Oil Sustains Losses Amid Signs of Supply Rebound
Oil prices remained down on Tuesday as signs of a rebound in supply begin to emerge. West Texas Intermediate futures, the U.S. benchmark, hovered above $80 per barrel after falling 0.7% during the previous trading session. This comes after Saudi Arabia and Russia looked...
Diesel Scarcity Looms Amid Expected Oil Shortage
Diesel is expected to remain in short supply as the northern hemisphere approaches the winter months, thereby raising its demand for heating. This comes as crude oil, the resource from which diesel is produced remains in short supply and relatively steeply priced. While the...
Oil Remains at Nine-Month High Ahead of Inflation Report
Oil remained near its highest level over the past nine months on Thursday as investors braced themselves for the release of a key U.S. inflation report later in the day.
West Texas Intermediate futures remained above $84 per barrel after gaining 3% over the past...
Oil Hits Three-Month High as Supply Tightens
Oil prices rose to a three-month high on Monday as tighter supplies overshadowed concerns of an upcoming interest rate hike from the Federal Reserve later in the week.
West Texas Intermediate surpassed $78 per barrel as the previously-announced oil production cutbacks from OPEC+ began to...
Oil Declines As Traders Take in Profits
Oil fell marginally from its 11-week high on Friday as traders looked to rake in profits. Still, traders believe that this decline is temporary, both from a technical and fundamental point of view.
Despite Friday's dropoff, both West Texas Intermediate and Brent headed for their...
Oil Drops as Investors Weigh Opec+ Decision
Oil retreated on Wednesday following a 2% rise the previous day after Saudi Arabia and Russia announced production cuts. Investors are now looking to the 8th OPEC International Seminar in Vienna Wednesday for an indication of whether other members of the cartel will follow...