Oil prices rose today to five week highs as OPEC+ agreed to cut production by 2MM/bpd, its deepest cuts since the onset of Covid-19.

Oil prices rallied today, buoyed by the prospect of OPEC+ considering reducing output further. Oil prices have been declining for four straight months since June and reports are that OPEC+ is considering cutting output by 1MM/bpd.

Oil prices rallied today, buoyed by the prospect of OPEC+ considering reducing output further

Oil prices fell $2 per barrel on Monday, settling at nine-month lows primarily due to a strong U.S. dollar.

Oil prices plunged today, down to 8 month lows as the USD traded to the highest level in more than 20 years.

Oil prices were higher today but paired some gains later in the day.

Oil prices fell today in a volatile session as the Federal Reserve hiked interest rates by another 75bps

Oil prices dropped again today on the back of a strong dollar and Fed interest-rate hikes designed to quell inflation

Oil prices closed higher today as OPEC+ failed to hit its own production target by 3.53 million barrels per day for August.

Oil prices rose slightly today but remained down week over week headed into next week’s meeting of the Federal Reserve with the dollar already strong.