Search results
Results from the WOW.Com Content Network
Oil prices were on track for a third consecutive week of declines as concerns over a trade war between the United States and China weighed on markets. "Crude oil futures edged higher, but the ...
Oil extended gains to hit a five-month high on Monday as worries grew over supply disruptions impacting big importers China and India following wide-ranging sanctions against Russian crude. West ...
One result of those slack prices is that U.S. average pump prices for gasoline fell to $3.03 a gallon this week, the lowest since May, 2021 and well down from their record peak of $5.02 from June ...
Crude oil markets started out relatively stable during the week but got hammered after the jobs report sent interest rates much higher in America.
On 5 October 2022, Russia and Saudi Arabia agreed to further cut crude oil output by 2 million barrels a day. The White House called the decision "shortsighted", and accused OPEC+ to align with Russia. Decreased supply could benefit Russia's petrochemical industry. The US would release oil from its strategic reserves according to government ...
The news of the fifth straight week of increases in U.S. crude inventory had little effect. [43] WTI and Brent ended March down nearly 4 percent. With the April 1 announcement that OPEC and other nations would increase production, WTI rose 3.9 percent to close at $61.45 and Brent increased 3.4 percent to $64.86. [44]
The crude oil markets have rallied a bit during the course of the week but continue to respect the downtrend line that makes up the triangle on my chart.
OPEC has often attempted to keep the price of the OPEC Basket between upper and lower limits, by increasing and decreasing production. This makes the measure important for market analysts. The OPEC Basket, including a mix of light and heavy crude oil products, is heavier than both Brent crude oil, and West Texas Intermediate crude oil.