crude oil

The Latest

  • U.S. Crude Oil Dips Below $85 as Market Discounts Risk of Wider Israel-Iran Conflict
    US OIL
    U.S. crude oil prices fell for the third consecutive trading session on Wednesday, dipping below $85 a barrel as the market appeared to dismiss the risk of a wider war between Israel and Iran that could potentially disrupt supplies.
  • U.S. Crude Oil Breaks $95 Barrier: Is $100 Next?
    OIL
    U.S. benchmark crude oil prices have touched $95 per barrel for the first time in over a year. This comes on the heels of a significant inventory drop in Cushing, the primary delivery point for U.S. oil, highlighting the widening global supply gap.
  • Brent Crude Nears $95, Poised for Biggest Quarterly Surge Since Russia-Ukraine Conflict
    FILE PHOTO: FILE PHOTO: A sticker reads crude oil on the side of a storage tank in the Permian Basin
    As global oil consumption remains robust and OPEC+ members cut production to deplete reserves, oil prices are soaring.
  • U.S. Crude Oil Stocks Surge Unexpectedly, Production Hits Highest Since 2020, Imports at Four-Year Peak
    Equipment used to process carbon dioxide, crude oil and water is seen at an Occidental Petroleum Corp enhanced oil recovery project in Hobbs
    The U.S. Energy Information Administration (EIA) released its weekly inventory report on Wednesday, revealing unexpected significant increases in U.S. crude oil, gasoline, and refined oil stocks. Crude oil production reached its highest level since March 2020, and crude oil imports surged to levels not seen since August 2019.
  • Record Weekly Plunge in US Crude Oil Inventories Ignites Market, Fueling Hopes for Multi-month Highs
     U.S. Crude oil storage tanks
    Following last Tuesday's Eastern time trading, the American Petroleum Institute (API) announced that U.S. crude oil inventories had plummeted by 15.4 million barrels over the previous week. This marked the largest weekly drop on record, far surpassing analysts' expected decrease of 1.3 million barrels.
  • Crude Oil Approaches April Highs as Inventory Narratives Unfold Amid Tightening Supply
    Crude Oil
    Amid OPEC+ nations' production cuts leading to tightening crude oil supply, Brent Crude prices have been on a steady uptick, recently breaking the $85 per barrel mark and accumulating a rise of over $10 since the start of the month, nearing its April peak.
  • Crude Oil Plummets Over 4% as Saudi Arabia Cuts Production and Iran Deal Looms: U.S. Close to Agreement on Iranian Oil Exports
    Equipment used to process carbon dioxide, crude oil and water is seen at an Occidental Petroleum Corp enhanced oil recovery project in Hobbs
    Saudi Arabia cuts production and Iran disrupts! Crude oil drops over 4% during trading, the U.S. is reportedly close to reaching a temporary agreement on Iranian oil exports.
  • Oil Continues Price Hike Amid China's Laxing COVID Restrictions, Key Pipeline Shut
    OIL PRICE HIKE
    TC Energy Corp's Keystone Pipeline has remained shut since a 14,000-barrel leak in the U.S. state of Kansas reported on Dec. 7
  • Asia, Europe Traders Rush Toward Middle East Oil Amid Looming Ban On Russian Exports
    HIGHER PRICES
    At least five refiners and traders in Asia have agreed to either boost or maintain their crude supplies from the Middle East for 2023.
  • Oil Prices Dip Amid China Lockdowns And Strategic Reserve Release
    OIL PRICE HIKE
    The decrease in demand in China and the planned release of oil reserves have caused oil prices to dip for the second straight week.
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