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Oil prices to extend decline this year on weakening demand — BCA Research

BCA Research forecasts further decline in oil prices this year, driven primarily by weakening global demand for crude. As reported by Investing.com, Brent oil lost over 6% of its value in the first half of the year.

Yesterday at 8:28 AM
United States. Crude Oil Inventories. The value of the indicator has increased from -5.836M to 3.845M

An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.

2 July
United States. All Car Sales. The value of the indicator has decreased from 2.6M to 2.54M

A decrease of the indicator value may contribute to the fall in quotes of Gasoline, WTI, Brent.

2 July
US Senate budget plan cuts spending for Strategic Petroleum Reserve replenishing

The budget bill passed by the US Senate on Tuesday includes a cut in funds to replenish the Strategic Petroleum Reserve (SPR) despite Donald Trump's previous statements about his intention to restore its volumes.

2 July
US Senate budget plan cuts spending for Strategic Petroleum Reserve replenishing
Oil stabilizes amid Middle East tensions

Oil prices stabilized after a modest rise as market participants assessed geopolitical risks and a 1.4 million barrel draw in crude inventories at the Cushing oil storage hub last week, Bloomberg reports.

2 July
Oil stabilizes amid Middle East tensions
United States. Total Vehicle Sales. The value of the indicator has decreased from 15.65M to 15.3M

A decrease of the indicator value may contribute to the fall in quotes of Gasoline, WTI, Brent.

2 July
United States. API Weekly Crude Oil Stock. The value of the indicator has increased from -4.277M to 0.68M

An increase of the indicator value may contribute to the fall in quotes of WTI, Brent.

1 July
Saudi Arabia may raise oil prices for Asia to 4-month high — Reuters

Saudi Arabia is expected to hike oil prices for Asian buyers to a four-month high in August. Reuters reports that the move comes as demand for term supplies surges and summer fuel consumption peaks.

1 July
Saudi Arabia may raise oil prices for Asia to 4-month high — Reuters
Traders expect fourth consecutive hike in OPEC+ oil production

Oil traders expect OPEC+ to agree on a fourth consecutive boost in oil production at its meeting on Sunday, with the projected increase of 411,000 barrels per day taking effect in August.

1 July
Traders expect fourth consecutive hike in OPEC+ oil production
Geopolitical tension increases oil price forecasts — Reuters poll

According to yesterday's Reuters report, analysts have slightly raised their oil price forecasts following the escalation of geopolitical tensions in the Middle East. However, growing energy supply from OPEC+ and moderate resource demand continue to put pressure on barrel prices.

1 July
Geopolitical tension increases oil price forecasts — Reuters poll
Morgan Stanley forecasts Brent crude at $60 per barrel by 2026

Analysts at Morgan Stanley project that Brent oil prices will reach $60 per barrel by early next year. This price move is anticipated as the fuel market stabilizes and geopolitical risks subside, especially after the de-escalation of Iran-Israel tensions.

1 July
Morgan Stanley forecasts Brent crude at $60 per barrel by 2026

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.

What determines oil prices?

  • Global events. Political crises, conflicts, and agreements between producing countries have a huge impact on oil prices.
  • Supply and demand. When many consumers try to buy oil that is in deficit – the prices go up. Otherwise, when supply is greater than demand, the prices go down.
  • Russia and Saudi Arabia. These countries are among the leading oil producers. Their decisions on oil output have a direct impact on the global market.
  • OPEC. This is a group of oil-producing countries. Their agreements on production cuts are aided at stabilizing prices.
  • Alternative energy sources. The development of solar, wind, and other power stations can weaken the countries' dependence on oil and put pressure on its prices.
  • Electric cars. The increasing popularity of electric cars reduces the need for gasoline and, consequently, for crude oil.
  • Global tensions. Oil is a strategic resource. Geopolitical events can affect its production and prices.
  • Environmental constraints. Rising environmental awareness may reduce demand for oil, affecting its price.

Why follow the latest oil news?

  • To make informed investment decisions. Being aware of the oil industry news helps you make conscious choices.
  • To assess the impact on the economy. Oil prices can affect inflation, economic growth, and even our wages.