Tag: Oil Prices increase

Oil prices rose for a third consecutive day on Wednesday after Saudi Arabia submitted a warning to traders thinking of short selling. The Saudis' warning has given rise to expectations that OPEC+ could look to further reduce oil output in an effort to continue...

Oil extended its weekly losses on Monday morning as data from China indicated a decline in the country's manufacturing activities, thereby indicating that the country's economic recovery is going less smoothly than expected. West Texas Intermediate futures, the U.S. benchmark, fell by 2.3% during the...

According to a new report by International Energy Agency, oil demand will hit a new record this year, resulting in surging prices of crude oil. The IEA’s report predicts that the demand will come close to 102 million barrels per day in 2023, which is...

Oil continued to trade near a five-month high on Thursday as declining U.S. inventories and a rise in Chinese demand show signs of a tightening global market. West Texas Intermediate futures, the U.S. benchmark, remained above $83 per barrel; gaining 4.4% over the past...

Oil's recent rally came to a gradual halt on Wednesday as investors await official U.S. inventory data following OPEC+'s decision to impose an unexpected cut in production. West Texas Intermediate, the U.S. benchmark, held steady at around $80 per barrel after closing at its highest...

U.S. stock futures along with oil prices rose on Tuesday morning as investors awaited the release of key economic data. The JOLTS job openings survey and factory orders data were both set to be released during the course of the day. Contracts on the S&P...