Are oil prices set for a comeback?

In recent weeks, oil prices have given up on any gains they’ve made since Russia’s invasion of Ukraine, as market fears of a recession mounted. There are signs of slowing economic growth, which could affect oil demand. But oil market participants and analysts are struggling to estimate how much demand could suffer in a recession … Read more

Falling petrol prices keep inflation under control

The U.S. Consumer Price Index (CPI) saw no real change in July, suggesting inflation is declining as a result of falling gasoline prices, according to the latest Bureau of Labor Statistics data released Wednesday. Overall, the CPI tracking gasoline prices fell 7.7%, while other indices, including food, rose. Used vehicles and airline tickets declined along … Read more

Oil price drops to multi-month low due to recession fears; Less than $100 per dollar

Oil falls amid recession fears, slow recovery of imports from China Oil prices fell on Monday and remained near their multi-month low as recession fears hurt demand prospects and data pointed to a slow recovery of Chinese crude oil imports last month. Brent oil futures fell 74 cents, or 0.8 percent, to $94.18 a barrel. … Read more

Dodgy question data? The Conspiracy of the Oil Price Collapse

WTI crude oil prices fell to their lowest point since early February on Thursday, abandoning virtually all gains since Russia invaded Ukraine. WTI crude for September delivery fell -1.5% to close at $89.26/barrel, while Brent crude for October delivery fell -2.1% to $94.71 /barrel. WTI crude has lost ~9.5% over the course of the week, … Read more

Fear of recession grips oil markets

Oil prices are back to where they were before Russia invaded Ukraine, suggesting that a global recession and the destruction of demand are now the central focus of traders. Oilprice Alert: This month’s Intelligent Investor column, now available to Global Energy Alert members, compares two of the most promising Canadian oil stocks on the market. … Read more

Saudi Arabia and UAE will not tap emergency oil capacity

By Julianne Geiger – Aug 4, 2022, 10:00 AM CDT Sources: Saudi Arabia and the United Arab Emirates are poised to deliver a “significant increase” in crude oil production if the market faces a severe supply crisis this winter. Combined, OPEC members have between 2 million bpd and 2.7 million bpd of spare … Read more

Oil could drop to $90 if inflation continues

The price of crude oil could drop to $90 a barrel if the economies of the world’s two largest consumers continue to struggle with growth, the chairman of Bharat Petroleum told the Economic Times. ‚ÄúPrices could reach $90 in two months if the US continues with inflation and low growth and China is unable to … Read more

Oil dips amid renewed demand problems

Oil prices fell 4% in early August as the market digested weak economic data from China, the world’s largest importer of crude oil. As of Monday, 10:12 a.m. ET, WTI Crude prices fell 4.49% to $94.22. WTI Crude started declining in August, following its first consecutive monthly losses in June and July since late 2020. … Read more