Crude prices fell for the fourth straight day on Tuesday. Disappointing macroeconomic data releases continue to weigh on sentiment. Investors await API’s weekly crude stock data. Crude prices continued to push lower for the fourth consecutive trading day on Tuesday and a barrel of West Texas Intermediate (WTI) settled at $ 66.59, shedding more than […]
Tag: Petroleum
WTI falls below $ 67.00 on concerns of weaker demand and a rally in the USD
WTI trades at a loss on Tuesday during the European session. Coronavirus nervousness, geopolitical concerns and demand concerns weigh on WTI. The strength of the US dollar puts pressure on WTI prices. Crude prices are trading negatively, albeit with less aggressive momentum on Tuesday. Prices opened higher but failed to maintain momentum and are moving […]
Oil prices are likely to remain high
Rabobank analysts they expect oil prices to likely remain high, as OPEC + is seen as maintaining its current course. They see a mixed media image for Brent. Featured statements: Oil markets started the week under pressure as continued long speculative sell-off amid concerns over demand for delta variants weighed on prices. However, in an […]
WTI falls below $ 69.00 amid stock market drop and lower demand forecast from IEA
Deterioration in the mood of the markets and the rise of the dollar favor a fall in oil. WTI failed to go above $ 69.50 and falls below $ 69.00. WTI’s price per barrel is falling 0.45% on Thursday, trading just below $ 69.00. A setback in the markets further favored the decline in oil […]
EIA crude stocks decline by 0.4 million barrels, WTI trading below $ 68
Commercial crude oil inventories in the U.S. declined by 0.4 million barrels in the week ending Aug. 6, the weekly report released by the U.S. Energy Information Administration (EIA) revealed on Wednesday. . The analysts’ estimate was for a decrease of 1.2 million barrels. Market reaction Crude oil prices remain bearish after this report and […]
WTI soars more than 2% and is approaching $ 69.00
Oil spreads gains and rises more than 3%. Strong rebound in equities boosts crude. The A barrel of WTI rose more than a dollar in the last hour, accompanying a rebound in the main Wall Street indices, which jumped from negative terrain to positive. The barrel climbed to $ 68.84, the highest since Friday. The […]
WTI fails to recover and returns below $ 66.00, loses more than 3%
Oil continues to decline due to COVID fears and the dollar rises. WTI reaches its lowest level since July 20. The price of the cross is falling significantly and continues with the retracement that began last week. A barrel of WTI fell to $ 65.17, the lowest intraday level since July 20. It then bounced, […]
WTI reverses trend and erases gains after failing to affirm above $ 70.00
WTI extended the hike after employment report but then lost steam. The price failed to sustain above $ 70.00 and fell to find support above $ 69.50. The The price of a barrel of WTI is rising modestly but without succeeding in erasing the weekly losses. The price climbed to $ 70.16 on Friday in […]
USA EIA crude oil stocks rise 3.6 million barrels, WTI trading below $ 69
Commercial Crude Oil Inventories in the US rose by 3.6 million barrels in the week ending July 30, revealed on Wednesday the weekly report published by the US Energy Information Administration (EIA). The analysts’ estimate was for a decrease of 3.1 million barrels. Market reaction Crude oil prices remain under strong selling pressure after this […]
USD / CAD rises above 1.2500 as oil falls
Loonie under pressure as WTI falls 4%. USD / CAD is up for the second day in a row. USD / CAD rose to 1.2502 in US hours, even amid a weaker US dollar overall. The sharp drop in oil prices weighed on the loonie. The barrel of WTI falls 4%. Following the release of […]