- ReutersOil Slips for Fourth Day on Europe Demand Concern, IEA Report
LONDON (Reuters) – Oil slipped for a fourth day on Wednesday as concerns about weaker demand in Europe outweighed an industry report that showed U.S. crude inventories unexpectedly fell last week.
- ReutersOil Drops Amid Rising Stockpiles and COVID-19 Demand Concerns
LONDON (Reuters) – Oil prices dropped on Tuesday, extending declines to three consecutive days, as rising stockpiles in the United States added to the risks to a demand recovery after countries including Germany and France halted COVID-19 vaccinations.
- ReutersU.S. Becomes India’s Second Biggest Oil Supplier, Saudi Plunges to No. 4
NEW DELHI (Reuters) – The United States overtook Saudi Arabia as India’s second biggest oil supplier last month, as refiners boosted cheaper U.S. crude purchases to record levels to offset OPEC+ supply cuts, data from trade sources showed.
- ReutersOPEC Expects Most of 2021 Oil Demand Recovery in Second Half
LONDON (Reuters) – OPEC said on Thursday a recovery in oil demand will be focused on the second half of the year as the impact of the pandemic lingers as a headwind for the group and its allies in supporting the market.
- James HyerczykCommodity Market Wrap-Up: WTI Crude Breaches $50 for First Time in 11 Months
February natural gas futures gain on improving demand outlook. February gold underpinned by growing concerns about COVID-19, Georgia runoff elections.
- James HyerczykWeekly Commodities Recap: Firm Greenback Weighs on Demand for Dollar-Denominated Gold, Crude Oil
Gold climbed to a six-week high last Monday, driven by news that U.S. congressional leaders reached agreement on a COVID-19 aid package.
- Cyril WiddershovenWorld’s Largest Oil Company Aramco Shows Dire State of Sector
Saudi’s national oil company Saudi Aramco (Aramco) has reported a rather negative financial result for Q3 2020. In its report, the Saudi behemoth stated that its profit in Q3 2020 decreased by 44.6% to Riyal 44.21 billion ($11.79 billion), a steep decline in comparison to the Riyal 79.84 billion ($21.29
- Cyril WiddershovenTanker Sector Rollercoaster Looking at Scrapping to Bring Long-Term Profits
Even that current global oil demand is hit by the severe impacts of COVID and the resulting demand destruction, global tanker markets could be looking at a possible rate hikes soon.
- Cyril WiddershovenOil Market Optimism to be Hit by Q2 Financials IOCs?
Bullish sentiment is still leading in the market, especially if media reports are being taken as the Oracle of Delphi. The last days crude oil futures have shown a bullish tendency, supported the last 24 hours by an unexpected draw in US crude stocks.
- Dan BlystoneMarket Cycles : An Interview with Andrew Pancholi
Andrew Pancholi is one of the world’s leading experts on market cycles and the author of the highly acclaimed Market Timing Report. In addition, Andrew is a consultant for institutional investors, hedge funds and major banks. He is a board member for The Foundation For Study Of Cycles (FSC), which
- Ole HansenCommodity Weekly: Crude Oil Frets Geopolitics, Sluggish Demand Bounce
Commodities trading was mixed during the final week of May. A month that turned out to be the come-back month for many markets following the Covid-19 related collapse seen during Q1.
- Craig ErlamUS Open – Waking From a Stimulus Induced Dream – Oil, Gold and BTC in Focus
Europe is playing a little catchup in early trade on Thursday while the US is heading for a flat open as investors prepare for choppy waters ahead.
- James HyerczykWTI Crude Spikes into Close Following Bullish Bloomberg Report on OPEC Production Cut Expectations
U.S. crude oil stockpiles spiked higher while fuel demand slumped last week, each by their most ever, government data showed on Wednesday, as the U.S. oil industry felt the full brunt of efforts to stem the spread of the coronavirus pandemic.
- James HyerczykEnergy Recap: OPEC Leaves Traders Guessing, Setting Up Volatile Move on Friday
Reuters reported that oil producers led by Saudi Arabia and Russia reached a deal in principle on Thursday to cut output by an extra 500,000 barrels a day in the first quarter of 2020 but stopped short of pledging action beyond March.
- Andria PichidiPalladium: Completely Reverse The Rumors for a Bubble Burst
During the first quarter of 2019, spot palladium was seen tumbling by more than 17% from record highs at $1,609.85, with the main catalyst of this drift possibly being the closing of positions as the end of the month and the end of the quarter (i.e. end of the contract) came.