WTI rebounds to break losing streak

WTI rebounds to break losing streak

An oil pump jack is shown in a field in Stanton, Texas, on June 27, 2024. Brandon Bell | Getty Images News | Getty Images U.S. crude oil futures rebounded more than 1% on Wednesday, breaking a three-day losing streak as an industry report pointed to falling U.S. crude inventories and as wildfires in Canada … Read more

Oil prices drop to lowest levels in more than a month

Oil prices drop to lowest levels in more than a month

An oil pump jack is shown in a field on June 27, 2024 in Stanton, Texas.  Brandon Bell | Getty Images News | Getty Images Crude oil futures on Tuesday dropped to the lowest level in more than a month, as the market has largely ignored recent tit-for-tat strikes between Israel and Houthi militants in … Read more

WTI holds after inventories fall

WTI holds after inventories fall

U.S. oil futures edged slightly lower on Thursday after jumping 2.6% in the previous session as crude inventories fell for the third week in a row. U.S. commercial crude inventories fell by 4.9 million barrels last week, though gasoline stocks rose by 3.3 million barrels and motor fuel demand weakened by 615,000 barrels per day. … Read more

WTI rises for third day as inflation eases

WTI rises for third day as inflation eases

An offshore oil rig platform is photographed in Huntington Beach, California, U.S. July 4, 2024.  Etienne Laurent | Reuters U.S. crude oil rose 1 % on Friday, topping $83 per barrel as consumer prices eased and inventories fall. The recent oil rally has stalled out with West Texas Intermediate largely flat this week, ahead 0.38%, … Read more

WTI rises as inflation eases

WTI rises as inflation eases

An oil pumpjack is shown in a field in Stanton, Texas, on June 27, 2024. Brandon Bell | Getty Images News | Getty Images Crude oil futures rose Thursday as inflation eased, bolstering hopes that the Federal Reserve will cut interest rates later this year. Inflation as measured by the consumer price index dropped 0.1% … Read more

WTI holds as OPEC sees robust growth

WTI holds as OPEC sees robust growth

An oil pump jack is shown in a field on June 27, 2024 in Stanton, Texas. Brandon Bell | Getty Images News | Getty Images Oil prices held firm Wednesday as OPEC sees solid demand supported by stronger economic growth this year. OPEC maintained its oil demand growth forecast of 2.2 million barrels per day … Read more

WTI lower as oil infrastructure recovers from Beryl

WTI lower as oil infrastructure recovers from Beryl

Oil prices fell for the third straight session on Tuesday, as Gulf Coast production and refining infrastructure appears to have avoided substantial damage from Tropical Storm Beryl. On Monday, Beryl made landfall in Matagorda, Texas, as a Category 1 hurricane but later weakened into a tropical storm. Beryl has moved inland as a tropical depression … Read more

WTI falls as market tracks Hurricane Beryl

WTI falls as market tracks Hurricane Beryl

U.S. crude oil futures fell nearly 1% Monday as traders monitored the impact of Hurricane Beryl on Gulf Coast refining, production and export infrastructure. Beryl made landfall near Matagorda, Texas, as a Category 1 hurricane with maximum sustained winds of 80 miles per hour, according to the National Hurricane Center. Matagorda is about 150 miles … Read more

WTI on pace for fourth straight weekly gain

WTI on pace for fourth straight weekly gain

U.S. crude oil was little changed on Friday but was on pace for a fourth straight weekly gain as falling inventories show an uptick in demand. Oil market analysts have been forecasting a tighter market in the third quarter as summer fuel demand picks up. U.S. inventory data appeared to confirm those forecasts, with crude … Read more

WTI holds firm ahead of inventory data

WTI holds firm ahead of inventory data

Crude oil futures held firm on Wednesday as traders waited for the latest round of U.S. inventory data for signs of whether gasoline demand is picking up. U.S. crude oil gained about 6% last month on expectations of a tighter third quarter with stockpiles forecast to draw down as summer fuel demand picked up. The … Read more