NYSEARCA:PXJ

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$42.68
-0.250 (-0.582%)
At Close: Jun 03, 2026

Crude Inventories Increase By 16.3 Million Barrels

11:01am, Wednesday, 15'th Feb 2023
The surprising EIA report put additional pressure on oil markets. WTI oil is testing the $78 level.
Trades of key Texas-crude contracts have hit a record high.
The International Energy Agency raised its forecast for demand this year, arguing it will be lifted by China's reopening after years of Covid-19 restrictions.
The energy watchdog raised its forecasts for oil demand this year to a record level, as China fueled a surge in air travel and Russian production remained surprisingly resilient to Western sanctions.
Crude oil inventories rose by a massive 10.507 million barrels last week, the American Petroleum Institute (API) data showed late Tuesday.
It was a bearish morning for the Hang Seng Index and the broader Asian markets. Following the US CPI Report, US retail sales will be a consideration.

Oil futures mark first loss in 3 sessions

02:41pm, Tuesday, 14'th Feb 2023
Oil futures posted a loss on Tuesday for the first time in three sessions, with prices pressured by news that the U.S. Energy Department will release 26 million barrels of oil from the Strategic Petro
WTI oil prices fell below $80 a barrel. The US plans to sell sweet crude from two storage sites starting in April.
Oil markets managed to rebound from session lows despite rising Treasury yields.
Stronger-than-expected economic growth in the U.S. and Europe, coupled with China's economic reopening, is seen boosting global appetite for crude.
Oil futures fell Tuesday, after news reports said the U.S. would follow through with a plan to sell another 26 million barrels of crude from its Strategic Petroleum Reserve.
Inflation data on Tuesday could influence views on interest rates, which has implications for oil prices.
Oil prices fell in early Asian trade on Tuesday after the U.S. government said it will release more crude from its Strategic Petroleum Reserve (SPR) and on other reports that more supply is coming int

Why Oil Is Headed Higher

08:18pm, Monday, 13'th Feb 2023
Russia cuts production again, tensions are escalating in Ukraine, why Louis Navellier sees $100-per-barrel oil on the way, get ready for a broiling summer
Oil futures climbed Monday, with U.S. prices settling at their highest in more than two weeks. Traders weighed Russia's plan to cut its oil output by 500,000 barrels per day in March and awaited Tuesd
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