Posts Tagged ‘WTI Crude oil’

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Optimism of Oil Traders to be Short-Lived

Oil traders have started the new week on an upbeat note. Investors are waiting for the meeting over the OPEC+ deal in Vienna on June 22nd. The Brent Crude Benchmark has come off the low of $75.50 per barrel and is trading above $74. Analysts suppose that the crude price will return to the Friday positions. This week, the OPEC member and non-member countries will hold a meeting, where they will discuss their […]

Russia and Saudi Arabia Ready to Get Things Under Control

Today, oil prices are trading under pressure amid speculation that the participants of the OPEC+ deal will decide to ramp up production of Crude Oil. Currently, Russia and Saudi Arabia hold negotiations aimed for taking control over stability in the oil market. But bearing in mind their intentions to get back to the previous output levels, investors expect that the meeting, that will take place in Vienna on the 22nd of June, will […]

Oil Market Trading in Positive Mood

Oil prices have barely changed since yesterday, as the positive mood prevails in the market. First of all, let us pay attention to the Light Sweet Crude Oil that is approaching the 13-day high. WTI is trading near the level of $67 per barrel. Experts say that the official report of the Energy Information Administration had a significant impact upon oil prices. The report showed that the stockpiles of Crude Oil in the United […]

Oil Trading — Prices Remain Mixed

The oil market is trading mixed today. The Brent Crude Benchmark is trading under pressure while WTI prices extend gains. The Brent Crude Oil made an attempt to break the level of $76 per barrel, but failed and is trading slightly below this level. The prices lack momentum as Russia plans to offer the OPEC members to return to the previous output levels and recover production. Meanwhile, the Light Sweet Crude Oil […]

Oil Traders in Gloomy Mood on Monday

Oil is trading under pressure today as traders are still discouraged with a weekly update from Baker Hughes, released on Friday. According to the Baker Hughes industry group, the number of oil rigs in the US increased to 862, the biggest number in the recent 3 years. This reading signals an ongoing trend of ramping domestic production of Crude Oil. Nevertheless, West Texas Intermediate remained unaffected since the close price of the last trading […]

Crude Upside Limited

Crude prices moved slightly higher on the news that commodity exports from Venezuela decreased. According to a reliable source, the country's oil company said they have difficulties in complying with some contracts on oil exports. Venezuela lags behind by a whole month from its shipment schedule. The Brent Benchmark returned to the session highs amid such news. The oil reached the resistance level of $76 per barrel. Still, experts point […]

Oil Gradually Recovering

The situation in the crude market attracted trading attention. Investors are awaiting the release of the official weekly oil inventory data in the United States from the Energy Information Administration. The WTI benchmark is trading at $65.30 per barrel today. Earlier, the crude price barely touched the mark of $66 on the back of the crude stockpiles report from the American Petroleum Institute. The data showed a decline of 2 million 28 thousand barrels in the US oil inventories […]

Oil Falling, But Commodity Currencies Resisting

Today, traders refrain from buying oil futures. As a result, crude is moving downwards. The Brent Crude Benchmark came off from $76 a barrel amid higher concerns over increased oil production by participants of the OPEC+ agreement. The official decision on the crude output freeze will be taken by the oil cartel on June 22nd in Vienna. The WTI Crude Benchmark is trading near $65.40 a barrel. Experts link the decline to the Friday […]

Oil Prices Trading Mixed

Some discord is seen today in the oil market. The commodity prices are trading mixed. The Brent Crude Benchmark is trading slightly below the level of $78 per barrel. The output of Crude Oil in Saudi Arabia fell by 5.2% last month. This news provided support to oil prices. Furthermore, the Energy Information Administration reported that the Crude Oil inventories in the United States decreased by 3 million 620 thousand barrels […]

Oil Prices Correct Movement While Ruble Gains Ground

Today, oil prices are consolidating near yesterday's levels, as investors are waiting for publication of the API report on Crude Oil inventories in the United States. The Brent Crude Benchmark is trading in the range of 75 to $75.60 per barrel on the back of news about readiness of the OPEC+ participants to ramp up the output. Meanwhile, the Shale Crude Oil is hovering near the $76 per barrel. Remarkably, the commodity currencies are also gaining ground […]