oil prices

Oil prices are experiencing their fourth consecutive week of gains, driven by seasonal demand and record-breaking U.S. travel for the Fourth of July holiday. Additionally, crude has faced supply issues related to geopolitical tensions in the Middle East and disruptions from hurricanes in the...

Crude oil prices declined for the fifth consecutive session on Tuesday, with West Texas Intermediate (WTI) light crude, tracked by the United States Oil Fund (NYSE:USO), closing at $73.32. This marks the lowest level since Feb. 7, 2024. The recent decline in oil prices is primarily due to...

Three energy stocks are among the top 10 performers within the S&P 500 since the beginning of the year, representing a significant paradigm shift compared to the underperformance of the energy sector throughout 2023. A significant factor contributing to the outperformance of energy stocks since...

Recent spikes in commodity prices are tipping the balance towards a potentially grim economic outlook for the year, akin to the challenging times seen in the 1970s. Ed Yardeni, the president and CEO of Yardeni Research, notes that the chances of witnessing a repeat of the 1970s are increasing,...

In an environment marked by a combination of tight supply, escalating demand, and ongoing geopolitical tensions, oil prices are projected to surge, potentially reaching a peak of approximately $95 per barrel this summer. This perspective comes from Francisco Blanch, a leading commodity and...

Oil prices kicked off the new week on a bullish trajectory, with spot contracts for light crude West Texas Intermediate (WTI) surging above $82 per barrel, marking a return to levels last observed in early November 2023. The surge in oil prices is propelled by tightened conditions in the global...

Natural gas prices surged on Monday after EQT Corporation (NYSE:EQT), the largest U.S. producer, announced it was cutting output in response to low prices. U.S. natural gas futures jumped 5.6% to $1.938, while exchange traded funds that track gas prices were also higher. The United States Natural...

Gasoline prices at the pump are on the rise again, after falling to a two-and-a-half-year low in early January. On Wednesday, the national average price rose to $3.30 a gallon, up 2.2 cents from a week ago, and up 25 cents from $3.05 hit on January 11, which was the lowest since June 2021....

Crude oil prices have had a pretty dismal year. Ongoing warfare in Ukraine had little long-term impact. Nor, to the utter surprise of commodity analysts, did the renewal of violence between Israel and Hamas. In every decade since the 1970s, violence in the Middle East, from 1973’s Yom Kippur...

Saudi Arabia’s energy minister, Prince Abdulaziz bin Salman, has argued that the recent drop in oil prices is not due to weakened demand but rather the result of speculative trading. What Happened: Prince Abdulaziz has dismissed allegations of a dwindling demand for oil, instead...

On Wednesday, West Texas Intermediate (WTI) crude oil fell below $76 a barrel, breaking through its 200-day moving average, which had served as a strong support level since mid-July. This decline was driven by concerns of a global demand slowdown outweighing supply worries. Oil prices are currently...

What Happened: Notable economist Mohamed El-Erian took to Twitter on Tuesday to highlight the recent downturn in yields and oil prices. He notes that this trend could be beneficial for the economy and most financial asset classes. However, he cautions that these advantages may...

Acclaimed economist Peter Schiff warned Tuesday about the potential impact of a rise in bond yields, oil, and gold. He referred to this as a “trifecta of doom,” indicating an entrenched inflation and dwindling confidence in the Federal Reserve and the U.S.’s fiscal solvency. #...

As crude oil prices surge, experts are starting to bet on a barrel of oil hitting the coveted $100 mark. Price premiums for physical oil barrels are skyrocketing across the globe, with supplies from various regions, including the Middle East, Azerbaijan, and Russia, commanding higher prices as...

The week began with a surge in oil prices, as WTI crude reached over $85 per barrel, its highest level in 10 months. Saudi Arabia and Russia jointly decided to extend production cuts by 1.3 million barrels per day until the end of 2023, sparking concerns among analysts and economists about...