Traders are worried that China's economy remains under strong pressure.
Oil prices hit their lowest level since August on Tuesday, with WTI crude below $80 a barrel. Economic data from China was mixed, while top OPEC+ producers are extending supply cuts.
Crude oil markets initially fell during trading on Tuesday, but they do look like they are trying to bounce a bit. We are below the 200-Day EMA, so that causes some technical pressure as well.
In today's financial news, global markets show resilience, even as rate cut enthusiasm wanes and U.S. crude oil news sees prices slip below $80.
Brent and WTI futures fall as wary investors react to China's health and demand concerns, signaling a bearish oil outlook.
Saudi Aramco on Tuesday reported a 23% fall in third quarter net profit, marginally beating analyst's estimates, on lower crude oil prices and volumes sold.
Oil futures edged higher on Monday to recoup a small portion of the loss they suffered at the end of last week. “The crude complex has seen consistent headwinds over the past two weeks as the market
Crude oil markets have been going back and forth during the course of the trading session on Monday, as we continue to hang around the 200-Day EMA.
Christyan Malek, global head of energy strategy and head of EMEA oil and gas equity research at JPMorgan, discusses oil market volatility and the outlook for energy demand.
Crude oil rises with production cuts; U.S. may tighten Iran sanctions; oil's short-term forecast stays hopeful amid geopolitical shifts.
Oil prices edged up on Monday after top exporters Saudi Arabia and Russia said they would stick to extra voluntary oil output cuts until the end of the year, keeping supply tight, while investors watc
OPEC+ decisions and EIA inventory reports to drive oil market sentiment in the face of global economic and policy developments.
Oil futures declined on Friday, with U.S. prices tallying a loss of 5.9% for the week, according to Dow Jones Market Data. All of the softer U.S. economic data may have come as a relief to Federal Res
Crude oil markets have fallen during the course of the week, reaching the 50-Week EMA in both grades of crude oil that I follow.
Oil traders bet that Israel-Hamas conflict would not spread to other countries in the region.
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