Oil reacted after the two-day sell-off that brought it into bear market territory, after its prices recovered some of their losses with American crude climbing back above 100 dollars a barrel. Growing worries about an impending recession sent oil prices tumbling in the past two sessions, with the commodity giving back much of its gains […]
Tag: Brent
Oil will rise because supply growth will be less than demand in the coming months – UBS
The price of Brent crude suffered its biggest one-day drop since March on Tuesday. But after the recent crash, UBS economists expect oil price to rebound as tight supply relative to demand reasserts. The drop in oil prices could be reversed “Many OPEC+ oil producers continue to struggle to meet their production targets, and the […]
Oil jumps 2.5% and gains in the week
Oil rebounded from Thursday’s sell-off and erased intra-session losses to close in positive territory, with US crude jumping 2.5% and posting gains for the week. The black gold was coming off a 6-month run of gains as Brent rallied 48% in the first half of the year, and 6% in the second quarter. Accordingly, US […]
Brent oil will fall back towards $95 by the end of the year – Commerzbank
A barrel of Brent oil is now trading around $110. In mid-June, the price was still around $125. Commerzbank economists they expect prices to fall towards $95 by the end of 2022. The oil market between supply risks and demand concerns “In the short term, the massive release of oil reserves by the main consuming […]
US crude hits six-week low as demand worries resurface
Crude futures fell sharply on Wednesday, with US futures hitting a six-week low. “Oil is lower due to demand concerns, the prospect of a US gasoline tax suspension and renewed fears of a recession,” said Phillip Streible, Blue Line Futures’ chief market strategist. Brent crude for August delivery fell 2.5 percent to $ 111.74 a […]
The WTI is at a 6-week low as demand concerns return
Crude futures fell sharply on Wednesday, with US futures hitting a six-week low. “Oil is lower due to demand concerns, the prospect of a US gasoline tax suspension and renewed fears of a recession,” said Phillip Streible, Blue Line Futures’ chief market strategist. Brent crude for August delivery fell 2.5 percent to $ 111.74 a […]
Oil: Stop the profitable week series – US crude falls 9.2% in 5 days
Heavy losses for oil prices on Friday that pushed American crude in its first negative week after 7 consecutive five days, with a “dip” of more than 9%. “Concerns about demand are mounting amid growing voices estimating that the global economy is heading for recession in the coming months,” said Fawad Razaqzada, an analyst at […]
At a two-week low due to the Fed and rising US stocks
Crude oil prices fell to a two-week low on Wednesday as U.S. crude stockpiles rose for a second straight week after decision by the Federal Reserve to raise its key interest rate by three quarters of the unit. Brent crude for August delivery lost 2.2% to $ 118.51 a barrel on the ICE Futures Europe […]
The oil shock will not end in 2023 either
By Javier Blas Wall Street may be full of talk of a recession next year, but the energy market is another story. Most traders, policymakers and analysts see oil demand growing in 2023 and supply struggling to keep up. In private discussions, Western officials are worried that Brent crude will soon reach $ 150 a […]
Oil: Returned from the ‘red’ with small profits
Oil prices broke a two-day negative session, offsetting their intra-conference losses and finally gaining ground in the wake of a new jump in US inflation and rising coronavirus cases in China that may affect demand, with authorities take new restrictive measures. Specifically, the crude type West Texas Intermediate July delivery was up 26 cents, or […]
