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$116.15
-3.10 (-2.60%)
At Close: Jun 05, 2026
Crude oil faces bearish outlook amid China's weakening demand and OPEC+'s uncertain production decisions. Watch for policy shifts.
Weak U.S. dollar provided additional support to oil markets in today's trading session.

Gold's Rise versus Oil Is a Warning

01:40pm, Friday, 23'rd Aug 2024
Gold and oil are usually considered in isolation, but the interplay between the pair offers a useful insight into the global macro picture. Bloomberg Intelligence Senior Commodity Strategist Mike Mc
The past week in the crude oil markets have been a bit of a mess, as the markets are trying to see some kind of move in one direction or the other. The market is sideways and has been for some time.
The crude oil markets continue to recover, and at this point in time are probably going to be watching central bank statements more than anything else. With this, the market looks like it is going to
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.
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.
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