U.S. crude oil held firm above $81 per barrel on Thursday, with the benchmark heading for its second weekly gain in a row. West Texas Intermediate has gained 4% this week, while global benchmark Brent is up 3.3%. JPMorgan forecasts Brent will hit $90 per barrel in September as the market tightens on falling inventories. … Read more
U.S. crude oil held above $80 per barrel on Tuesday, after starting the week with strong gains. West Texas Intermediate futures gained more than 2% on Monday, continuing a recent advance despite mixed economic data out of China, the world’s largest importer of crude oil. Here are today’s energy prices: West Texas Intermediate July contract: $80.29 … Read more
Crude oil futures rose Monday following their best week since April as traders sifted through mixed economic data out of China. U.S. crude oil and global benchmark Brent closed out last week nearly 4% higher, as analysts expect the market to tighten in the third quarter as summer fuel demand draws down inventories. Oil stockpiles … Read more
Crude oil futures rose for a fifth day Friday, on pace for the best week in more than two months as analysts see a tighter market heading into the third quarter. Oil prices are up more than 4.5% for the week, the strongest gains since early April, when futures rose on boiling geopolitical tensions in … Read more
Aerial view of Olmeca oil refinery belonging to the Petroleos Mexicanos (PEMEX) company, located in Paraiso, Tabasco state, Mexico, May 20, 2024. Yuri Cortez | Afp | Getty Images Crude oil futures fell Thursday after rising U.S. stockpiles sent a bearish signal to the market and the Federal Reserve dialed back interest rate cut expectations … Read more
U.S. crude oil rose more than 1% Wednesday, extending this week’s rally as OPEC and the Department of Energy see steady demand this year. The Department of Energy raised its global consumption growth forecast to 1.1 million barrels per day, up from 900,000 bpd previously. The increased demand implies a supply deficit with world production … Read more
Crude oil futures were little changed Tuesday as OPEC stuck to its demand forecasts, counting on steady economic growth this year. Oil prices rallied more than 2% on Monday and have now recovered most of the losses from last week. The market had sold off to four-month lows after OPEC+ decided to increase crude production … Read more
Platform Eureka, an offshore oil and gas platform operated by Beta Operating Company LLC, off the coast of Long Beach, California, US, on Thursday, Nov. 2, 2023. Tim Rue | Bloomberg | Getty Images Crude oil futures rose slightly on Monday as analysts see summer fuel demand pushing the market into a supply deficit in … Read more
Private fishing boats near offshore petroleum drilling rig in the Gulf of Mexico. Ron Buskirk | Getty Images Crude oil futures were on pace Friday for a third straight weekly loss on worries that demand may be softening even as OPEC+ plans to increase production. U.S. crude oil and global benchmark Brent sold off earlier … Read more
A pump jack drills oil crude from the Yates Oilfield in West Texas’s Permian Basin, near Iraan, Texas, U.S., March 17, 2023. Bing Guan | Reuters Crude oil futures rose for a second day Thursday as weak jobs data has boosted investor that the Federal Reserve will cut interest rates this year. Fed futures trading … Read more
