Petroleum Daily Report 5-15-2025

Crude oil prices fell sharply on Thursday as renewed optimism around a potential U.S.-Iran nuclear agreement raised the prospect of increased Iranian oil exports, adding bearish pressure to an already uncertain market. Brent crude futures dropped $1.56, or 2.36%, to settle at $64.53 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.53, or […]

Petroleum Daily Report 5-14-2025

Crude oil prices retreated on Wednesday, snapping a two-day rally, as government data revealed an unexpected rise in U.S. crude inventories, reigniting concerns about oversupply. Brent crude futures fell 54 cents, or about 0.81%, to settle at $66.09 a barrel, while U.S. West Texas Intermediate (WTI) crude slid 52 cents, or 0.82%, to finish at […]

Petroleum Daily Report 5-13-2025

Crude oil futures jumped more than $1.60 per barrel on Tuesday, bolstered by a combination of easing U.S.-China trade tensions and unexpectedly mild inflation data in the U.S., which together improved the market’s risk appetite. Brent crude settled at $66.63 per barrel, gaining $1.67, or 2.57%, while U.S. West Texas Intermediate (WTI) crude climbed $1.72, […]

Petroleum Daily Report 5-12-2025

Oil prices climbed about 1.5% on Monday to reach a two-week high, supported by renewed optimism over a potential resolution to the U.S.-China trade conflict. Brent crude futures settled up $1.05, or 1.6%, at $64.96 per barrel, while U.S. West Texas Intermediate (WTI) crude rose 93 cents, or 1.5%, to close at $61.95. Both benchmarks […]

Petroleum Daily Report 5-9-2025

Oil prices ended nearly 2% higher on Friday, logging their first weekly gain since mid-April as optimism over a new U.S.-UK trade deal and anticipation of U.S.-China trade talks lifted investor sentiment. Brent crude futures rose $1.07, or 1.7%, to settle at $63.91 a barrel, while U.S. West Texas Intermediate (WTI) crude futures gained $1.11, […]

Petroleum Daily Report 5-8-2025

Oil prices rebounded on Thursday, rising around 3%, as optimism over upcoming trade talks between the United States and China—the world’s top two oil consumers—buoyed market sentiment. Brent crude futures settled up $1.72, or 2.8%, at $62.84 a barrel, while U.S. West Texas Intermediate (WTI) crude climbed $1.84, or 3.2%, to close at $59.91. The […]

Petroleum Daily Report 5-7-2025

Oil prices extended losses on Wednesday, continuing their slide from earlier in the week as concerns about oversupply and weakened demand weighed heavily on the market. U.S. crude oil futures settled at $58.07 per barrel, down $1.02 or 1.73%, while Brent crude futures settled at $61.12 per barrel, a decrease of $1.03 or 1.66%. Both […]

Petroleum Daily Report 5-6-2025

Oil prices climbed around 4% on Tuesday, rebounding from a sharp selloff the previous day as signs of stronger demand from Europe and China, rising geopolitical tensions in the Middle East, and bargain buying supported the market. Brent crude futures rose $2.37, or 3.9%, to settle at $62.60 a barrel, while U.S. West Texas Intermediate […]

Petroleum Daily Report 5-5-2025

Oil prices fell by more than $1 a barrel on Monday, settling at multi-year lows, as OPEC+’s decision to accelerate output hikes stoked concerns about rising global supply amid an uncertain demand outlook. Brent crude futures settled at $60.23 a barrel, down $1.06, or 1.7%, while U.S. West Texas Intermediate (WTI) crude ended at $57.13 […]

Petroleum Daily Report 5-2-2025

Oil prices ended the week lower on Friday, capping their biggest weekly declines since late March as investors remained cautious ahead of a key OPEC+ meeting expected to shape the group’s production policy for June. West Texas Intermediate (WTI) crude fell 95 cents, or 1.6%, to close at $58.29 per barrel, while Brent crude lost […]