Crude Oil

West Texas Intermediate (WTI) prices plunged 7.2% during the first few minutes of the opening trade in Asia on Thursday and puzzled experts are touting different reasons for the sudden and dramatic fall in prices, which later stabilized. When trading kicked off a few hours later in global benchmark...

With crude oil prices recently edging toward $80 a barrel investors may be wondering if it's time to buy Chevron (CVX) or Exxon Mobil (XOM) stock before their first-quarter earnings reports on Friday, April 28. The two oil giants have the ability to profit immensely from higher oil prices which...

Japan buys Russian crude oil, deviating from U.S.-led efforts to control prices. Decision may impact Japan's energy costs and global oil market dynamics. Oil prices have experienced significant shifts recently, with a 40% drop and a 17% rebound.   In a surprising move, Japan has decided...

The U.S. on Sunday criticized the surprise oil output cuts by Saudi Arabia and other OPEC+ countries. What Happened: The Biden administration said the oil output cuts were not advisable given the uncertain market conditions.  "We don't think cuts are advisable at this...

Following a record-breaking 2022, investors are wondering whether energy stocks still have untapped potential for long-term returns. Oil prices have risen sharply in the last week, with WTI crude recording a 6% weekly gain and rising far above $70 per barrel on the back of lower-than-expected U.S....

Energy stocks, tracked by the Energy Sector Select SPDR (NYSE: XLE), are in a period of volatility as oil prices decline, owing to demand worries associated with banking sector turmoil. According to U.S. Energy Secretary Jennifer Granholm, it would be "difficult" to replenish...

Exxon Mobil Corporation (NYSE: XOM), the biggest U.S. oil company with more than $400 billion of market capitalization, has witnessed an unfavorable price action recently, struggling up and down the important 200-day moving average (DMA) at about $102 per share. Exxon Mobil shares fell...

President Joe Biden's administration said on Monday it is reportedly selling 26 million barrels of crude oil from the Strategic Petroleum Reserve — a step that may temporarily push the reserve below its current level of about 372 million barrels, its lowest level since 1983. The Department of...

By RoboForex Analytical Department On Monday, a Brent barrel is declining to 85.50 USD. At the end of last week, crude oil prices grew by almost 2%. This was the market reaction to the decision of the Russian Federation to cut down on oil mining by 0.5 million barrel a day starting March 2023....

President Joe Biden has reportedly said there would be “consequences” for Saudi Arabia for collaborating with Russia to trim oil production, an indication that cracks have appeared in the relationship between the two long-time allies. What Happened: Biden told CNN...

Oil prices were mixed on Tuesday following China recording its weakest economic growth in about half a century, while reversal from its zero-COVID policy late last year kept hopes of recovery alive. Brent crude futures were trading higher by 0.38% at $84.78, recouping some of the loss...

Prominent market commentator Jim Cramer analyzed Carley Garner’s chart to explain how some commodities could soon make a comeback. What Happened: “The charts, as interpreted by Carley Garner, tell us that the boom and bust cycle in commodities never stops, and right now that’s...

Crude oil prices were a mixed bag Thursday morning as fuel demand weakens amid the tepid reopening of China's economy. Brent futures for February 2023 dipped $1.13 cents to $82.13 a barrel at the time of writing, while U.S. West Texas Intermediate (WTI) crude futures fell $1.13, or 1.43%, to $...

Russia is likely to hike its crude oil exports if the European Union ban on imports of its fuel results in lower refinery throughput. What Happened: "If there are problems with the sale of petroleum products, oil refining to some extent can be replaced by additional volumes of oil exports,...

Prominent market commentator Jim Cramer on Tuesday analyzed a chart by Carley Garner and advised investors to buy the dips in oil, saying that the sell-off in the commodity is largely over. What Happened: “The charts, as interpreted by Carley Garner, suggest that...