Oil prices closed down 3% on Monday – but far from the day’s lows – after a slowdown in the world’s second-largest economy, China, raised fresh fears about global crude demand. Meanwhile, prospects for a revival of the Iran nuclear deal, which could lead to more global crude supplies, also contributed to losses for oil. […]
Tag: oil
Strong plunge of 4.5% in the price of oil after the ‘cold shower’ from China
Oil contracts are trading at heavy losses after the slowdown in the world’s second largest economy, China, raised new fears about global crude demand. In particular, his contract Brent October delivery is falling 4.65% or $4.8 with its price falling to $93.67 the barrel. The American one follows a similar course WTI which sees its […]
Strong plunge of 5% in the price of oil after the ‘cold shower’ from China
LAST UPDATE 15:30 Oil contracts are trading at heavy losses after the slowdown in the world’s second largest economy, China, raised new fears about global crude demand. In particular, his contract Brent October delivery is falling 5.12% or $5 with its price having fallen to $93.12 the barrel. The American one follows a similar course […]
Strong plunge of 4% in the price of oil after the ‘cold shower’ from China
LAST UPDATE 17.57 Oil contracts are trading at heavy losses after the slowdown in the world’s second largest economy, China, raised new fears about global crude demand. In particular, his contract Brent October delivery is falling 4.01% or $3.94 with its price having fallen to $94.25 the barrel. The American one follows a similar course […]
Oil Futures: Door Open to Further Weakness
Preliminary data from CME Group for crude oil futures markets indicates that traders added about 2,500 contracts to their open interest positions on Friday, marking the second consecutive daily increase. Volume, on the other hand, was noticeably down by around 245,300 contracts after three consecutive daily increases. WTI remains capped by the 200-day SMA Barrel […]
What is Venezuela asking to continue sending oil to Europe?
Venezuela has suspended crude oil shipments to Europe under its “oil-for-debt” program and has demanded fuel from Italy’s Eni and Spain’s Repsol in exchange for continuing to send cargoes to the Old Continent, three sources with knowledge of the subject. Venezuela’s state oil company PDVSA is no longer interested in the “oil-for-debt” program the State […]
Saudi Aramco: 90% jump in second quarter profits
Saudi Aramco reported a 90% jump in second-quarter profit on Sunday, beating analysts’ expectations, boosted by higher oil prices, volumes sold and refining margins. The company expects “oil demand to continue to grow for the rest of the decade, despite downward economic pressures in the near-term global forecast,” Aramco Chief Executive Amin Nasser said in […]
The tanker Lana is preparing to return to Iran
The Iranian tanker Lana will soon return to the country with its cargo of oil, months after it was seized off the Greek coast as part of a US crackdown on Iranian crude exports. Lana’s cargo is currently being transferred back to the ship, Iran’s embassy in Athens said in a tweet late Friday night, […]
Oil: Daily losses trimmed gains by around 3.8% for the week
Oil prices lost ground on Friday after reports that the supply disruption in the Gulf of Mexico was short-lived. However, on a weekly basis, WTI and Brent maintained significant gains as fears of a possible recession in the global economy receded. In particular, the slow type West Texas Intermediate for September delivery fell on Friday […]
USD/CAD Battles 200 DMA Following US PPI Slowdown
USD/CAD extended losses for the second day in a row as sellers look for a breakout of the 200 DMA. US July inflation reports show signs of peaking, with CPI at 9% y/y and PPI at 10% y/y, below their readings in the previous month. Traders’ attention shifts to the University of Michigan Consumer Sentiment […]
