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Oil Futures Were Widely Mixed, With U.S. Oil Futures Ending Little Changed

September 7, 2022
Recap:  Oil futures were widely mixed, with U.S. oil futures ending little changed on Tuesday, as U.S. traders, who were off for a the U.S. Labor Day holiday, reacted to a decision by OPEC+ to reduce production by 100,000 barrels per day in October. This decision reversed Septemb ... Read More
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Traders Squared Positions Ahead of the Long U.S. Labor Day Weekend

September 6, 2022
Recap:  Crude oil futures jumped on Friday as traders squared positions ahead of the long U.S. Labor Day weekend and Monday’s OPEC+ meeting at which members are expected to discuss production cuts. Oil futures also extended gains after the Group of Seven finance ministers agreed ... Read More
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Supply Has Been Slowly Increasing, Largely Due to the U.S. Shale Boom

September 2, 2022
Recap:  Crude oil futures fell by more than 3% on Thursday, as thoughts of a global economic slowdown instilled demand fear in traders. Western demand for oil, as well as demand from China, has been stagnant, while supply has been slowly increasing, largely due to the U.S shale b ... Read More
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The Headline Number to the EIA's Weekly Inventory Report Show a Bullish 3.3 Million Barrel Drop in U.S. Crude Oil Supplies

September 1, 2022
Recap:  Oil futures fell for the second straight session, down 7.7% over the past two sessions, the largest two-day drop in nearly two months. The headline number to the EIA’s weekly inventory report show a bullish 3.3 million barrel drop in U.S. crude oil supplies, but investors ... Read More
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Crude's Tight Market Has Outweighed Worries in Recent Days That a Global Recession Could Slow Demand

August 31, 2022
Recap:  Oil tumbled after Iraq’s state marketing company said exports haven’t been affected by violent clashes in Baghdad while low liquidity exacerbated price moves. West Texas Intermediate fell as much as 6.7% to trade around $91 a barrel as risk-off sentiment brought down most ... Read More
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Prices Up More Than 4% to Settle at Their Highest in a Month

August 30, 2022
Recap:  Oil futures rallied on Monday, with U.S. prices up more than 4% to settle at their highest in a month. Prices got a boost given rising risks of a potential civil war that could put Libyan output at risk and growing expectations that OPEC+ is positioning themselves to cut ... Read More
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Oil Futures Continued to Struggle for Direction on Friday

August 29, 2022
Recap:  Oil futures continued to struggle for direction on Friday, bouncing between gains and losses, as investors wait to hear more news about a potential nuclear deal with Iran and the possibility of OPEC+ production cuts, amid conflicting U.S. economic data and remarks by Fed ... Read More
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Thursday Proved to be Another Choppy Day for Crude Oil Futures

August 26, 2022
Recap:  Thursday proved to be another choppy day for crude oil futures, as prices bounced between gains and losses. Investors initially took OPEC's talk this week of production cuts as a bullish sign that the group will do whatever it takes to keep prices elevated. But some trade ... Read More
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Prices Bounced Between Gains and Losses After the Weekly EIA Report Showed a Drop in U.S. Crude Oil Inventories

August 25, 2022
Recap:  Trading in oil futures on Wednesday was extremely choppy, as prices bounced between gains and losses after the weekly EIA report showed a drop in U.S. crude oil inventories but a bearish drop in gasoline demand. Crude oil inventories fell 3.3 million barrels, much more th ... Read More
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Oil Prices Jumped on Tuesday After the Saudi Energy Minister Said OPEC and its Allies Could Cut Production

August 24, 2022
Recap: Oil prices jumped on Tuesday after the Saudi Energy minister said OPEC and its allies could cut production amid “harmful volatility” in the market. Prince Abdulaziz bin Salman told Bloomberg that OPEC+ has the "commitment, the flexibility and the means" within its agreemen ... Read More
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