Oil drops to 12-wk low on recession, COVID-19 worries
By Scott DiSavino NEW YORK (Reuters) -Oil prices dropped to a 12-week low in volatile trade on Wednesday, extending Tuesday's heavy losses as growing fears of demand destruction from a...
Buy
or
Brent Oil News & Analysis
-
-
U.S. Stocks Wobble as Investors Await Fed Minutes from June
By Liz Moyer Investing.com -- U.S. stocks wobbled on Wednesday as investors awaited the minutes from the Federal Reserve’s latest policy meeting in June, which could reveal its thoughts for...
-
Crude Oil Higher; Rebounding on Supply Tightness
By Peter Nurse Investing.com -- Oil prices rose Wednesday, bouncing after the previous session’s heavy losses as traders renewed their focus on supply tightness despite worries over...
-
Dow Futures Down 40 Pts; Caution Ahead of Fed Minutes
By Peter Nurse Investing.com -- U.S. stocks are seen opening marginally lower Wednesday, amid a degree of caution ahead of the release of the minutes from the latest Federal Reserve...
-
Fed Minutes, Johnson Jeopardy, Amazon Grubhub Stake - What's Moving Markets
By Geoffrey Smith Investing.com -- The Federal Reserve releases the minutes of its last meeting, while New York Fed President John Williams will provide more up-to-date commentary on the...
-
European Stocks Higher; Improving German Factory Orders Help Sentiment
By Peter Nurse Investing.com - European stock markets traded higher Wednesday, rebounding strongly with investors seeking bargains after the previous session’s slump on increasing recession...
-
European Stock Futures Higher; German Factory Orders Rise
By Peter Nurse Investing.com - European stock markets are expected to open higher Wednesday, regaining some poise after the previous session’s slump on increasing recession fears. At 02:00...
-
Oil Up as Supply Concerns Grow amid Recession Worries
By Zhang Mengying Investing.com – Oil was up on Wednesday morning in Asia, as investors shifted their focuses to supply tightness although recession worries mounted. Brent oil futures rose...
-
Japan official says the G7 will be discussing the Russian oil price
@page { size: 21cm 29.7cm; margin: 2cm } p { line-height: 115%; margin-bottom: 0.25cm; background: transparent } Japan Deputy Chief Cabinet Secretary Kihara: actual price cap figure for...
-
Oil claws back after heavy selloff as supply concerns return
By Arathy Somasekhar (Reuters) – Crude oil futures rose nearly 3% on Wednesday as investors piled back in after the heavy rout in the previous session, shifting their focus again to...
-
Oil price plunge - 2 reasons why "any further downside in the market to be fairly limited"
ING with a pithy summary of oil supply woes, commenting in wake of the big plunge in price on Tuesday: The oil market remains tight and given the expectation that Russian oil...
-
Austria Plans To Power Industry With Oil Instead Of Gas
Austria's energy minister said it intends to order industry and utilities to switch from using natural gas as it looks to stockpile more natural gas to help insulate it from being cut off...
-
Goldman Sachs says oil has overshot, global deficit remains unresolved
Tuesday saw a huge drop for the oil price. Too far says Goldman Sachs. Citing the global supply deficit still remaining unresolved. Headline via news wires. GS have a point. This article...
-
Brent to fall to $65 on recession
This from Bloomberg, citing analysts at Citi. In a recession scenario, Brent crude oil prices could fall back down to $65/bbl on their way to the bottom of the cost curve by...
-
OPEC Secretary General: The Oil And Gas Industry Is Under Siege
The oil and gas industry is "under siege" OPEC Secretary General Mohammad Barkindo said on Tuesday. After years of underinvestment on a global scale, the oil and gas industry is now "facing...
-
Russian court orders halt on CPC's Black Sea oil loadings for a month
Russian court order: The Caspian Pipeline Consortium has been ordered to halt Black Sea oil loadings for 30 days Due to violations of a spill-prevention plan. Info via...
-
Why Oil Prices Crashed By 10% Today
Crude oil prices fell by nearly 7% on Tuesday as fears of a recession mount—a scenario that could put a dent in oil demand. The plummeting price action comes as Saudi Arabia announced a...
-
US oil futures have popped back above $100
I don't know if anyone had some fun with this one from last week: Oil technical analysis - daily chart prints a reversal candle - unleash the bear? There were two comments on that...
-
Oil And Gas Stocks Provide A Glimmer Of Light In A Dark Market
Oil and gas companies have emerged as the only bright spot in a deeply bearish U.S. stock market, thanks to soaring commodity prices fuelled by the war in Ukraine. The S&P 500 ended H1 2022...
-
Russia To Hit Gazprom With $20 Billion Windfall Tax
Russia’s lower house of parliament approved on Tuesday amendments in the country’s tax code that would slap a windfall tax on Gazprom of the equivalent of $20 billion between September and...
-
Exxon profit set to soar again; White House wants more oil
Wall Street analysts sharply increased their Exxon Mobil Corp (XOM.N) second-quarter profit estimates on Tuesday, after the largest U.S. oil producer projected it could almost double its...
-
Europe Gas: Prices rise on weaker supply from Russia, Norwegian strikes
Dutch and British wholesale gas prices rose on Tuesday morning as flows from Russia dipped and strikes at Norwegian oil and gas infrastructure added to concerns over supply. The Dutch...
-
Saudi Arabia sets Aug crude prices to Asia at near-record high – sources
Saudi Arabia, the world’s top oil exporter, raised August crude oil prices for Asian buyers to near record levels amid tight supply and robust demand. The official selling price (OSP) for...
-
Russia’s Medvedev says oil could top $300-$400 if Japan’s price cap idea implemented
Russia’s former president Dmitry Medvedev said on Tuesday a reported proposal from Japan to cap the price of Russian oil at around half its current level would lead to significantly less oil...
-
High U.S. gasoline prices weigh on demand as consumers start to feel the pinch, says analyst
Surging gasoline prices in the U.S. are showing signs of impact on consumption, according to one risk analyst. “We’re starting to see some signs of demand destruction, particularly for...
-
Norwegian oil and gas workers start strike, cutting output
Norwegian offshore workers on Tuesday began a strike that will reduce oil and gas output, the union leading the industrial action told Reuters. The strike, in which workers are demanding...
-
Iran’s daily refining capacity exceeds 2.2m barrels: OPEC
Iran’s refining capacity has increased by more than 480,000 bpd from 2011 to 2021, according to OPEC’s Annual Statistical Bulletin. Iran’s refining capacity in 2011 was reported to be 1.715...
-
Schlumberger, Baker Hughes, Halliburton to exit Kurdish contracts: Iraq’s oil ministry
Schlumberger, Baker Hughes and Halliburton are in the process of liquidating and exiting existing tenders and contracts in Iraq’s semi-autonomous Kurdistan region to be in compliance with a...
-
Is This The Most Promising Oil Discovery Hotspot On Earth?
ExxonMobil’s slew of major oil discoveries in offshore Guyana since 2015 has seen the deeply impoverished former British colony become a hotspot for offshore drilling activity. That has...
-
Colombia’s Shale Oil Industry Is Increasingly Unappealing For Investors
A lack of major oil discoveries and meager proven reserves of 2 billion barrels saw Colombia look to hydraulic fracturing as a means of securing the future of its economically crucial...
-
Commodities Corner: Recession worries pull U.S. oil prices below $100, but ‘bleak’ supply picture suggests a bargain
Concerns about a recession and a drop in energy demand led to a drop in U.S. benchmark West Texas Intermediate crude-oil prices below the $100 -a-barrel mark on Tuesday for the first time in...
-
Fears of Waning Demand in a Recession Weigh on Oil ETFs
Oil-related exchange traded funds plunged on Tuesday, with crude prices dipping below $100 per barrel, as recession fears fueled concerns that an economic slowdown will sap demand. On...
-
Oil futures settle sharply lower, with U.S. prices below $100 a barrel
Oil futures fell sharply on Tuesday, with U.S. prices below the $100-a-barrel mark - at their lowest in more than two months, pressured by strength in the U.S. dollar and concerns over a...
-
U.S. Stocks Open Lower as Recession Fears Return After Holiday Break
By Liz Moyer Investing.com -- U.S. stocks opened lower on Tuesday after the long holiday weekend as investors renewed their fears about a looming recession. At 9:43 AM ET the Dow Jones...
-
Crude Oil Lower on Recession Fears; Citi Sees $65/Bbl Oil
By Peter Nurse Investing.com -- Oil prices retreated Tuesday, weighed by concerns of a global economic slowdown, although further supply disruptions means the market remains tight. By...
-
Oil Prices Could Fall to $60s by End of 2022 if Recession Unfolds - Citi
By Senad Karaahmetovic Citi strategist Francesco Martoccia is projecting a substantial pullback in oil prices in case recession fears come to fruition. The strategist took note of...
-
European Stocks Drop; Economic Activity Concerns Weigh
By Peter Nurse Investing.com - European stock markets edged lower Tuesday, with concerns about the region’s economic recovery diluting the positive start to the new month. By 04:20 AM ET...
-
European Stock Futures Higher; Central Banks Communication in Focus
By Peter Nurse Investing.com - European stock markets are expected to open higher Tuesday, continuing the positive start to the new month with investors focusing on guidance from a number...
-
Oil Up as Strike in Norway Disrupts Oil and Gas Output
By Zhang Mengying Investing.com – Oil was up on Tuesday morning in Asia over supply tightness concerns as a strike in Norway threatened to disrupt oil and gas output. Brent oil futures rose...
-
The West Rushes To Curb Russian Oil Revenue Without Increasing Prices
The United States, the EU, and G7 are already shunning and banning Russia’s oil in the wake of the Russian invasion of Ukraine. But the West has failed to limit the most significant...
-
Is Saudi Arabia Exaggerating Its Oil Production Potential?
For many years now, Saudi Arabia has been wildly exaggerating every metric connected to its oil business, from how much crude it can produce to its level of reserves and everything in...
-
India Will Not Lift Windfall Tax On Oil Firms Until Crude Drops By $40
India’s windfall tax on oil companies and refiners, introduced last week, could stay for a very long time, as the government plans to withdraw it only when oil prices drop by $40 per barrel...
-
Big Oil’s Boardroom Battles Subside As Climate Activism Loses Steam
Last year proved to be a watershed moment for oil and gas companies in the global transition to clean energy, with Big Oil facing a series of boardroom and courtroom battles against hardline...
-
Germany Considers Allowing Bailouts For Energy Firms
Germany is considering amending its energy security law to allow the government to take stakes in struggling energy firms or impose levies on consumers, Reuters reported on Monday, citing...
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures), cryptocurrencies, and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn't bear any responsibility for any trading losses you might incur as a result of using this data. Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
