounding from multi-month lows touched this week.
Oil markets enjoyed strong support as investors' risk appetite increased.
The oil markets have been very noisy over the past few sessions, but at this point in time, it is likely that we will continue to see even more volatility, as the global growth situation is still very

Crude Inventories Drop By 3.7 Million Barrels

10:57am, Wednesday, 07'th Aug 2024
Gasoline inventories increased by 1.3 million barrels, exceeding analyst expectations.
U.S. crude stocks fell while gasoline and distillate inventories rose in the week ending August 2, the Energy Information Administration said on Wednesday.
U.S. crude oil has risen to nearly $75 per barrel, after following equity markets lower earlier in the week on recession fears. Middle East tensions and ongoing OPEC+ production cuts are providing a f
Oil futures rose Wednesday, finding support as stock markets continued their recovery from a global rout that had served to pull down commodity prices.
Oil prices consolidate amid rising geopolitical tensions and surprising U.S. inventory data. Learn how these factors impact the crude oil market.
Majed Kabbara, CEO of Quencia Capital, discusses the outlook for oil prices and Aramco's second-quarter results.
Natural gas surges past $2, signaling potential bullish momentum as geopolitical tensions and market dynamics fuel investor optimism.
Oil prices slipped in early Asian trading on Wednesday following a brief rebound in the previous session after industry data showed an unexpected build in U.S. crude oil and gasoline inventories, offs

Crude Oil Price Forecast: Poised for Rally

04:48pm, Tuesday, 06'th Aug 2024
Crude oil may rally after forming a bullish hammer pattern, with potential resistance at key Fibonacci levels and top of a symmetrical triangle pattern.

Will Oil Rebound From Lows?

03:32pm, Tuesday, 06'th Aug 2024
Oil markets have a decent chance to rebound from the low end of the yearly trading range as Fed is about to start its rate cut cycle.
Oil markets are trying to stabilize after recent volatility.
Over the past month, the price of West Texas Intermediate (WTI) has fallen from about $85.00 a barrel to below $75.00 a barrel. Concerns about weaker demand from China have negatively impacted oil pri
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