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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 Outlook: OPEC+ to phase out oil production cuts by the end of 2025

There seemed to be an increase in volatility for oil prices since last week’s report. In the current report, we intend to have a look at the state of the US oil market, the role of the USD in determining oil prices, the possible implications following OPEC+’s meeting on Sunday and the possible threat to oil…

ByPexecoJune 6, 20240Comments

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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 Outlook: OPEC+ to phase out oil production cuts by the end of 2025