Oil prices rose in early Asian trade on Wednesday on Middle East tensions and a weaker dollar, while investors focused on inventory data after a two week delay in reporting.
U.S. oil futures settled unchanged on Tuesday, giving up earlier gains as traders awaited Wednesday's release of the Energy Information Administration's petroleum supply report. The government agency
Oil is moving away from recent lows as traders focus on rising demand.
Global oil markets could shift to a surplus in early 2024, as demand growth cools, the IEA said. This year has seen record supply from non-OPEC+ countries like US and Brazil.
The crude oil markets have pulled back ever so slightly early during the trading session on Tuesday, but still sees plenty of support underneath.
Global oil supplies are outpacing upward revisions to demand, causing markets to be less tight than expected this quarter, according to the International Energy Agency. Toril Bosoni, head of oil marke
OPEC's revised outlook signals robust demand for 2023, countering fears of declining crude oil market interest.
Oil prices inched up on Tuesday after an OPEC report said market fundamentals remained strong and due to concerns supplies might be disrupted as the U.S. cracks down on Russian oil exports.
Oil futures settled with a gain on Monday, extend their advance into a third session in a row, after posting losses in each of the last three weeks. In a note dated Sunday, analysts at Goldman Sachs s
OPEC argued in its latest monthly report that “overblown negative sentiment” is dominating global oil markets ahead of the group's next meeting with its allies. Will Kennedy reports on Bloomberg T
Oil futures edged higher Monday, attempting to build on a Friday rebound that wasn't enough to stave off a third straight weekly decline blamed on worries about the demand outlook.
OPEC on Monday said oil market fundamentals remained strong and blamed speculators for a drop in prices as it slightly raised its 2023 forecast for global oil demand growth and stuck to its relatively
The Organization of the Petroleum Exporting Countries, or OPEC, on Monday nudged its forecast for 2023 growth in oil demand higher to 2.5 million barrels a day, or mbd, from a projection of 2.4 mbd in
Amid declining global demand, the outlook for WTI and Brent crude oil futures turns increasingly bearish.
Oil prices eased on Monday, reversing their rally on Friday, as renewed concerns over waning demand in the United States and China dented market sentiment.
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