Oil futures prices settled slightly lower on Friday after a survey showed deteriorating U.S. consumer sentiment, but prices rose 4% week over week as investors weighed forecasts for solid demand for crude oil and fuel in 2024. West Texas Intermediate (WTI) U.S. crude futures were down 17 cents closing at $78.54 per barrel. The U.S. […]

West Texas Intermediate (WTI) U.S. crude futures lost 79 per cents per barrel, or 1%, to close at $77.84 a barrel, reversing small gains in the previous session. Oil prices rallied after the Organization of Petroleum Exporting Countries (OPEC) stuck to a forecast for relatively strong growth in global oil demand for 2024 and Goldman […]

Oil pries were higher today as ongoing tensions in the Middle East lent support to prices. Meanwhile, investors were left disappointed after the Federal Reserve pushed out the start of rate cuts to perhaps as late as December, with officials projecting only a single quarter-percentage-point reduction for the year. “The market is holding its breath […]

Oil prices were higher today trading up as the EIA raised its global oil demand growth forecast. “We’re now at least considering the idea that maybe demand will pick up in the second half, and the market may actually need some additional OPEC+ supply,” said Tim Evans, an independent energy analyst. U.S. crude oil output […]

Oil prices closed higher on Monday to a one-week high, driven by expectations of increased summer fuel demand. Brent futures rose 2.5% to $81.63 up $2.01 per barrel, and U.S. West Texas Intermediate (WTI) crude climbed 2.9% to $77.74 up $2.21 per barrel, both reaching their highest close since May 30. Despite this optimism, there […]

Oil prices were lower today posting their third straight weekly loss as investors weighed OPEC+ reassurances against the latest US jobs data that lowered expectations of a looming Fed rate cut. “The jobs report indicated higher rates for longer,” said Andrew Lipow, president of Lipow Oil Associates. “That tends to dampen enthusiasm on the oil […]