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Oil prices in New York gained for a second session, building on the biggest one-day gain in nine months, amid glimmers of optimism among bulls that the delta coronavirus variant’s hit to demand may be passing. View the full article
Oil was poised for a third weekly gain as demand remained resilient while supplies are frayed across the OPEC+ coalition and beyond. View the full article
Oil fell for a fourth day, marking its longest run of losses since March, pressured by a rising dollar and economic data illustrating the U.S. recovery’s uneven path. View the full article
The sell-off will prove to be “transient” and this week’s decline presents a buying opportunity amid the large rally, Goldman Sachs Group analyst Damien Courvalin said in a note. There’ll still be a swift rebalancing of the market, with vaccinations driving an increase in mobility, he said. UBS Group AG also stuck with its positive outlook for Brent. View the full article
Brent futures lost as much as 3.7%. OPEC and its allies will add 400,000 barrels a day each month from August until all halted output is revived. A jump in virus cases from Asia to the U.S. drove down equities, with stocks in Europe hitting a seven-week low. View the full article
Brent futures lost as much as 3.7% as OPEC and its allies pledge to increase oil production from August until all halted output is revived. A jump in virus cases from Asia to the U.S. drove down equities, with stocks in Europe hitting a seven-week low. View the full article
Futures in New York lost as much as 8.3% on Monday as OPEC and its allies pledge to increase oil production from August until all halted output is revived. A jump in virus cases from Asia to the U.S. drove down equities, with stocks in Europe hitting a seven-week low. View the full article
Oil tumbled as concerns about a global economic slowdown and growing Covid-19 cased in China reduced risk appetite among traders. West Texas Intermediate lost as much as 8% to slip under $96 a barrel. View the full article
Oil tumbled as concerns about a global economic slowdown and growing Covid-19 cases in China reduced risk appetite among traders. West Texas Intermediate lost as much as 8% to slip under $96 a barrel. View the full article
West Texas Intermediate crude futures dropped as much as 10%, the most since March 9, while oil headed for its worst trading day in almost three months as recession fears iced markets, outweighing a fundamentally tight supply market. View the full article
Futures in New York climbed above $65 a barrel, while the U.S. currency was trading lower. Gasoline inventories have declined more than 25 million barrels in the last two weeks, while a measure for consumption expanded last week to the highest level since November. View the full article
Oil pared losses after Royal Dutch Shell Plc. said a critical U.S. Gulf of Mexico oil-production platform will be out of service for the rest of this year. View the full article
Oil fell sharply as a new coronavirus strain raised concerns about the outlook for demand and sent global markets spiraling. View the full article
Oil headed for the biggest monthly loss since October as investors weighed the prospect of additional OPEC+ production and the restoration of crude output in the U.S. after Hurricane Ida. View the full article
The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America. View the full article
Oil squeezed out its first weekly gain in three on signs that global demand is holding up despite concerns that the renewed spread of the virus could stall the recovery. View the full article
The oil demand picture remains uneven across various regions, with Indian fuel sales falling in February amid higher pump prices, while demand is climbing in America and the UK. View the full article
The U.S. crude benchmark climbed nearly 5% on Monday and the global benchmark Brent also advanced, rallying along with equities and other commodities. In addition to more positive sentiment in financial markets, China has made progress in containing the fast-spreading delta variant, bringing local cases down to zero. View the full article
OPEC+ agreed to maintain its schedule of gradual monthly oil-production increases, sending crude prices sharply higher. View the full article
Oil jumped on speculation that the Biden administration may pull the plug on any plans to release crude from the nation’s emergency reserves after a U.S. energy report showed supplies rising next year. View the full article
Oil is “in a holding pattern until we get to June, because that’s when Europe’s going to start to reopen and the U.S. driving season will have officially kicked off,” said Jay Hatfield, CEO of Infrastructure Capital Management. “Between now and then, the main influences will be Iran headlines as a headwind” and signs of further improvement in the U.S. market as a supportive factor. View the full article
Oil fluctuated as Saudi Arabia and the United Arab Emirates were said to resolve the standoff that has prevented OPEC+ from satisfying a growing clamor for extra barrels. View the full article
Oil production across American shale patches next year is expected to climb as producers take advantage of a price recovery, according to a government report. View the full article
Physical oil markets are screaming for more supply. Prices are rising in the North Sea, the key region that’s central to the value of many oil transactions, while differentials for Nigerian grades have also made notable gains. View the full article
Oil held near $72 a barrel as inconclusive nuclear talks between world powers and Iran -- which has elected a new hardline president -- allayed prospects for a swift revival of the Islamic Republic’s crude exports. View the full article
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About this blog
I started this blog to express what I sense about the highs and lows of the oil realm, while cautiously analysing historical data, taking into account the geo-political development at the time of recording them.
I got into this field, having been a passive observer of fluctuations of crude oil prices and their global consequences for years.
Then, when on the day of Great Oil Crash in April, 2020, I made a decision to make my own blog, with the motto, ‘analysing data that really matters’.
Having come from an academic background in mathematics and physics, I analyse data using my own tools, created with JavaScript and Python, taking my decision on board while making decisions.