West Texas Intermediate (WTI) Oil price ended a three-day losing streak, holding steady near $76.20 during European trading hours on Tuesday. CrudeOil markets experienced significant volatility as traders assessed a series of executive orders issued by US President Donald Trump shortly after his inauguration.
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Crude Oil gains as cooling US inflation points to possible easing
SINGAPORE (Reuters) – Crude Oil prices rose on Monday as lower-than-expected U.S. inflation data revived hopes for further policy easing, although the outlook for a supply surplus next year weighed on the market.
Crude Oil Technical Analysis: First signs not good
Crude Oil price might be undergoing a gruesome disappointment if OPEC+ is unable to overdeliver on market expectations. With several analysts penciling in a delay between three to six months, OPEC+ is forced to at least deliver a 6 months production normalization delay. Preferably even longer, with anything less than 6 months set to push Oil prices further down ahead of President-elect Donald Trump’s presidency.
Crude Oil Technical Analysis: OPEC+ Needs to Act
Crude Oil prices could be set for a bear cycle as Donald Trump is set to become the next US President in January 2025. Trump has already committed in the runup to the presidential election that regulation and permitting will become less strict. At the same time, funds allocated to green energy will be diverted towards shale Oil and fossil fuel projects. That means structural additional supply is set to be released in 2025, on top of OPEC+’s foreseen supply normalization.
WTI appreciates to near $69.00 due to PBoC rate cuts, easing geopolitical tensions
West Texas Intermediate (WTI) Oil price edges higher following a more than 7% decline registered in the previous week, trading around $68.90 per barrel during the Asian hours on Monday. However, the downside may be limited as rate cuts in China, the largest Oil importer, are expected to stimulate domestic economic activity, potentially increasing demand for Oil. The People’s Bank of China (PBoC) lowered the 1-year Loan Prime Rate (LPR) to 3.10% from 3.35% and the 5-year LPR to 3.6% from 3.85%, aligning with expectations.
Crude oil prices fall by $2 on demand concerns, Israel comments
Crude Oil prices fell $2 in early Asian trade on Tuesday, as OPEC lowered its outlook for global oil demand growth in 2024 and 2025 and a media report said Israel is prepared to strike Iranian military bases, not nuclear or oil targets.
Crude oil near $71 amid Middle East tensions
Crude oil futures rose toward $71 per barrel, reaching a near one-month high as Middle East tensions escalated. Irans missile attack on Israel sparked concerns over potential disruptions in oil supply from the region, which accounts for a third of global production. Despite the tension, EIA data showed a 3.89 million barrel increase in U.S. crude inventories and weak gasoline demand. OPEC+ plans to restore some halted capacity starting in December, further easing concerns. MCX October delivery oil futures were up by Rs 57, trading near Rs 6000.
तूफान फ्रांसिन के बाद आपूर्ति संबंधी चिंताओं के कारण कच्चे तेल की कीमतों में उछाल
कच्चे तेल की कीमतों (Crude Oil Prices) में वृद्धि हुई क्योंकि बाजार का ध्यान तूफान फ्रांसिन के बाद आपूर्ति संबंधी चिंताओं और अमेरिकी कच्चे तेल के भंडार में अपेक्षित कमी पर केंद्रित था।
Ganesh Chaturthi 2024: Crude oil plunges on demand-supply imbalance in 2024, Brent down 20% in 12 months; OPEC+ in focus
Crude oil has plunged around 20 per cent in the last year due to an oversupply from non-OPEC member countries, even as OPEC+ aims to keep markets stable.
OPEC+ to pause planned October oil output hike of 180,000 bpd for two months after crude crashes to 14-month low
OPEC+ to pause planned October oil output hike of 180,000 bpd for two months after crude crashes to 14-month low.