Crude oil markets are looking for some type of resolution to the short-term choppiness as we continue to see a lot of “nothingness.”
US strategic reserve plan, Canadian wildfires, and China's refinery surge boost WTI prices, signal improved demand.
WTI crude oil remains steady due to reduced oil supplies from OPEC+ cuts and US strategic reserves purchases.
The week ahead will be a busy one, with economic indicators, central bank commentary, US politics, and recession jitters to test market risk sentiment.
Mounting fears of a recession in the US and China cast a shadow on oil demand growth
Oil futures declined on Friday, with U.S. prices losing almost 2% for the week. “Besides contending with the prospects of a recession, oil prices were met with a barrage of bearish signals this week
Oil markets are under strong pressure as traders stay focused on recession risks.
The crude oil markets have stabilized a bit during this past week, after having such a volatile week during the previous one. Because of this, we may see an attempt to recover.
Oil futures rose early Friday, but remained on track for a fourth straight weekly fall, dogged by worries over the economic outlook.
Oil futures finished lower for a second straight session Thursday as traders continued to weigh the outlook for energy demand. U.S. “debt ceiling drama will eventually play a larger driver for oil p
Oil markets are down by more than 2% amid recession worries.
Crude oil markets have fallen again during the trading session on Thursday, as we continue to see a little bit of exhaustion head into the marketplace.
U.S. oil futures settled with a loss on Wednesday after the Energy Information Administration reported the first weekly gain in U.S. crude supplies in four weeks. June West Texas Intermediate crude CL
Oil is trading near session lows as traders react to the EIA report.
The U.S. continues to sell oil from the Strategic Petroleum Reserve, which is bearish for oil markets in the near term.
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