Despite the pressure on oil prices at the beginning of the day, which pushed it even below $ 100 a barrel, crude oil recovered and returned again above this psychological level after the announcement of US stocks. The fuel came under pressure early Wednesday as growing, widespread lockdowns in China as the country struggled to […]
Tag: oil
WTI continues to trade near $100 a barrel as traders weigh geopolitics against China demand/growth concerns
WTI continues to trade near $100 as market participants weigh energy security developments in Europe against China demand/global growth fears. The latest US inventory figures gave WTI a short-lived lead with the US SPR falling to its lowest level since 2002. After posting a solid recovery on Tuesday after Monday’s brief drop to $95.00 a […]
Reduces crude losses after the announcement of US stocks
Oil contracts narrowed their initial lows on Wednesday, following the release of US Energy Information Administration (EIA) data on US stocks last week. In particular, the EIA announced that US crude reserves increased last week by 700,000 barrels. Analysts in a poll by The Wall Street Journal expected an increase in inventories, but a smaller […]
Italy considers nationalization of Lukoil refinery – Concern in Sicily
Italy is considering temporarily nationalizing the Lukoil-owned ISAB refinery as one of its options if sanctions on Russian oil are imposed, two government sources told Reuters. Industry Minister Giancarlo Giorgetti plans to raise the issue of ISAB nationalization as an option when the Italian cabinet meets on Thursday, one source said. Georgetti’s office said the […]
Oil is still declining today – At 90 euros for natural gas
LAST UPDATE 12.18 Oil prices are moving with new losses, continuing to decline after the strong dip of 4% yesterday, although the pressures have been reduced to a degree as the worries about the economic course of China seem to subside. In particular, Brent June futures fell 1% to $ 101.2 a barrel. Similarly, the […]
Stabilizing trends in oil after the dive – At 91 euros for gas
LAST UPDATE 14:00 Stabilizing trends in the $ 100 area show oil prices continuing to decline after a strong 4% dip yesterday, as concerns about China’s economic performance seem to subside. In particular, the Brent June contract is now moving with a small increase of 0.65% and is moving at 103.66 dollars per barrel. Similarly, […]
Stabilizing trends in oil after the dive – At € 91 per gas
LAST UPDATE 14:00 Stabilizing trends in the $ 100 area show oil prices continuing to decline after a strong 4% dip yesterday, as concerns about China’s economic performance seem to subside. In particular, the Brent June contract is now moving with a small increase of 0.65% and is moving at 103.66 dollars per barrel. Similarly, […]
WTI falls towards $90.50 amid China lockdown concerns
Oil prices slumped on Monday amid concerns about demand in China, and amid risk-off flows and the stronger dollar. WTI fell over $6 to $95.00 and is eyeing a test of the March/April lows in the $93.00 area. oil prices experienced a sharp drop on Monday, and WTI futures from the previous month they last […]
Slow dip against the backdrop of lockdowns in China
Oil prices plunged on Monday amid growing concerns that the spread of Covid-19 in China would hit demand even harder in the coming weeks. Crude for June delivery fell $ 5.45 to $ 96.59 a barrel on the New York Mercantile Exchange. Brent crude for June delivery lost 4.7% at $ 101.68 a barrel. Rising […]
WTI continues to trade below $100.50
WTI is trading a few dollars lower on Friday, but is within recent intraday ranges below $100. Amid the lack of new developments, oil traders are considering various issues relevant to the oil market. Crude oil prices continue to trade without incident, with WTI futures of the first month stuck within their intraday ranges for […]