On Tuesday, oil prices are declining due to pressure from concerns over escalating trade tensions. Market participants are worried about the impact of increasing friction between the US and EU on economic activity and fuel demand.
A decrease of the indicator value may contribute to the rise in quotes of NG, WTI, Brent.
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
According to five different trade sources cited by Reuters, Saudi Arabia's crude oil exports to China will rise to their highest level in two years in August.
UAE Energy Minister Suhail Al-Mazrouei stated on Thursday that the country could expand its oil production capacity after 2027 if market conditions warrant it. According to Reuters, this potential growth could position the UAE among the world's top five crude oil producers.
Analysts at Goldman Sachs Group Inc. predict that OPEC+ will probably wrap up its oil production increases at the next meeting, with a pause on further hikes to follow.
According to the latest World Oil Outlook by the Organization of the Petroleum Exporting Countries, or OPEC, global demand for crude will grow by about 19% to reach about 123 million barrels per day (bpd) by 2050.
Standard Chartered has debunked the Wall Street theory gaining popularity about the existence of hidden oil reserves outside the Organization for Economic Cooperation and Development (OECD) in China and South Africa.
On Wednesday, senior officials from the three leading OPEC producing countries—Saudi Arabia, the United Arab Emirates, and Kuwait—said the production increases delivered by the alliance were necessary.
The US Energy Information Administration (EIA) reported an unexpected 7.1-million-barrel increase in domestic crude oil inventories, pushing total stocks to 426 million barrels for the week ending July 4.
An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.
News on oil prices is not just information for specialists. This is an important signal for every experienced trader. This section of the website will help you understand when there’s a "Strong buy" signal for oil and when it is a "Strong sell" signal.
Oil price movements are more than just charts on a screen. It is one of the key drivers of the global economy. Understanding these dynamics helps in making rational decisions and adapting to changes.
