Wells Fargo analysts have expressed optimism about the recent decision by OPEC+ to extend its production cuts through the end of 2024, citing it as a positive signal for oil prices. The move, in response …
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Oil Prices Stabilize Amid Golan Heights Tensions
Oil prices remained relatively stable on Monday despite heightened tensions in the Middle East following a rocket attack in the Israeli-occupied Golan Heights. While the attack, attributed by Israel to Hezbollah, has raised fears of …
Continue readingOil Prices Dip on Weak Chinese Demand, Gaza Ceasefire Hopes
Oil prices fell on Thursday, driven by concerns over weakening Chinese demand and expectations of a ceasefire in the Gaza conflict. Brent crude futures for September dropped 1.1% to $80.80 a barrel, while U.S. West …
Continue readingOil Prices Rise on US Inventory Draw, But Long-Term Concerns Linger
Oil prices climbed in Asian trade on Wednesday, finding a brief reprieve from recent losses. This upward tick was driven by a surprise decrease in US crude inventories, as reported by the American Petroleum Institute …
Continue readingOil Prices Stabilize Amid Economic Uncertainty
Oil prices held steady on Thursday, as investors grappled with mixed signals about crude demand. A tug-of-war between optimism about a potential Federal Reserve interest rate cut and concerns about an economic slowdown kept prices …
Continue readingOil Prices Slip Despite Strong US Fuel Demand
Oil futures closed slightly lower on Friday, with investors weighing the impact of a weak consumer sentiment report against growing expectations of a Federal Reserve rate cut in September. Brent crude futures settled at $85.03 …
Continue readingOil Prices Rise on US Inflation Data, Rate Cut Hopes
Oil prices climbed on Thursday, with the Brent benchmark rising above $85 a barrel, driven by hopes of interest rate cuts in the United States. The surge followed data revealing a slowdown in US inflation, …
Continue readingOPEC Maintains Strong Oil Demand Forecast: Summer Travel, Economic Growth Key Drivers
The Organization of the Petroleum Exporting Countries (OPEC) has stuck to its prediction of robust global oil demand growth for 2024 and 2025. OPEC attributes this strong outlook to a resilient global economy and a …
Continue readingOil Prices Slip as Gaza Talks Ease Supply Worries, Hurricane Beryl Remains a Concern
Oil prices edged lower on Monday after a four-week rally, driven by easing concerns over supply disruptions due to potential ceasefire talks in Gaza. However, the potential impact of Hurricane Beryl on US oil production …
Continue readingGlobal Stocks Surge on Strong US Jobs Data, UK Labour Wins Landslide Victory
Global stocks climbed on Friday, with US Treasury yields dipping after a strong jobs report boosted expectations of a Federal Reserve interest-rate cut. The S&P 500 and Nasdaq hit fresh closing highs, led by communication …
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