Prices were volatile today as early reports from the WSJ indicated OPEC+ was planning an output hike of 500K/bbls. Initial trading led prices to 10-month lows, down more than $5/bbl. Saudi Arabia quickly came out and denied the report which led to prices decreasing later in the session Releasing more oil amid weak Chinese fuel […]
Oil prices tanked today with mounting Covid cases in China and fears of aggressive rate hikes in the US
China reported rising daily covid infections and Chinese refiners have asked to reduce Saudi crude volume in December
Oil prices traded down today after shipments to Hungary restarted via the Druzhba pipeline
Oil prices were higher today as US PPI came in a lot lower than expected
Oil prices were lower today, settling down as the US dollar traded higher and some Chinese cities reported record Covid rates
Oil prices rose on Friday, up $2.49 cents per barrel to close at $88.96 per barrel on the back of China relaxing COVID travel restrictions and signaling that their economy would soon return to normal. Brent traded up US$2.32 cents per barrel to close at US $95.99 per barrel. Gasoline closed up $4.3 cents per […]
Oil prices rose today after a few days of declines buoyed by better-than-expected inflation numbers that lifted financial markets across the board. The CPI came in at 7.7%, which despite being relatively high is an improvement from the last few months. This number could signal a softening to come from the world’s central banks. “(Consumer […]
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Oil prices slid on Tuesday on China demand worries and the U.S. midterm elections.