White House: US, Saudi Arabia, UAE ‘Have agreed to assure that global demand is met as all Iranian oil is removed from the market’
oil prices
Oil Jumps On Large Crude Inventory Draw
Gold Silver Reports (GSR) – Crude oil prices inched higher today after the EIA released its latest Weekly Petroleum Status Report, in which the authority said crude oil inventories had fallen by 8.6 million barrels in the week to February 22, though they are still above the seasonal five-year average.
Goldman Sachs sees oil taking a fleeting trip to $70-$75 a barrel
Gold Silver Reports (GSR) – Crude Oil prices could potentially rise as much as 12% from current levels, though the rally may prove fleeting, according to Goldman Sachs Group Inc.
Fed’s $4 Trillion Balance Sheet in Focus Ahead of Minutes From January Meeting
The U.S. dollar held onto gains against its global peers Wednesday ahead of Minutes from the Federal Reserve that are expected to confirm the bank’s recent signals on slower rate hikes and a more patient approach to monetary policy in the face of uncertain economic growth at home and notable weakening around the world.
Two Big Producers just Called the Bottom on Crude oil: $60 a Barrel
Gold Silver Reports (GSR) – Oman oil minister Mohammed Al-Rumhi told Bloomberg TV that the agreement between the Organization of Petroleum Exporting Countries (OPEC) and partners including Russia and Oman can sustain prices at $60 a barrel.
Crude Oil Prices Dip as Worries over Economic Slowdown Return
Gold Silver Reports (GSR) — Crude Oil prices were also supported by comments from US Federal Reserve Chairman Jerome Powell on Thursday that the central bank had the ability to be patient on monetary policy.
Nymex Crude Oil Prices Forecast Above $45 Level, Target $49 — $52 – Neal Bhai Reports
Gold Silver Reports (GSR) – The Energy Information Administration said domestic oil inventories rose by 7,000 barrels last week, defying analyst projections for the decline that usually accompanies growing winter fuel demand. Gasoline supplies surged by 6.9 million barrels and stockpiles at a key storage hub in Oklahoma also grew.
Crude Oil Extends Gains After OPEC-led Group Seals Deal to Cut Supply
Crude Oil Prices surged on Friday after the Organisation of the Petroleum Exporting Countries (OPEC) and some non-OPEC producers including heavyweight Russia announced they would cut oil supply by 1.2 million bpd, with an 800,000 bpd reduction planned by OPEC-members and 400,000 bpd by countries not affiliated with the group.
Qatar Quits OPEC
“Qatar has decided to withdraw its membership form OPEC effective January 2019 and this decision was communicated to OPEC this morning,” Saad al-Kaabi said, as quoted by Reuters, at a news conference.
Breaking News – Crude Oil Prices Dip on Swelling U.S. Supply – OPEC Output Cuts Loom
U.S. West Texas Intermediate (WTI) crude futures were at $51.30 per barrel at 0023 GMT, down 15 cents, or 0.3 percent from their last settlement.