Crude oil jumped on the release of weekly EIA inventory data on Wednesday, but two-way news flow as IEA cut demand forecasts kept the bullish market in consolidation.
Crude oil price technical positioning hints a top may be taking shape. A monthly report from the IEA and official inventory flow data line up as potential catalysts.
Gold prices are torn between conflicting forces while crude oil is eyeing a monthly IEA report with interest after a blockbuster set of US inventory flow figures.
U.S. shale oil production is expected to jump over the next five years, pilfering market share from OPEC producers and putting the U.S. one step closer towards self sufficiency, according to the International Energy Agency. […]
U.S. shale oil output is set to surge over the next five years stealing market share from OPEC producers and moving the United States, once the world’s top oil importer, closer to self sufficiency, the […]
Oil prices rebounded from earlier losses after Brent hit a two-month low, as investors attempted to capitalize on recent declines in benchmark contracts that came from renewed worries about oversupply. The market earlier dropped after […]
Crude oil futures were steady Tuesday, but unable to recoup recent losses. Analysts point to a surge in U.S. shale oil production as the cause of oil’s retreat from 4-year highs above $66. WTI light […]
Crude oil futures were slightly lower Tuesday morning amid speculation that U.S. production will continue to rise. OPEC is cutting supplies, but non-OPEC output, particularly from the U.S. shale fields, is set to exceed global […]
Crude oil prices saw an intraday bounce undone by forecasts for faster US output growth. A monthly report from the IEA and API inventory data may bring more of the same.
Crude oil prices rebounded Thursday amid signs that OPEC is complying with supply quotas. The cartel is trying to reb-balance oil markets by curbing production, but U.S. drillers are picking up the slack for now. […]