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Tag: Oil Market

Oil on course for $90 with fresh 4% plunge

Oil on course for $90 with fresh 4% plunge Oil on course for  with fresh 4% plunge

LAST UPDATE The sell-off in oil continues steadily, with sellers prevailing today against the backdrop of rising US inventories and mammoth inflation paving the way for another giant Fed rate hike. In particular, the global benchmark the European crude type Brent sees the September delivery contract trading at a loss 4.1% and its price to […]

Small rise for oil, which remained below 100 dollars

Small rise for oil, which remained below 100 dollars Small rise for oil, which remained below 100 dollars

Oil closed higher on Wednesday, recouping some of the previous days’ losses that pushed both US crude and Brent below $100 a barrel yesterday, although US supply rose for a second week in a row and traders continued to they are concerned about demand. Natural gas futures, meanwhile, jumped more than 8% today as weather […]

Crude At 3-Month Low – Below $100 With ‘Dive’ Almost 8%

Crude At 3-Month Low – Below $100 With ‘Dive’ Almost 8% Crude At 3-Month Low – Below 0 With ‘Dive’ Almost 8%

Oil prices plunged 8% on Tuesday, closing below the psychological $100 mark, as the strengthening dollar fueled fears of a further hit to demand as fuel is priced in dollars, it becomes more expensive for holders of other currencies. Concerns about a drop in demand were initially raised by the strict restrictions imposed by China […]

Oil below 100 dollars again with a 5% plunge

Oil below 100 dollars again with a 5% plunge Oil below 100 dollars again with a 5% plunge

Oil is also moving downwards today, as the further strengthening of the dollar combined with the assessment of a weaker demand outlook next year lead to a barrage of sales that brings prices below 100 dollars. In particular, Brent for September delivery trades at $102.27 a barrel with a fall 4.5% or $4.8. Similarly, US […]

Crude losses in wake of new coronavirus measures in China

Crude losses in wake of new coronavirus measures in China Crude losses in wake of new coronavirus measures in China

Oil prices fell further on Monday, continuing last week’s downward slide as tight new restrictions imposed by China to tackle the coronavirus pandemic reignited fears of a slowdown in demand. Beijing imposed strict new restrictions on several cities over the weekend to deal with the emergence of Omicron’s highly contagious BA.5 sub-variant in the country. […]

Oil plunges more than 2% on China covid-19 fears

Oil plunges more than 2% on China covid-19 fears Oil plunges more than 2% on China covid-19 fears

Oil prices traded sharply lower, erasing Friday’s bullish reaction, as fears over the risk of limited demand from China underscored worries about low global supply levels. In particular, after the 2% gains on Friday, the Brent for September delivery today sees its price falling by 2.2% or 2.3 dollars and trades at $104.7 the barrel. […]

Oil: Week of recession worries with losses over 3.4%

Oil: Week of recession worries with losses over 3.4% Oil: Week of recession worries with losses over 3.4%

Oil prices closed higher for the second consecutive session, but the “black gold” recorded significant losses during the week amid concerns about an impending economic recession – due to restrictive monetary policies – which will hit demand in the coming months. Despite the recovery in oil prices on Thursday and Friday, which allowed US crude […]

US Crude Returns Above $100/Barrel – Natural Gas Rally 14%

US Crude Returns Above $100/Barrel – Natural Gas Rally 14% Oil on course for  with fresh 4% plunge

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 […]

New losses brought oil into a bear market

New losses brought oil into a bear market New losses brought oil into a bear market

Despite the bullish reaction in the morning, oil quickly erased its gains and finally extended the losses of yesterday’s wild sell off, as the assessment of an impending recession that could destroy demand for energy products seems to be taking hold. In particular, after the plunge of more than 8% yesterday, the American WTI for […]