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The EIA reported a 2.4 million barrel build in U.S. crude oil inventories
September 26, 2019
Recap: Oil prices fell on Wednesday after the EIA reported a 2.4 million barrel build in U.S. crude oil inventories. Analysts had expected a decline of 190,000 barrels. November WTI, which was already trading $1.74, or 3% lower on the day, slipped an additional 36 cents to hit a ...
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Iranian President Hassan Rouhani said he was open to discuss small changes to the 2015 nuclear deal if the U.S. lifted sanctions on his country
September 25, 2019
Recap: Oil prices declined on Tuesday after U.S. consumer confidence fell to 125.1 in September and after Iranian President Hassan Rouhani said he was open to discuss small changes to the 2015 nuclear deal if the U.S. lifted sanctions on his country. Also contributing to the slip ...
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Oil prices finished higher on Monday
September 24, 2019
Recap: Oil prices finished higher on Monday, as tensions in the Middle East overshadowed the restoration of output from Saudi Arabia, which was lost due to attacks over a week ago that damaged its oil facilities. This geopolitical risk pushed November WTI to a session high of $59 ...
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The market was supported amid reports that Saudi Aramco switched crude grades and delayed crude and oil product deliveries to customers
September 23, 2019
Recap: The crude market looked ready to post an inside trading day on Friday as it remained supported amid the concerns over supply and the escalating Middle East tensions. However, the market gave up its gains and breached its previous low ahead of the October crude contract’s ...
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Oil market closed slightly higher as Saudi Arabia continues to restore oil operations
September 20, 2019
Recap: On Thursday, the oil market rallied higher but ended the session relatively unchanged as the market attempts to gauge when Saudi Arabia’s oil operations will return to normal following the weekend attacks on the country’s oil infrastructure. The market was well supported ...
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Saudi Arabia has already restored 50% of lost production since the drone attack on Saturday
September 19, 2019
Recap: Oil prices pulled back for the second straight session on Wednesday as traders reacted to reports that Saudi Arabia had already restored 50% of lost production since the drone attack on Saturday, and that full production was expected to be restored by the end of September. ...
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Oil prices fell as much as 7% on Tuesday
September 18, 2019
Recap: Oil prices fell as much as 7% on Tuesday, following a report that output at Saudi Arabia’s major crude facility, which was hit by a drone attack over the weekend, could resume within weeks, much quicker than originally expected. WTI for October delivery slipped to a low of ...
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A weekend drone attack damaged 2 of Saudi Arabia’s state owned oil facilities
September 17, 2019
Recap: Oil prices spiked on Monday after a weekend drone attack damaged 2 of Saudi Arabia’s state owned oil facilities which account for nearly 10 million barrels of the country’s crude oil production. October WTI gained as much as $8.53, or 15.5%, to trade at a session high of $ ...
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WTI and Brent posted sizable weekly falls
September 16, 2019
Recap: Oil futures finished lower on Friday, with both WTI and Brent posting sizable weekly falls as worries about a slowing global economy amidst the prospect of rising inventories overshadowed hints of progress in the U.S. - China trade dispute. October WTI fell 24 cents, or 0. ...
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A meeting of OPEC and its allies ended without deeper cuts in output
September 13, 2019
Recap: Oil prices ended lower on Thursday, marking the third straight selloff, as a meeting of OPEC and its allies ended without deeper cuts in output, but with a pledge to “clean up compliance” in an effort to lower output by several hundred thousand barrels per day over the nex ...
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