Crude Oil

Crude oil contracts closed in the negative territory on Friday, March 22, while remaining relatively stable throughout the week. The possibility of a ceasefire in Gaza weighed down crude oil prices, although a combination of factors, including the ongoing conflict in Ukraine and a decrease in U.S. oil rigs, helped mitigate the downward pressure on […]

On Thursday, crude oil prices experienced a downward trend as apprehensions mounted regarding the sluggish demand for gasoline in the United States. Additionally, reports indicating that the United States has presented a draft resolution to the United Nations (UN), urging Israel to cease fire in Gaza, further contributed to the decline in oil prices. WTI

Crude oil futures experienced a downturn on Thursday, March 20, as apprehensions regarding the future of oil demand weighed on the market. Concurrently, investors grappled with the aftermath of the US Federal Reserve (Fed) meeting, where interest rates were maintained as anticipated. WTI crude futures saw a decline of $1.79, marking a 2.14% decrease, settling

Crude oil futures rallied by more than 2% on Monday, March 18th, following reports of significant cuts in crude oil exports by Iraq and Saudi Arabia. The surge in oil prices was further fueled by indications of a recovery in demand and economic growth in China and the United States. West Texas Intermediate (WTI) crude

WTI crude oil prices experienced a rebound today, buoyed by robust economic data from China that exceeded analysts’ expectations. The positive data has sparked optimism among investors, who anticipate a potential surge in oil demand as the Chinese economy shows signs of recovery. WTI crude oil futures surged by 28 cents, or 0.35%, reaching $81.32

Crude oil contracts witnessed a decline in closure on Friday (March 15), attributed to profit-taking activities after prices surged beyond the $85 per barrel mark for the first time since November. Despite this, oil prices sustained an upward trajectory throughout the week, buoyed by heightened demand from US refineries post the completion of scheduled maintenance.

Crude oil futures soared to their highest levels in four months on Thursday (March 14) following the International Energy Agency’s (IEA) projection of a tighter global oil supply in the coming year, coupled with an upward revision in the forecast for oil demand expansion. WTI crude futures surged by $1.54, or 1.93%, closing at $81.26

Oil prices rallied significantly on Wednesday (March 13) in response to a notable decrease in crude oil and gasoline stocks in the United States. The decline in stockpiles signaled robust demand for U.S. oil, while geopolitical tensions in Ukraine further supported market sentiment. WTI crude futures surged by $2.16, or 2.8%, to settle at $79.72