WTI

Global energy prices fell on Monday, with Brent crude dipping back below $80 a barrel after OPEC+ rescheduled its meeting — originally planned for Sunday — to later this week. In early trade, Brent crude was down 1.2% at $79.50 a barrel, while Nymex West Texas Intermediate fell 1.2% to $74.61 a...

Oil prices fell during afternoon trade on Friday, as OPEC+ was reported to be close to a deal that will bring more oil onto the market from African-producing members of the oil cartel. In mid-afternoon trade, Brent Crude was down 1.3% at $80.35 a barrel, while US West Texas Intermediate fell 2.4%...

On Wednesday, West Texas Intermediate (WTI) crude oil fell below $76 a barrel, breaking through its 200-day moving average, which had served as a strong support level since mid-July. This decline was driven by concerns of a global demand slowdown outweighing supply worries. Oil prices are currently...

In light of the 2024 election deal between the Venezuelan government and its opposition, there are reports suggesting that the Biden administration is getting ready to ease sanctions on Venezuela’s oil and gas sector. What Happened: This development comes after an anonymous senior official...

The stock market is sailing through uncertain waters, and one of the looming forces threatening its stability is the surge in fuel prices. According to Erin Browne, the portfolio manager for multi-asset strategies at Pacific Investment Management Co. (PIMCO), equity investors might be...

Could the price of oil potentially reach $100 per barrel? This question is currently at the forefront of investors’ minds in the current market landscape with WTI oil trading around $92 per barrel and Brent oil sailing above $95. This psychological milestone could be a cause for concern for a...

As the world watched for a general decline in inflation, a potential 2023 economic surprise might be right around the corner: oil prices surpassing $100 a barrel. Fueled by supply constraints from major oil-producing nations such as Saudi Arabia and Russia, and coupled with an unexpected display of...

As crude oil prices surge, experts are starting to bet on a barrel of oil hitting the coveted $100 mark. Price premiums for physical oil barrels are skyrocketing across the globe, with supplies from various regions, including the Middle East, Azerbaijan, and Russia, commanding higher prices as...

Energy stocks have remarkably outperformed their tech counterparts over the past three months. The driving force behind this surge? A resounding oil rally. WTI-graded crude oil has experienced a remarkable ascent of over 30% since mid-June. This dramatic increase can be attributed to a combination...

Once again in the spotlight, Brent crude oil prices, are at their highest levels this year. This is largely due to anticipated further reductions in oil output from major exporting countries. In a surprising move, Saudi Arabia has hinted at even more significant production cutbacks in the near...

The Biden administration is engaged in talks with Venezuela, exploring the possibility of a temporary lifting of crippling sanctions in exchange for a commitment to hold fair elections next year. Preliminary discussions have commenced, with senior officials from both the U.S. and Venezuela involved...

Major energy stocks were mixed in premarket trading on Tuesday as crude oil flat-lined ahead of the opening of the U.S. market. Uneven Recovery: The WTI-grade crude, also known as light-sweet crude, was last trading at $80.70 a barrel, down 0.02% from the previous session close of $80.72 a barrel....

Crude oil has gained five weeks in a row, almost undetected by investors who are completely focused on the stock market surge fueled by AI stocks and the significant reduction in inflation. Such a winning stretch has not occurred in the oil market in over a year and a half, with the most...

Oil prices traded marginally lower during Monday morning’s Asian trading session as possibilities of a slowdown led by extended rate hikes by the Federal Reserve overshadowed fears of any supply constraints. What Happened: West Texas Intermediate futures for August...