SlavkoSereda/iStock via Getty Images Crude oil futures climbed for a second straight session Thursday, as a tamer than expected U.S. inflation reading is seen raising the chances of a September interest rate cut by the Fed. The U.S. government reported the consumer price index declined 0.1% in June, falling forContinue Reading
SlavkoSereda/iStock via Getty Images U.S. crude oil broke a three-session losing streak as government data showed signs of strengthening demand for refined products after the Fourth of July holiday. The holiday provided an expected increase in demand for jet fuel, with the four-week seasonal average rising to the best levelContinue Reading
SlavkoSereda/iStock via Getty Images Crude oil futures settle lower on the day while notching a fourth straight weekly increase, helped by a much larger than expected drop in U.S. crude inventories, renewed hopes that the U.S. Federal Reserve might start cutting interest rates soon, and heightened geopolitical risks in theContinue Reading
Gulf Resources (NASDAQ:GURE) +11.6% pre-market Wednesday after agreeing to acquire 1,270 acres of crude salt fields in China in a series of deals totaling more than 280M renminbi (~$38.6M) in cash and stock. Gulf Resources (GURE) said the acquisition of the crude salt fields may enable it to open bromineContinue Reading
SlavkoSereda/iStock via Getty Images Crude oil futures gave up early gains to finish lower Tuesday, as concerns over potential supply disruptions from Hurricane Beryl eased during the session. U.S. crude had climbed on Monday, as traders believed Beryl might have a wider impact on offshore oil production areas in theContinue Reading
imaginima/E+ via Getty Images The American Petroleum Institute reportedly shows a draw of 9.16M barrels of oil in U.S. commercial stockpiles for the week ending June 28. Gasoline inventories reportedly show a build of 2.47M barrels for the week, distillate inventories show a draw of 740K barrels, and stockpiles atContinue Reading
SlavkoSereda/iStock via Getty Images Crude oil futures climbed ~2% to two-month highs Monday in anticipation of rising demand in the Northern Hemisphere’s summer driving season and worries that conflict in the Middle East could spread and reduce global oil supplies. A drone attack from Hezbollah injured 18 Israeli soldiers onContinue Reading
SlavkoSereda/iStock via Getty Images Crude oil futures closed the week and the month with gains as expectations rose for summer demand to continue the rally. Oil had tumbled to multi-month lows early in June when OPEC+ said it would start unwinding production cuts after September, then rallied on forecasts ofContinue Reading
SlavkoSereda/iStock via Getty Images Crude oil futures tilted lower Tuesday after ending the previous session at nearly two-month highs, as the oil market awaits the weekly U.S. inventories report for indications of demand for crude and gasoline ahead of the July 4 holiday weekend. Claudio Galimberti, director of global marketContinue Reading
imaginima/E+ via Getty Images The American Petroleum Institute reportedly shows a surprise build of 914K barrels of oil in U.S. commercial stockpiles for the week ending June 21. Gasoline inventories reportedly show a build of 3.84M barrels for the week, distillate inventories show a draw of 1.18M barrels, and stockpilesContinue Reading
