NYSEARCA:PXJ

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$41.89
-1.35 (-3.12%)
At Close: Jun 05, 2026
Global firms have started to reroute ships amid attacks from Yemeni Houthi militant group.
Oil costs rose almost 3% Monday after attacks by the Houthi militant group of Yemen on ships in the Red Sea led to a number of shipping groups, and oil giant BP, pausing business in the area, leading
Crude oil markets have rallied rather significantly during the trading session on Monday, as the Federal Reserve pivot should continue to elevate risk appetite.
Stock futures were up in premarket trading at the outset of the last full trading week of the year, while oil gained following shipping disruptions in the Red Sea.
Oil prices rose on Monday, influenced by Houthi attacks on ships in the Red Sea, heightening concerns about potential oil supply disruptions.

What to Expect From Oil Prices in 2024

03:05am, Monday, 18'th Dec 2023
Concerns regarding the anticipated demand for oil in the upcoming year and the current level of oil production by key market participants are contributing to the downward trajectory of oil prices.
Brent and WTI crude oil prices rally amid Russian cuts, Red Sea risks, and varied IEA/EIA forecasts, buoyed by Fed's dovish shift.
Oil prices rose nearly 1% in early Asian trade on Monday, supported by lower exports from Russia and as attacks by the Houthis on ships in the Red Sea raised concerns of oil supply disruption.

Crude Oil Outlook for 2024

11:46am, Sunday, 17'th Dec 2023
Crude oil is said to be one of the more interesting asset classes for 2024, due to the fact that 2023 has been such a massive mess.
IEA's higher oil forecast, EIA's caution, Fed's policy, and dollar shift hint at cautious crude oil market uptrend next week.
Oil traders focus on U.S. dollar's rebound and wait for additional catalysts.

IEA Expects Global Oil Demand to Slow Down

11:24am, Friday, 15'th Dec 2023
Global oil demand growth is slowing down sharply as economic activity weakens in key countries, the International Energy Agency said as it slashed estimates for this quarter. Bloomberg's Will Kenned
Crude oil markets have plunged initially during the course of the trading week, only to turn around and show signs of life again.
The crude oil markets have gone back and forth in tight range trading on Friday, as we continue to test the top of the overall consolidation area.
Brent and WTI crude oil prices mark a significant weekly recovery, fueled by IEA's optimistic demand forecast for 2024.
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