Crude oil prices closed yesterday (Dec. 20) down $2.63. News from governments and the IEA apparently have market participants fearing that the Omicron strain will affect oil demand. Memories of the beginning of the pandemic in 2020 are still in the heads of investors who are now cautiously sorting through the various news. WTI crude …
Crude Oil Prices Fell by Over $2 On Signs of Oversupply Read More »
WTI oil prices fell from $70 per barrel this morning. Market participants remain concerned that the spread of the COVID-19 virus Omicron will affect global oil consumption. WTI crude futures fell 94 cents, or 1.34% at $69.36 a barrel.BRENT crude futures fell 79 cents, or 1.08%, at $72.19 a barrel. WTI oil prices have come …
Crude oil futures are closing lower on Friday (Dec. 17) as concerns about the spread of the Omicron coronavirus (COVID-19) continue to circulate in the market. WTI crude futures fell 2.1% to close at $70.86 a barrel. Brent crude futures fell 2% to close at $73.52 a barrel. Here, the IEA has issued a warning …
The IEA reported today that increases in energy consumption in China, India and the United States could push demand for coal-fired power plants to record levels this year. In turn, this will undermine efforts to reduce greenhouse gas emissions. Global coal-fired power generation will increase by 9% to 10,350 terawatt-hours in 2021 due to the …
IEA Reports New Highs for Coal-fired Electricity Read More »
Crude oil futures closed more than $1 higher Thursday (Dec. 16) on strong demand in the U.S. and lower oil inventories. WTI crude futures were up $1.51 to close at $72.38 a barrel. Brent crude futures were up $1.14 to close at $75.02 a barrel. According to the EIA, oil demand in the United States …
Crude Oil Rises by Over $1 – Demand Supports Markets Read More »
The euro is gaining against the dollar and the yen after the European Central Bank (ECB) decided at its meeting yesterday to maintain the key interest rate and reduce the volume of bond purchases. The euro against the dollar was 0.51% higher to $1.134. The euro against the yen rebounded 0.6% to 129.44 yen. The …
Euro Gained after ECB Maintains Interest Rates and Reduces Bond Purchases Read More »
Crude oil futures closed higher overnight (Dec. 15) after U.S. crude oil inventories fell more than expected last week. This indicates that US oil demand remains strong. WTI crude futures were up 14 cents, or 0.2%, at $70.87 a barrel. BRENT crude futures were up 18 cents, or 0.2%, at $73.88 a barrel. Both crude …
The dollar rose in Asian trading this morning (Dec. 15) as investors waited for the Federal Reserve meeting to determine whether it would support rising market expectations for a rate hike early next year. The dollar index against the six major currencies in a basket of currencies was 96.557, with a 0.5% gain this week. …
Crude oil futures fell overnight (Dec. 14) after the IEA warned in a report that the spread of the Covid-19 Omicron strain will impact oil demand. WTI crude futures were down 56 cents, or 0.8%, at $70.73 a barrel. BRENT crude futures were down 69 cents, or 0.9%, at $73.70 a barrel. Both crude oil …
IEA Alerts to “Omicron” Impact on Global Oil Demand Read More »
Producer price inflation data came in higher than expected again today putting further pressure on the Federal Reserve to tighten monetary policy at its meeting this week. U.S. producer prices rose to 9.6% year-on-year in November. The PPI rose by 0.8% MoM.Core PPI rose 0.7% in November MoM and 7.7% YoY. This confirms last Friday’s …
Higher Than Expected PPI Underscores Fed Concerns Read More »