Global Macro Overview for 06/04/2016 (Crude Oil) The American Petroleum Institute reported yesterday a decrease in the US oil inventories by the level of -4300K. This number was way below the market expectations of 2900K, which would be another increase from 2600K a week ago...
Oil Rebounds from 5-Week Low, WTI Jumps +2.5% Oil benchmarks on both sides of Atlantic extend the recovery mode from multi-week lows on Wednesday, on mounting expectations of out freeze and drawdown in crude reserves...
Can WTI End Its Biggest Consecutive Daily Decline Since 2009? North American benchmark, West Texas Intermediate (WTI) is up today and trying to end its biggest consecutive daily decline since 2009...
Brent Oil Stays Near One-Month Low on Falling US Demand Brent prices trade at lowest since March 4 as investors worry about fading prospects of OPEC and non-OPEC output freeze and fresh signs of falling US demand. At the time of writing, Brent oil was trading 10 cents or 0...
Oil in Global Economy Series: Saudi Arabia Bleeds Reserve Amid Lower Oil Saudi Arabia’s pains are visibly on the rise as the economy facing threats of downgrades, if it fails to check on its ballooning fiscal deficit, which is projected to be 15-16% of GDP this year...
WTI Gains Still Capped Above $37.00 The barrel of West Texas Intermediate keeps the initial negative tone unchanged on Monday, fading another bullish attempt to the key $37.00 handle. WTI up on US weakness Crude oil prices keep the narrow trading range today, finding support around $36...
Brent: Pressure on the Price Continues Weekly data released by the US Department of Energy last Wednesday showed the rise in the US oil reserves; which together with statement by Saudi crown prince Mohammend bin Salman, caused the decline in the price of crude oil Brent on Friday against the rise...
Brent: Oil Prices Go Down Qatar’s Minister of oil Mohammed bin Saleh al Sada said that 12 countries confirmed their participation in the upcoming meeting, devoted to freezing of oil production. The meeting will be held on 17 April in Doha...
Global Macro Overview for 04/04/2016 Global macro overview for 04/04/2016: (Crude Oil) Oil has been in decline once again overnight as on Friday, traders continue responding to reports that Saudi Arabia may not be willing to take part in the price freeze without all other major producers, both OP...
It Seems Oil Has Bottomed Out in the Mid-$20.00s – Rabobank According to Strategist at Rabobank Christian Lawrence, the barrel of crude oil could have bottomed in recent lows in the mid-$20.00s...
Oil Drops on Falling Prospect of Output Freeze Production cut was never a possibility according to markets, but even a production freeze strategy appears a distant dream now owing to which both oil benchmarks dropped on Friday and extended losses today...
Iran’s Oil Exports Jump Ahead of Producers’ Freeze Talks - WSJ As reported by WSJ on Monday, Iran’s oil minister on Sunday noted that the country’s oil exports jumped again in March, potentially undermining a global deal to limit crude output and raise prices...
Oil Drops Amid Risk-off in Equities Oil benchmarks fell in Asia and remain weak in early Europe amid signs of risk aversion in the Asian equities. At the time of writing, WTI oil was down almost 1% at $38/barrel. Brent oil was down 0.67% at $40.06/barrel...
Oil Eases in Asia, Brent Flirts with $ 40 Oil benchmarks on both sides of Atlantic resumed their broader downtrend after a brief stint to the upside seen on Thursday, as a stronger US dollar weighed on the black gold...
Brent: Pressure on the Price will Continue The data released by the US Department of Energy yesterday showed that oil reserves in the USA amounted to 2.299 million barrels last week. The rise was below expectation of +3.167 barrels. However, the reserves have reached 80-year high...
Oil Drops to 2-Week Lows on Rising US Crude Reserves Oil benchmarks on both sides of Atlantic prolongs its downward trajectory for the seventh straight session this Thursday, hitting fresh two-week lows on omnipresent supply glut concerns...
WTI Eyes $40.00 on EIA Report The barrel of West Texas Intermediate is advancing further on Wednesday, currently up more than 3% and posting daily highs near $39.80. WTI up post-EIA report Prices for the barrel of American light sweet crude have ticked higher after inventories have increased by 2...
Oil Rebounds in Asia, EIA Inventory Report Eyed Oil benchmarks on both sides of Atlantic posed a minor rebound in the Asian trades, bringing a halt to the five consecutive sessions of declines...
Brent: The Price can Go Below the Level of 41.50 The price of crude oil Brent failed to overcome resistance level of 41.50, which was mentioned in our previous review of 23.03.2016 “the rise can be continued in case of breakdown of the levels of 41.50 and 42...
