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The Market Attempted to Retrace Some of its Previous Losses Before it Continued on its Fourth Consecutive Down Day

May 24, 2024
Recap:  The oil market on Thursday posted an outside trading day as the market attempted to retrace some of its previous losses before it continued on its fourth consecutive down day. The market remained pressured as the minutes of the Federal Reserve’s last policy meeting showed ... Read More
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Expectations that the Federal Reserve Will Not Rush to Cut Interest Rates Due to Sustained Inflation

May 23, 2024
Recap:  The oil market continued on its downward path for the third consecutive session on Wednesday on expectations that the Federal Reserve will not rush to cut interest rates due to sustained inflation. Fed policymakers have stated that the central bank should wait several mor ... Read More
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The Oil Market Traded Lower on Tuesday Ahead of the June Contract's Expiration at the Close

May 22, 2024
Recap:  The oil market traded lower on Tuesday ahead of the June contract’s expiration at the close. The market continued to trade below its downward trending resistance line as the market remained concerned that U.S. interest rates could remain higher for longer. Fed officials r ... Read More
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A Federal Reserve Official Suggested That Inflation Data Was Not Enough to Lower Interest Rates

May 21, 2024
Recap:  The oil market on Monday traded lower following three consecutive days of gains, after a Federal Reserve official suggested that inflation data was not enough to lower interest rates. The Fed’s vice-chair for supervision said U.S. inflation data through the first four mon ... Read More
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Recent Economic Indicators from the United States Have Increased the Optimism Over Global Demand

May 20, 2024
Recap:  The crude market continued to trade higher on Friday as economic indicators from the U.S. and China increased hopes for higher demand. Recent economic indicators from the United States have increased the optimism over global demand, with U.S. consumer prices increasing le ... Read More
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Increased Expectations that the Federal Reserve May Start Cutting Interest Rates in the Fall

May 17, 2024
Recap:  The oil market traded higher on Thursday in follow through strength seen on Wednesday in light of slower than expected inflation data, which increased expectations that the Federal Reserve may start cutting interest rates in the fall. The market was further supported by a ... Read More
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The Market Weighed a Forecast for Weaker Global Oil Demand Growth From the IEA Against Supportive U.S. Economic Data and Storage Data

May 16, 2024
Recap:  The oil market traded higher on Wednesday as the market weighed a forecast for weaker global oil demand growth from the IEA against supportive U.S. economic data and storage data. The market traded sideways in overnight trading as it traded to $78.75 before it continued i ... Read More
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U.S. Data Suggested Inflation Remained High Early in the Second Quarter

May 15, 2024
Recap:  The oil market traded lower on Tuesday after U.S. data suggested inflation remained high early in the second quarter, while OPEC maintained its demand forecast at 2.25 million bpd for the year. Ahead of the release of the Producer Price Index data, the market was trading ... Read More
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Expectations That the Federal Reserve Will Keep Rates Higher for Longer Due to Persistent Inflationary Pressures

May 14, 2024
Recap:  The crude market on Monday traded higher after the market continued to trade lower in overnight trading in follow through selling seen on Friday on expectations that the Federal Reserve will keep rates higher for longer due to persistent inflationary pressures. The market ... Read More
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Indications that Interest Rates May Remain High for a Longer Period of Time Than the Market Has Been Expecting

May 13, 2024
Recap:  The oil market on Friday posted an outside trading day as it traded off an early high on indications that interest rates may remain high for a longer period of time than the market has been expecting. However, the market still managed to post a weekly gain of 0.19%, which ... Read More
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