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Oil Futures Turned Lower, Dropping to a 12-Week Low

July 7, 2022
Recap: After a brief rebound, oil futures turned lower, dropping to a 12-week low and adding to losses seen on Tuesday. This is a clear indication that traders are concerned about the possibility of a recession and has recent reports clearly allude to a slowdown in gasoline deman ... Read More

Oil Futures Fell Sharply on Tuesday to a Level Not Seen Since April

July 6, 2022
Recap:  Oil futures fell sharply on Tuesday to a level not seen since April, as fears of a global slowdown took over commodity markets while investors expect US energy production to climb and as the U.S. dollar gained strength. Analysts expect the Supreme Court's recent decision ... Read More

Crude Oil Prices Rose as Much as 3% on Friday

July 5, 2022
Recap:  In early morning trading, crude oil prices rose as much as 3% on Friday, recouping the previous session's declines, as supply outages in Libya and expected shutdowns in Norway outweighed expectations that an economic slowdown could dent demand. Libya declared force majeur ... Read More

The Oil Market Continued on its Upward Trend Early in the Session

June 30, 2022
Recap:  Early on Wednesday, the oil market continued on its upward trend early in the session. The market retraced more than 62% of its move from a high of $120.88 to a low of $101.53 as it posted a high of $114.05 by mid-morning. The market traded to its high as the EIA’s weekly ... Read More

WTI Futures Continued to Rebound from their Lowest Level in Almost Seven Weeks

June 29, 2022
Recap: WTI futures continued to rebound from their lowest level in almost seven weeks, ending Tuesday’s session 2% higher, as the global supply picture remains bleak and demand seems to be holding up relatively well. A G7 meeting highlighted concerns among top leaders that crude ... Read More

Oil Futures Ended Higher for the Second Straight Session on Monday

June 28, 2022
Recap: Oil futures ended higher for the second straight session on Monday as better-than-expected U.S. economic data quelled concerns over a potential slowdown in energy demand. Traders were also focused on talks between members of the Group of Seven nations on additional moves a ... Read More

Oil Futures Rose by More Than $4.00 a Barrel on Friday Before Paring Gains

June 27, 2022
Recap: Oil futures rose by more than $4.00 a barrel on Friday before paring gains, supported by tight supplies but limited to the upside by concern that rising interest rates could push the world economy into recession. Crude has gained support from the almost total shutdown of o ... Read More

Investors Weighed the Risk that Rising U.S. Interest Rates Could Triggers a Recession and Cut Demand for Fuel

June 24, 2022
Recap: At one point during the trading session, oil prices fell by more than $3 a barrel on Thursday in volatile trading as investors weighed the risk that rising U.S. interest rates could trigger a recession and cut demand for fuel. Federal Reserve chief Jerome Powell said the c ... Read More

Renewed Fears of a Recession Helped Fuel the Sell-Off

June 23, 2022
Recap: Oil futures fell on Wednesday, with WTI settling at its lowest level in approximately six weeks. Rising demand concerns, the prospect of a U.S. gasoline tax holiday, and renewed fears of a recession helped fuel the sell-off. WTI tumbled early in the session, with the Augus ... Read More

Oil Prices Climbed on High Summer Fuel Demand While Supplies Remained Tight

June 22, 2022
Recap:  Oil futures climbed Tuesday, with U.S. prices recouping a portion of the more than 9% loss last week. Oil prices climbed on high summer fuel demand while supplies remained tight because of sanctions on Russian oil after its invasion of Ukraine. Despite concerns over econo ... Read More
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