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Oil rose on Thursday in volatile trading focused on Russian oil supply concerns

September 23, 2022
Recap: Oil rose on Thursday in volatile trading focused on Russian oil supply concerns and as the Bank of England hiked interest rates less than some had expected. Russian President Putin’s strong rhetoric pushed the oil market higher early in the session, but this economically t ... Read More
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The EIA reported the third weekly rise in U.S. crude supplies

September 22, 2022
Recap: Oil futures fell on Wednesday after the EIA reported the third weekly rise in U.S. crude supplies and on expectations that the U.S. Federal Reserve will once again raise interest rates that may slow demand for energy.  Prices gave up early gains from the possibility of an ... Read More
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The U.S. Recently Announced it Would Sell Up to 10 Million Barrels for Delivery in November

September 21, 2022
Recap:  Oil futures fell on Tuesday, as traders geared up for the Tuesday/Wednesday U.S. Federal Reserve meeting, where another rate hike is expected. Traders were also concerned about sale from the U.S. Strategic Petroleum Reserve. The U.S has recently announced that it would se ... Read More
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Global Demand Could Slow Due to a Strong U.S. Dollar and Possible Large Increases to Interest Rates

September 20, 2022
Recap:  Oil prices held steady in volatile trading on Monday, as traders balanced worries about tight supplies with fears that global demand could slow due to a strong U.S. dollar and possible large increases to interest rates. Recession woes continue to put pressure on commod ... Read More
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Concern Over Tight Supplies was Outweighed by Escalating Fear of Sharp Interest Rate Hikes

September 19, 2022
Recap:  Oil prices dipped in early trade on Friday, extending the week's losses as concern over tight supply was outweighed by escalating fear of sharp interest rate hikes slamming global growth and hitting fuel demand. The market was also rattled this week by the International E ... Read More
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Oil Futures Declined on Thursday, with U.S. Prices Settling at Their Lowest in a Week

September 16, 2022
Recap: Oil futures declined on Thursday, with U.S. prices settling at their lowest in a week. Oil fundamentals are still mostly bearish as China's demand outlook remains a big question mark and as the inflation fighting seems poised to weaken the U.S. economy. October WTI crude f ... Read More
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Biden Administration May Consider Refilling the Nation's Strategic Petroleum Reserve

September 15, 2022
Recap: Oil futures settled higher on Wednesday, buoyed in part by a report from Bloomberg Tuesday that said the Biden administration may consider refilling the nation's Strategic Petroleum Reserve when crude prices dip below $80 a barrel. Also adding to the rise in prices was a s ... Read More
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The Oil Market Posted an Outside Trading Day After the Market Traded Lower

September 14, 2022
Recap:  On Tuesday, the oil market posted an outside trading day after the market traded lower, reversing its earlier gains as U.S. consumer prices unexpectedly increased in August. The oil market breached its previous high of $89.10 and posted a high of $89.31 early in the morni ... Read More
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Oil Futures Extend Gains as Commodity Prices Rise Amid a Weakening of the Dollar

September 13, 2022
Recap: Oil futures extend gains as commodity prices rise amid a weakening of the dollar. WTI crude is up 2.6% to $89.10 a barrel. Concerns about global demand remain as central banks slam the breaks to cool inflation, while investors watch for possible OPEC+ production cuts. Whil ... Read More
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Sentiment is Being Supported by News that the IEA has Upgraded its Global Oil Demand Outlook

September 12, 2022
Recap:  Oil prices traded higher on Friday after rebounding from earlier losses. Sentiment is being supported by news that the IEA has upgraded its global oil demand outlook for the next two quarters as electricity suppliers, particularly in Europe, could now switch to oil-based ... Read More
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