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The Market Was Well Supported as Some Oil Tankers Were Diverting From the Red Sea

January 16, 2024
Recap:  The oil market on Friday breached its recent trading range as it rallied sharply higher. The market was well supported as some oil tankers were diverting from the Red Sea following overnight air and sea strikes by the U.S. and Britain on Houthi targets in Yemen. The escal ... Read More
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The Market Was Well Supported By News That Iran Seized a Tanker Off the Coast of Oman

January 12, 2024
Recap:  The oil market on Thursday continued to trade within Monday’s trading range for the third consecutive session as it retraced Wednesday’s losses on escalating tensions in the Middle East. The market was well supported by news that Iran seized a tanker off the coast of Oman ... Read More
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Yemen's Houthis Launched Their Largest Missile and Drone Attack to Date on Ships in the Red Sea

January 11, 2024
Recap:  The oil market on Wednesday continued to trade within Monday’s trading range as it erased its earlier gains and sold off following an unexpected build in crude stocks. The crude market erased some of Tuesday’s gains in overnight trading before it bounced higher ahead of t ... Read More
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Concerns Over Tensions in the Middle East and the Reduced Libyan Output

January 10, 2024
Recap:  The oil market posted an inside trading day on Tuesday following Monday’s sharp selloff that was prompted by Saudi Arabia’s signal that it aimed to remain competitive in the market with its cut to its official crude selling prices. The market continued to weigh softer mar ... Read More
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The Oil Market Sold Off Sharply on Monday on Price Cuts By Saudi Arabia

January 9, 2024
Recap:  The oil market sold off sharply on Monday on price cuts by Saudi Arabia, the latest sign that fundamentals are worsening. It offset supply concerns generated by escalating geopolitical tension in the Middle East. The crude market was pressured after Saudi Aramco on Sunday ... Read More
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The Market Ended the First Week of the Year Higher After Retracing Thursday's Losses

January 8, 2024
Recap:  On Friday, the crude market continued to trend higher on concerns over escalating tensions in the Middle East and disruptions to global supply. The market ended the first week of the year higher after retracing Thursday’s losses that were triggered by the larger than expe ... Read More
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The Market Continued to Trend Higher Amid the Concerns Over Escalating Tensions in the Middle East

January 5, 2024
Recap:  The oil market ended the session lower on Thursday on larger than expected builds in product stocks. Earlier in the session, the market continued to trend higher amid the concerns over escalating tensions in the Middle East following the explosions in Iran that killed nea ... Read More
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The Market Continued to Trend Lower in Overnight Trading Despite a Rise in Tensions in the Middle East

January 4, 2024
Recap:  The oil market retraced its earlier losses and ended the session higher on Wednesday after posting an outside trading day on Tuesday and ending lower. The market continued to trend lower in overnight trading despite a rise in tensions in the Middle East. The market traded ... Read More
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On Its Final Trading Day of the Year, the Oil Market Ended the Session Down 0.17%

January 2, 2024
Recap:  On its final trading day of the year, the oil market ended the session down 0.17%. It also ended the week 2.6% lower and about 10.7% lower on the year, posting its largest one year decline since year end 2020. In overnight trading, the crude market breached Thursday’s low ... Read More
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Oil Market Retraces Gains Amid Easing Red Sea Shipping Concerns

December 29, 2023
Recap: The oil market fell on Thursday as concerns over shipping disruptions along the Red Sea route eased. According to a shipping schedule, Denmark's Maersk will route almost all container vessels sailing between Asia and Europe through the Suez Canal from now on while divertin ... Read More
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