WTI Drops Toward $74.00 as Trump Pressures OPEC to Lower Oil Prices
West Texas Intermediate (WTI), the US crude oil benchmark, trades near $74.10 on Friday, continuing its downward trend after US President Donald Trump urged Saudi Arabia and the Organization of the Petroleum Exporting Countries (OPEC) to reduce oil prices. Uncertainty surrounding Trump’s proposed tariffs and energy policies adds to the pressure on WTI. Speaking at […]
WTI Falls Near $75.50 as Trump Plans to Boost Output and Impose Tariffs
West Texas Intermediate (WTI), the benchmark for US crude oil, is trading near $75.55 on Wednesday, retreating as US President Donald Trump announces plans to expand domestic oil and gas production and impose tariffs on key trading partners. On Monday, Trump declared a national energy emergency, granting authority to fast-track approvals for oil, gas, and […]
WTI Crude Holds Above $69 on Rising Supply Concerns Amid Russia-Ukraine Tensions
WTI Crude Holds Above $69 on Rising Supply Concerns Amid Russia-Ukraine Tensions West Texas Intermediate (WTI) crude oil continues its upward momentum, trading around $69.20 per barrel during Tuesday’s Asian session, marking its second consecutive day of gains. The rally is fueled by heightened supply concerns stemming from the escalating Russia-Ukraine conflict. Over the weekend, […]
WTI Holds Steady Near $68.50 Amid US Dollar Strength
WTI Holds Steady Near $68.50 Amid US Dollar Strength West Texas Intermediate (WTI), the benchmark for US crude oil, trades near $68.40 on Friday, maintaining stability as a sharp drop in US gasoline inventories counterbalances concerns about an oversupply. According to the latest report from the Energy Information Administration (EIA), US crude stocks rose by […]
WTI Slips to Near $68.00 on Disappointment Over Chinese Stimulus, Stronger US Dollar
WTI Slips to Near $68.00 on Disappointment Over Chinese Stimulus, Stronger US Dollar West Texas Intermediate (WTI), the US crude oil benchmark, trades around $68.00 on Tuesday as it faces downward pressure from concerns about trade tensions and weak demand growth in China. Fears are mounting that the Trump administration’s plans for new tariffs could […]
WTI Declines to $71.50 as Stronger US Dollar Pressures Oil Prices
WTI Declines to $71.50 as Stronger US Dollar Pressures Oil Prices West Texas Intermediate (WTI) crude oil is trading around $71.45 on Thursday, edging lower due to the rise in the US Dollar (USD) following Republican candidate Donald Trump’s win in the U.S. presidential election. The stronger USD has put downward pressure on USD-denominated commodities, […]
WTI Drops Near $67.50 as Middle East Risk Premium Eases
WTI Drops Near $67.50 as Middle East Risk Premium Eases West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $67.55 on Tuesday, with prices falling as concerns over a major Middle Eastern conflict diminish. This decline follows Israel’s recent military strikes on Iran’s installations, which avoided oil or nuclear sites, signaling limited […]
WTI Crude Oil Holds Modest Losses Above $70, Bearish Bias Persists
WTI Crude Oil Holds Modest Losses Above $70, Bearish Bias Persists West Texas Intermediate (WTI) crude oil prices struggle to maintain momentum after a modest rebound from the $69.25 region, a two-week low. During Wednesday’s Asian session, WTI is trading around $70.25, down by 0.30% for the day, and appears vulnerable to further declines. Despite […]
WTI Crude Drops Near $74 After China Inflation Data
WTI Crude Drops Near $74 After China Inflation Data West Texas Intermediate (WTI) oil prices extended losses for a second consecutive session on Monday, falling to around $74.10 per barrel during Asian trading hours. The decline of over 1% comes in the wake of weaker-than-expected inflation data from China for September, which was released on […]
WTI Holds Steady Around $75, Poised for Second Consecutive Weekly Gain
WTI Holds Steady Around $75, Poised for Second Consecutive Weekly Gain West Texas Intermediate (WTI) crude oil prices remain flat around the $75 per barrel mark during the Asian session on Friday, struggling to build on the previous day’s gains. Despite this pause, WTI is still on track to register its second straight weekly increase. […]
WTI Rises Above $76.50 Amid Concerns Over Middle East Oil Production Disruptions
WTI Rises Above $76.50 Amid Concerns Over Middle East Oil Production Disruptions West Texas Intermediate (WTI), the US crude oil benchmark, is trading near $76.85 on Thursday, continuing its upward momentum as geopolitical tensions in the Middle East intensify. Concerns are growing that Israel may launch an attack on Iran’s oil infrastructure, escalating fears of […]
WTI Crude Oil Rises to $73.50 Amid Middle-East Tensions and Potential Supply Disruption
WTI Crude Oil Rises to $73.50 Amid Middle-East Tensions and Potential Supply Disruption West Texas Intermediate (WTI) crude oil continues its upward trend for the fourth consecutive day, trading near $73.50 per barrel during Friday’s Asian session. The rise in oil prices is primarily driven by escalating geopolitical tensions in the Middle East, raising concerns […]
WTI Surges Above $70 as Iran Missile Strike on Israel Sparks Fears in Global Oil Markets
WTI Surges Above $70 as Iran Missile Strike on Israel Sparks Fears in Global Oil Markets West Texas Intermediate (WTI), the US crude oil benchmark, climbed to around $70.65 on Wednesday. The surge comes after Iran launched missiles at Israel, raising concerns about potential disruptions in oil supply from the region. Iran fired over 200 […]
WTI Extends Rally Above $70.00 as Hurricane Francine Disrupts Production
WTI Extends Rally Above $70.00 as Hurricane Francine Disrupts Production West Texas Intermediate (WTI), the US crude oil benchmark, is trading around $70.35 on Tuesday, continuing its rally as Hurricane Francine impacts oil production in the US Gulf of Mexico. The storm has caused significant disruptions, with the US Bureau of Safety and Environmental Enforcement […]
Oil Edges Higher Ahead of Weekly Stockpile Reports
Oil Edges Higher Ahead of Weekly Stockpile Reports Oil prices are trading relatively flat on Wednesday after experiencing sharp declines over the past three sessions. The stabilization follows reports that a tanker in the Red Sea was attacked by Houthi rebels. Delta Tankers confirmed that its vessel, Sounion, sustained minor damage in the attack. This […]
Oil Retreats as Markets Shift Focus to Demand Concerns
Oil Retreats as Markets Shift Focus to Demand Concerns Oil prices declined on Tuesday, ending a five-day rally as the market shifted its focus back to concerns over demand, following OPEC’s recent downward revision of its 2024 demand growth forecast due to weaker expectations in China. Global benchmark Brent crude futures dropped by 57 cents, […]
Gold Prices Fall Further Due to Fed’s Hawkish Outlook
Gold Prices Fall Further Due to Fed’s Hawkish Outlook On Wednesday, gold prices faced downward pressure as sellers stepped in, influenced by the latest Federal Open Market Committee (FOMC) minutes, which were perceived as markedly more hawkish than earlier communications. This interpretation suggests that the U.S. Federal Reserve may maintain its tight monetary policy stance […]
Gold Price Stays Under $2,400, Bullish Outlook Holds
Gold Price Stays Under $2,400, Bullish Outlook Holds Gold prices (XAU/USD) struggled to extend their recovery from a recent low of $2,325-2,324, hovering within a narrow range during Tuesday’s Asian trading session. Despite the lackluster performance, gold remained close to its all-time high set last Friday, supported by ongoing geopolitical tensions in the Middle East […]