Crude Oil news

Crude oil price is on a rebound ahead of the weekly US oil inventory data. WTI futures are up by 0.48% at $74.12. Brent futures are also up by 0.72% at $75.07. crude oil price OPEC+ talks Crude oil price hit a 6-year high earlier on Tuesday as a…

Crude oil price has surged amid the ongoing OPEC+ crisis. The hike in gasoline prices in the US is proof of heightened demand for crude oil. crude oil price OPEC+ crisis On Friday, member states of OPEC+ voted on the proposal to increase crude oil output by about 2…

Crude oil price is on a decline amid rising COVID-19 cases. Later in the day, the market will be reacting to US oil inventory data ahead of the OPEC+ talks on Thursday. crude oil price Rising COVID-19 cases The spread of the aggressive Delta variant, which was first recorded…

Crude oil price remains steady above $75 amid talks of the probable $100 per barrel. At the time of writing, Brent futures were at $75.56 while WTI futures were at 73.42. Reasons behind the $100 pr barrel forecast According to the Bank of America Securities, the demand dynamics are…

Crude oil price remains on an uptrend as Goldman Sachs maintains a bullish outlook on commodities. During an interview on CNBC’s Squawk Box, the bank’s global head of commodities research, Jeff Currie said, “…the bullish thesis on commodities has nothing to do with inflation risk, nothing to…

The price of crude oil continues to trade above the $70 support level even though the Baker-Hughes weekly rig count rose. The vaccination programs will allow more people to travel this summer; however, concerns over new coronavirus in Britain signal that a battle against the pandemic is still not over.

TC Energy Corporation (NYSE: TRP) has finally decided to halt the Keystone XL pipeline project after U.S. Joe Biden revoked the permit needed to complete the U.S. stretch of the pipeline earlier this year. In a press release on Wednesday, the company said it “will continue to coordinate…

The activist investment firm Engine No. 1 has won the third seat on the Board of Directors at Exxon Mobil Corporation (NYSE: XOM) after gaining two board seats at Exxon’s annual shareholder meeting on May 26. Shares of the oil and gas giant are relatively flat in premarket trading.

Suncor Energy Inc. (NYSE: SU) shares have advanced from $17 above $24 since the beginning of February 2021, and the current price stands around $23. This stock is still reasonably valued, but despite this, Warren Buffett’s Berkshire Hathaway closed its positions in Suncor Energy during the first quarter of…

The activist investment firm, Engine No. 1, has been piling pressure on Exxon Mobil Corporation for the past few months to embrace a transition to a low-carbon world and accept its demand for four board seats. The ongoing proxy battle could come to a close today when the shareholders of…

Crude oil price has eased ahead of EIA’s oil inventory data on Wednesday. WTI futures are down by 0.33% at $65.77 while Brent futures are down by 0.35% at $68.27. According to Goldman Sachs’ Jeff Currie, the price will surge to $80 in the current year. Iranian oil expected…

The price of crude oil remains under pressure after the news that Iranian crude supplies could return to the market. Investors have started to behave nervously; still, crude oil prices advanced on Friday, taking a breather after three days of losses. Fundamental analysis: Iranian crude supplies could return to the…

Crude oil price has extended its previous gains as optimism on global oil demand recovery continues to fuel the rally. On Tuesday, WTI futures were down by 0.38% at $66.49. At the same time, the benchmark for global oil – Brent futures, rose by 0.35% at $69.78. Optimism of…

Colonial Pipeline, the largest operator of fuel pipelines in the United States, came under a cyber attack that involved ransomware on Friday, forcing the company to temporarily shut down all pipeline operations. The company said in a statement on Monday that it was working toward substantially restoring its operations by…

Crude oil price is responding to the ongoing demand optimism despite the rising COVID-19 cases in India. Brent and WTI futures are at $67.43 and $64.35 respectively.    crude oil price Heightened Demand Optimism Crude oil price is rallying as a reaction to the ongoing optimism on increasing demand.

The crude oil price is advancing this Tuesday after the news that OPEC could allow boosting oil output slightly from May 1. The price of crude oil continues to trade above the $60 support level, but rising Covid-19 cases and new restrictive measures in some parts of the world could…

Crude oil price has been range-bound for the fifth consecutive session. The rectangular pattern is the market’s reaction to the ongoing optimism of global economic recovery and pessimism from rising COVID-19 cases. On Monday, WTI futures were down by 1.06% at $61.45. At the same time, Brent futures fell…

Crude oil price catching a breather after being on a decline for two consecutive sessions. The fall is a reaction to the rising COVID-19 cases. India, which is the third-largest oil importer in the world, is recording overwhelming numbers of coronavirus infections. WTI futures are up by 0.46% at 61.34.

Crude oil price has eased on its rally following the rise in COVID-19 cases in different parts of the world. On Monday, Brent futures were up by 0.28% at $66.88. At the same time, WTI futures dropped by 0.29% to $63.31. crude oil price Rising COVID-19 Cases Crude oil price…

Crude oil price has managed to move past $62 after failing to reach the level since its decline to 58 in mid-March. The surge is a reaction to the decline in US oil stockpiles. Stalled US-Iran nuclear talks have also supported the prices. crude oil price US Inventories Data On…

Crude oil prices opened the new week lower on renewed concerns related to supply and demand forecast.  Fundamental analysis: Uncertainty surrounding supply and demand outlook Brent crude futures and U.S. West Texas Intermediate (WTI) fell last week as investors were worried over the pandemic’s unclear impact on fuel demand and…

Crude oil price was trading higher on Thursday as the market reacted to the decisions made by OPEC+ on production quotas. Investors looking to trade oil had been eyeing the April meeting for cues on the direction of oil price in the second quarter. WTI futures closed Thursday’s session up…