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Oil Prices Drop as Ceasefire Hopes Rise Amid Israel-Hamas Conflict

Ceasefire hopes have risen following Israel's recent acceptance of a US bridging proposal. Hamas, however, has yet to do the same. Oil prices dropped close to their lowest levels in 2024 on Tuesday morning, following increased hopes of a ceasefire in the Israel-Hamas war. Brent crude oil prices inched down 1.03% to $76.8 per barrel…

ByPexecoAugust 20, 20240Comments

Commodities News

Crude Oil Prices Rebound as Demand Rises Amid Middle East Tensions

Crude oil prices saw a sharp rebound after hitting a six-month low on Wednesday. Rising demand and ongoing conflict in the Middle East are driving the price increase. The oil markets rebounded sharply on Wednesday, with the Brent futures at the Intercontinental Exchange rising 2.42% to $78.33 per barrel, and WTI futures at the New…

ByPexecoAugust 8, 20240Comments

Commodities

What To Watch in Oil Markets in the Second Half of the Year

KEY TAKEWAYS A decision by OPEC+ to possibly boost production sooner than expected and diverging demand forecasts could hold oil prices down in the second half of the year. The U.S. Energy Information Administration recently lowered projections for Brent crude oil prices this year. The International Energy Agency also cut its demand forecast. For consumers,…

ByPexecoJuly 6, 20240Comments

Commodities

Oil Prices Steady Amid US Market Slack and Middle East Tensions

Oil prices seem to have stabilised somewhat since last report, in a sign of hesitation on behalf of oil bulls to advance further. In today’s report we are to have a look at the data relating to the US oil market, and continue to view the fundamentals surrounding the international oil market. To conclude the report…

ByPexecoJuly 3, 20240Comments

Commodities

Oil Bullish Sentiment Prevails Despite Bearish US Signals

Oil prices continued to be on the rise since last report, and the bullish sentiment for the commodity seems to remain present. In today’s report we are to have a look at the data relating to the US oil market, and continue to view the fundamentals surrounding the international oil prices. To conclude the report we…

ByPexecoJune 20, 20240Comments

Commodities

Oil Market Analysis: Are Oil Bulls Taking a Breather?

Oil prices seemed to be on the rise since last report, yet oil bulls seem also to be taking a break over the past 24 hours. Hence today in the report we are to have a look at the data relating to the US oil market, the Fed’s interest rate decision and a wider look at…

ByPexecoJune 14, 20240Comments

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Oil Prices Drop as Ceasefire Hopes Rise Amid Israel-Hamas Conflict

Crude Oil Prices Rebound as Demand Rises Amid Middle East Tensions

What To Watch in Oil Markets in the Second Half of the Year

Oil Prices Steady Amid US Market Slack and Middle East Tensions

Oil Bullish Sentiment Prevails Despite Bearish US Signals

Oil Market Analysis: Are Oil Bulls Taking a Breather?