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.
Wildfires in Canada could result in the country’s crude output falling by 5% as the fire in Alberta’s oil sands region gets closer to major production facilities, Bloomberg reports.
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.
According to a report by the American Petroleum Institute (API), US crude inventories dropped by 4.2 million barrels in the week to May 23. This contrasts with analysts' forecasts of a 1 million barrel increase.
According to a Reuters report, US shale operators are curtailing drilling activities in response to competitive pricing pressure from OPEC+. However, Saudi Arabia needs to take further action to strengthen its market influence.
Kazakhstan's Energy Minister Erlan Akkenzhenov stated that oil prices above $70–75 per barrel would likely be considered acceptable globally. The official dismissed criticism over the country’s exceeding production quotas set by OPEC+, citing the nation’s relatively modest energy output.
Analysts at Goldman Sachs advise adding gold and oil to long-term portfolios. The strategy is particularly relevant as concerns grow over the stability of the US economy.
According to Reuters, oil prices increased on Thursday after the US federal trade court blocked the implementation of tariffs imposed by President Donald Trump. On Thursday, the prices of two benchmark oil grades—Brent and WTI—rose by approximately 78 cents, or 1.2% and 1.3%, respectively.
A decrease of the indicator value may contribute to the rise in quotes of WTI, Brent.
The Norwegian Statistical Office (SSB) says they're expecting a record-breaking level of investment in the country's oil and gas sector in 2025. Revised estimates indicate that total capital inflows are likely to hit 269.1 billion Norwegian kroner (about $26.46 billion).
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.
