Oil Prices Continue to Advance as Bullish Sentiment Takes Hold – OilPrice.com
Oil prices maintained their gains from last week and rose further in morning trading in Asia today as supply concerns persist. Last week, the IEA report helped benchmarks rise 4%, with Brent crude above $85 a barrel and West Texas Intermediate above $81. The IEA said in a report that the oil market will be […]
Oil Prices Set for a Strong Weekly Gain on Demand Revisions – OilPrice.com
Oil prices were expected to rise about 4% in the week after the International Energy Agency became the latest forecaster to suggest oil demand this year could be stronger than previously expected. IEA Said On Thursday, it expected oil demand to rise by 1.3 million barrels per day this year, up from 1.2 million barrels […]
Gold Prices Soar Past $2,150 After Bullish Rally – OilPrice.com
via metal minor once again, World Precious Metals MMI (Monthly Metals Index) Failed to show strong bearish or bullish pressure. The index remained flat throughout February, with a decline of only 0.65%. Nevertheless, some bullish pressure penetrated into precious metal prices in early March, when many precious metals started to rise. Gold prices in particular […]
Oil Prices Are Set for a Second Consecutive Monthly Gain – OilPrice.com
Oil prices are expected to rise for the second consecutive month after briefly falling last year, with traders expecting an extension of OPEC+ production cuts. The extension would contribute to the perception of tightness in the oil market, which has played a role in keeping oil prices elevated for most of the past two months. […]
Surprise Build In Crude Oil Inventories Weigh On Prices – OilPrice.com
U.S. crude oil inventories rose by 483,000 barrels this week for the week ending Jan. 12, after analysts had expected 2.4 million barrels, according to the American Petroleum Institute (API). API reported that crude oil inventories decreased by 5.215 billion barrels in the previous week. On Tuesday, the Department of Energy (DoE) reported that crude […]