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Oil Futures Turned Lower on Thursday on Higher U.S. Gasoline Stockpiles

July 22, 2022
Recap:  Oil futures turned lower on Thursday on higher U.S. gasoline stockpiles and after a European Central Bank rate hike stoked demand concerns, while returning oil supply from Libya and the resumption of Russia’s gas flow to Europe eased supply woes. Trading volume in crude o ... Read More

Oil Futures Bounced a Bit on Wednesday but Turned to the Downside

July 21, 2022
Recap:  Oil futures bounced a bit on Wednesday but turned to the downside after a mixed weekly EIA report. Fostering the up move was the unexpected decline in both U.S. crude oil and distillate inventories. However, traders appeared more focused on the 3.5 million barrel build in ... Read More

The Market Focus was More on Tight Supplies and a Weak U.S. Dollar than Fears of an Economic Slowdown

July 20, 2022
Recap: Oil futures traded higher on Tuesday, to trade at their highest level in two weeks as the market focus was more on tight supplies and a weak U.S. dollar than fears of an economic slowdown, which would mean weaker demand. Oil prices have whipsawed, supported by supply fears ... Read More

Oil Futures Came Roaring Back on Monday, Adding to Last Week's Come Back

July 19, 2022
Recap:  Oil futures came roaring back on Monday, adding to last week’s come back, as continued physical tightness overshadowed thoughts of demand destruction and as the U.S. dollar weakened. Market commentators also cited concerns about gas supply from Russia to Europe as boostin ... Read More

U.S. Official Told Reuters that an Immediate Saudi Oil Output Boost was not Expected

July 18, 2022
Recap:  Oil futures ended the session up 2.5% on Friday after a U.S. official told Reuters that an immediate Saudi oil output boost was not expected, and as investors question whether OPEC has the room to significantly ramp up crude production. Oil prices that fell sharply earlie ... Read More

The Potential for a Large U.S. Rate Hike Pummeled Crude Oil Prices

July 15, 2022
Recap:  The potential for a large U.S. rate hike pummeled crude oil prices to their level since the Russian invasion of Ukraine. Both contracts hit lows on Thursday which were below the Feb. 23 close, the day before Russia invaded Ukraine, with Brent reaching its lowest since Feb ... Read More

Oil Prices Erased Earlier Declines, Jumping to Fresh Session Highs

July 14, 2022
Recap:  Oil prices erased earlier declines, jumping to fresh session highs after a weekly EIA report seen as bearish, although another large release of government reserves of crude-oil played a key role. The EIA says inventories of the 4 main categories -- crude-oil, gasoline, di ... Read More

Fears about a Recession Weighed on Stocks, Oil, and Bond Yields

July 13, 2022
Recap: Crude prices extended earlier losses as Covid-19 cases and lockdowns in China continued to raise concerns about demand for oil. Fears about a recession on the horizon also weighed on stocks, oil and bond yields, continuing a volatile stretch for global markets. For now, th ... Read More

Crude Oil Prices Tumbled More Than 4% on Monday

July 12, 2022
Recap:  Crude oil prices tumbled more than 4% on Monday as fears of a recession accelerated after Russia cut off natural gas supply to parts of Europe via the Nordstream 1 pipeline for 10 days to carry out maintenance and as Shanghai reported a rise in the number of COVID cases. ... Read More

Oil Futures Rose in Volatile Trade on Friday

July 11, 2022
Recap:  Oil futures rose in volatile trade on Friday, as concern over a potential recession-driven demand downturn outweighed tight global supplies. Central banks are raising interest rates to tame inflation, spurring fears that rising borrowing costs could stifle growth, while m ... Read More
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