Wednesday, July 9, 2025
Goldman Sachs expects Brent oil to average $76 per barrel in 2025- oil and gas 360

Goldman Sachs expects Brent oil to average $76 per barrel in 2025

(Oil Price) – Brent Crude oil prices are set to average $76 per barrel next year, down from an expected average of $80 a barrel in 2024, amid an expected surplus on the market, according to Goldman Sachs.   “Our base case is that Brent stays in a $70-85 range, with high spare capacity limiting price upside, and the price elasticity of

Oil steady as Ukraine escalation offsets US crude, gasoline stock build- oil and gas 360

Oil steady as Ukraine escalation offsets US crude, gasoline stock build

(Investing) – HOUSTON- Oil prices were steady on Wednesday as the escalating war between major oil producer Russia and Ukraine offset a rise in U.S. crude and gasoline stocks. Brent crude futures for January were down 4 cents, or 0.05%, at $73.27 a barrel by 10:43 a.m. EDT (1543 GMT). U.S. West Texas Intermediate crude futures for December, due to expire on Wednesday,

Oil prices on track for weekly loss as Chinese demand wanes- oil and gas 360

Oil prices on track for weekly loss as Chinese demand wanes

(Investing) – HOUSTON  – Oil prices slipped on Friday and were bound for a weekly loss as investors digested waning Chinese demand and a possible slowing of the U.S. Federal Reserve’s interest rate cut path. Brent crude futures dropped 71 cents, or 0.98%, to $71.85 a barrel by 10:32 a.m. EDT. U.S. West Texas Intermediate crude futures were down 72 cents, or

Oil prices rebound 1% after dollar-related sharp declines- oil and gas 360

Oil prices rebound 1% after dollar-related sharp declines

(Investing) – LONDON – Oil prices rose about 1% on Thursday, paring some of the sharp declines seen earlier this week due to a stronger U.S. dollar and worries about rising supply amid slow demand growth. Brent crude futures were up 70 cents to $72.98 a barrel at 1401 GMT. U.S. West Texas Intermediate crude futures were up 68 cents to $69.11.

Middle East turmoil remains a major factor in driving oil prices- oil and gas 360

Middle East turmoil remains a major factor in driving oil prices

(Oil Price) – Oil markets have kicked off the new week on the back foot, with oil prices sliding after a disappointing Chinese stimulus while traders continue to digest news of Trump winning a second term in the White House. Whereas China’s top legislative body approved a $1.4T package to help local governments swap some of their mounting debts off their

Oil slips towards 2-week low on gloomy demand outlook- oil and gas 360

Oil slips towards 2-week low on gloomy demand outlook

(Investing) – Oil prices slipped on Wednesday, trading near their lowest in two weeks, a day after OPEC lowered global oil demand growth forecasts for 2024 and 2025 and amid demand concerns in China. OPEC cited weakness in China, India, and other regions for its decision, which marked the producer group’s fourth straight downward revision for 2024. Brent futures were 65 cents,

WTI breaks below $70 as demand concerns drive bearish sentiment- oil and gas 360

WTI breaks below $70 as demand concerns drive bearish sentiment

(Oil Price) – West Texas Intermediate broke below $70 per barrel on Monday as Hurricane Rafael weakened to a storm that is unlikely to cause any damage to U.S. oil production in the Gulf of Mexico. Separately, oil benchmarks got depressed by trader pessimism about Chinese oil demand after the country’s ruling party announced its latest stimulus package, which underwhelmed, according to Reuters. At

Oil rises as investors take stock of Trump victory, US crude stocks rise- oil and gas 360

Oil rises as investors take stock of Trump victory, US crude stocks rise

(Investing) – HOUSTON – Oil prices turned positive on Wednesday after falling by more than $2, despite U.S. crude stocks rising by more than expected, according to the Energy Information Administration (EIA). Brent crude oil futures were up 38 cents, or 0.5%, at $75.91 per barrel by 11:07 a.m. EDT. U.S. West Texas Intermediate (WTI) crude rose by 57 cents or 0.79%, to

Oil slides 5% after limited Israeli retaliatory attack on Iran- oil and gas 360

Oil slides 5% after limited Israeli retaliatory attack on Iran

(CNBC) – U.S. crude oil sold off steeply Monday, putting the benchmark on pace for its worst day in more than two years after Iranian energy facilities were not damaged during an Israeli attack over the weekend. Futures for global crude benchmark Brent slid 5.94% to $71.53 per barrel at 9:26 am ET, while U.S. West Texas Intermediate futures dropped 6.26% to $67.29 per barrel. U.S.

Oil prices regain some ground after 7% loss last week- oil and gas 360

Oil prices regain some ground after 7% loss last week

(Investing) – LONDON – Oil prices rose on Monday, recouping some of last week’s more than 7% decline on worries about demand in China, the world’s top oil importer, and easing concerns about potential supply disruptions in the Middle East. Brent crude futures were up $1.10, or 1.51%, at $74.16 a barrel at 1308 GMT. U.S. West Texas Intermediate crude futures were

Oil plunges 4% as Iran supply disruption concerns ease, demand outlook weakens- oil and gas 360

Oil plunges 4% as Iran supply disruption concerns ease, demand outlook weakens

(Investing) – HOUSTON -Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook and after a media report said Israel would not strike Iranian nuclear and oil sites, easing fears of a supply disruption. Brent crude futures settled down $3.21, or 4.14%, at $74.25 a barrel. West Texas Intermediate futures finished down $3.25,

Exxon gets rare sell rating on oversupply concerns- oil and gas 360

Exxon gets rare sell rating on oversupply concerns

(Oil Price) – Exxon Mobil Corp. (NYSE:XOM) was up slightly in Thursday’s trading session after analysts at BNP Paribas Exane downgraded its shares to Underperform from Neutral with a $105 price target, good for 14% downside from the current price. The downgrade marks the first Sell equivalent rating XOM has received in more than a year, with analysts predicting a further decline in crude