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Oil Futures Posted a Weekly Loss

November 14, 2022
Recap:  After posting daily declines for most of the week, oil prices spiked on Friday on news that China had eased some of its COVID restrictions. Despite the early session spike, oil futures posted a weekly loss, unable to recover from three consecutive days of declines. Indeed ... Read More

Inflation in the U.S. Last Month Was Lower Than Expected

November 11, 2022
Recap:  Oil futures erased early gains on Thursday, moving higher after the U.S. Bureau of Labor Statistics released data for October showing that inflation in the U.S. last month was lower than expected.  Over the last 12 months, the CPI increased by 7.7% before seasonal adjustm ... Read More

Oil Futures Fell for the Third Straight Day on Wednesday

November 10, 2022
Recap:  Oil futures fell for the third straight day on Wednesday after a weekly EIA report showed a large increase in commercial crude oil inventories that was mostly due to more government sales of crude oil from the nation’s strategic reserves to the private sector. A week-on-w ... Read More

Crude Oil Prices Fell on Tuesday on Growing Concerns about Demand for Fuel

November 9, 2022
Recap:  Crude oil prices fell on Tuesday on growing concerns about demand for fuel as COVID-19 outbreaks worsened in China, and as the U.S. await the outcome of its Midterm elections. The rising number of COVID-19 cases in China leave market participants guessing as to whether or ... Read More

Oil Futures Turned Lower on Monday

November 8, 2022
Recap:  Oil futures turned lower on Monday, paring earlier gains after rising to more than a two month high, on mixed signals over strict COVID-19 restrictions in China, the world’s largest importer of crude oil. There have been mixed signals about China's reopening. Both WTI and ... Read More

Crude Prices Were on the Rise Early Friday Morning

November 7, 2022
Recap:  Crude oil prices were on the rise early on Friday morning on continuing fears that the oil markets remain tight with the G7 agreeing on a fixed price capping mechanism on Russian crude. WTI rose more than 5 cents, as the Strategic Petroleum Reserve releases have neared th ... Read More

Oil Futures Fell on Thursday, Retreating From a Three-Week High

November 4, 2022
Recap:  Oil futures fell on Thursday, retreating from a three-week high, weighed down by weak Chinese economic data and a stronger U.S. dollar, dimming the outlook for demand growth. Economic weakness in China raises concerns about demand growth in the world’s largest importer of ... Read More

The Energy Information Administration Reported Weekly Declines in U.S. Crude Oil and Gasoline Inventories

November 3, 2022
Recap:  Oil futures jumped on Wednesday, with WTI topping $90 a barrel. Prices gained support after the Energy Information Administration reported weekly declines in U.S. crude oil and gasoline inventories, and as recent reports said Iran may be preparing an attack on Saudi Arabi ... Read More

The Market Retraced its Previous Losses on the Prospect of Disruptions

November 2, 2022
Recap:  The oil market on Tuesday traded higher on a Wall Street Journal report stating that Saudi Arabia shared intelligence with the U.S. warning of an imminent attack from Iran on targets in the kingdom. The market opened about 10 cents lower and posted a low of $85.92 before ... Read More

Oil Futures Fell on Monday on Expectations that U.S. Production Could Rise

November 1, 2022
Recap:  Oil futures fell on Monday on expectations that U.S. production could rise even as weaker economic data out of China and the country’s widening COVID-19 curbs weighed on demand. Oil output in the United States climbed to nearly 12 million barrels per day in August, the hi ... Read More
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