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.
On Thursday, Barclays raised its Brent crude price forecast by $6 to $72 per barrel for 2025 and by $10 to $70 per barrel for 2026, citing expected demand growth. Geopolitical tensions in the Middle East have eased, and the risk premium has disappeared.
According to Baker Hughes' weekly report released on Thursday, US energy companies reduced the number of active oil and gas drilling rigs for the tenth week in a row. The total rig count dropped by 8 to 539.
Alberta's crude production fell to its lowest level in two years in May, as wildfires and maintenance work reduced output from the oil sands. According to Bloomberg, crude output in Canada's Alberta province fell by 397,000 barrels to 3.61 million barrels per day in May.
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.
Standard Chartered predicts the group will announce one final 411,000 barrel-per-day production increase at its August meeting. Oil markets will easily absorb extra supply in the short term.
According to a quarterly survey by the Federal Reserve Bank (Fed) of Dallas, US shale companies are set to drill fewer wells this year than initially planned as uncertainty over President Donald Trump's tariffs and lower oil prices hurt profits.
According to Bloomberg, oil prices fell after the market experienced its largest increase in two weeks. Traders' attention is drawn to the US trade negotiations with key partners, as well as the OPEC+ meeting.
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
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.
