NYMEX WTI Crude

After having cut its oil forecasts twice in less than a week, analysts at Goldman Sachs cut their annual forecasts for Brent and West Texas Intermediate Crude for 2025 and 2026 yet again, warning of a worst-case scenario involving a tariff-driven global recession and higher supply by the OPEC+...

Traders in crude oil futures contracts pushed their holdings up to the highest levels in nearly a year despite a distinct lack of movement of higher prices for the past couple of months. Data from Bloomberg shows around 660 million barrels of oil derivatives have been added so far this year,...

Oil prices fell on Wednesday after U.S. inventory data showed gasoline and distillate stocks grew strongly for a second week, while crude stocks also rose. In early afternoon trade, Nymex WTI, which had been more than 1% higher earlier, fell back to $72.30 a barrel to leave it flat on the day....

Oil prices were set for a second straight week of gains on Friday as Red Sea tensions persisted following a series of attacks on commercial shipping in the region by Yemeni Houthi rebels. In early trade on Friday, the U.S. benchmark oil futures contract Nymex WTI was up 1.1% at $74.68 per barrel,...

Oil prices have found some respite from a six-week sell-off as BP PLC (NYSE:BP) became the latest company to announce it was halting shipments through the Red Sea due to the “deteriorating security situation for shipping.” The development comes amid increasing attacks on vessels in the...

Crude oil prices were trading under pressure on Wednesday after the COP28 climate summit ended with a historic agreement to shift away from fossil fuels and increase commitments to renewable energy sources. Nymex WTI, the U.S. benchmark crude futures contract, was trading flat at $68.72 a barrel in...

Oil prices fell to five-month lows on Wednesday following four straight days of declines as traders remained wary that OPEC+ production cuts would have sufficient impact to offset any loss in demand from a global economic slowdown. Brent crude fell 0.8% in early trading on Wednesday to $76.55 a...

Could the price of oil potentially reach $100 per barrel? This question is currently at the forefront of investors’ minds in the current market landscape with WTI oil trading around $92 per barrel and Brent oil sailing above $95. This psychological milestone could be a cause for concern for a...

As the world watched for a general decline in inflation, a potential 2023 economic surprise might be right around the corner: oil prices surpassing $100 a barrel. Fueled by supply constraints from major oil-producing nations such as Saudi Arabia and Russia, and coupled with an unexpected display of...

The Past Week, In A Nutshell What Happened: In an extension of the sharp rotation out of safety on a sustained economic rebound after the COVID-19 coronavirus pandemic, stretched sentiment propelled stocks to record closing highs. Remember This: “We are starting to see some extreme measures...