Commodity Prices – Oil & Gas 360

Banks betting on market fundamentals despite trade policy upheaval

June 4, 2025

(World Oil) – Banks are staying confident in long-term energy fundamentals despite significant trade policy turbulence, according to the Spring 2025 Haynes Boone Energy Bank Price Deck Survey. The survey, now in its 12th edition, is a leading source of information for energy lenders and producers, providing crucial details on commodity price expectations. Based on internal data from 28 banks, a record number

Is a new oil price war between the west and OPEC about to break out?

June 3, 2025

(Oil Price) – It is highly unlikely that anyone with even a modicum of intelligence has lost money in the past ten years or so by trading against the predictable thinking of those in charge of Saudi Arabia’s oil policy. Quite the reverse, in fact, with enormous profits available from the failures of the enormously well-flagged and exceptionally predictable strategy of

Big oil set to book lowest quarterly profits in three years

January 29, 2025

(Oil Price) – The five biggest international oil and gas majors are expected to report in the coming weeks their lowest quarterly earnings in three years, data compiled by Bloomberg showed on Tuesday. Lower oil and gas prices, weaker oil trading and LNG business at some of the European majors, and declining margins across the board are expected to weigh on the fourth-quarter

Oil trades in narrow range since 2022 on OPEC+, sanctions and demand worries

July 12, 2024

U.S. News LONDON – Brent crude oil has been trading in a tight range of $75-$90 a barrel since late 2022 as OPEC+ cuts keep a floor under prices while sizeable spare capacity, demand uncertainty and sanctions policy prevent the market breaking higher. After a series of gradual production increases that started in early 2021 which unwound historic cuts agreed

OPEC sticks to 2024 oil demand view, sees strong travel season

July 10, 2024

U.S. News MOSCOW/LONDON – OPEC stuck to its forecast for relatively strong growth in global oil demand in 2024 and next year, saying on Wednesday that resilient economic growth and air travel would support fuel use in the summer months. The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand would rise by 2.25 million

Oil prices hold firm, on pace for weekly gain, as inflation appears to ease in U.S.

June 13, 2024

CNBC Crude oil futures held steady Thursday after the latest round of economic data indicated that inflation is easing in the U.S., potentially opening a path for the Fed to cut interest rates and boost the economy. Wholesale prices unexpectedly fell in May by 0.2% after rising in April, according to Labor Department data released Thursday. The producer price report

OPEC⁺ surprise triggered record hedge fund oil sales: Kemp

June 10, 2024

BOE Report Portfolio investors sold record volumes of petroleum last week after OPEC⁺ surprised the market by announcing plans to increase production starting from the fourth quarter of 2024. Hedge funds and other money managers sold the equivalent of 194 million barrels in the six most important futures and options contracts over the seven days ending on June 4. Fund

Oil pares gains after US data deflates expectations of near term rate cut

June 7, 2024

Yahoo Finance LONDON – Oil pared gains on Friday as demand concerns intensified after strong U.S. jobs data soured hopes of the Federal Reserve cutting interest rates soon. Brent crude futures edged up 12 cents to $79.99 a barrel while U.S. West Texas Intermediate crude futures rose 28 cents to $75.83 as of 1328 GMT. Data on Friday showed U.S.

Oil dives 3%, OPEC+ decision fails to allay demand worries

June 3, 2024

Yahoo Finance NEW YORK – Oil prices tumbled more than $2 a barrel on Monday to multi-month lows, as investors worried about the demand outlook and took a complicated OPEC+ output decision as a sign that members of the producer group were eager to export more crude. OPEC+ on Sunday agreed to extend most of its deep oil output cuts

OPEC+ to meet virtually on June 2

May 24, 2024

BOE Report The OPEC+ group of oil producers, comprising the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, has pushed back its output policy meeting by a day to June 2. The meeting was to have been in Vienna on June 1, but will now be held online a day later, OPEC said on Friday. OPEC+

Oil slips after Iran plays down reported Israeli attack

April 19, 2024

Yahoo Finance Oil slipped on Friday following an earlier price spike of more than $3 after Iran played down reported Israeli attacks on its soil, in a sign that an escalation of hostilities in the Middle East might be avoided. Brent futures were down 72 cents, or 0.83%, at $86.39 a barrel by 1314 GMT. The front month U.S. West

Oil prices dip, but set to end week over 3% higher

March 15, 2024

Yahoo Finance Oil prices edged lower on Friday but were on track to gain over 3% for the week, boosted by the International Energy Agency raising its 2024 oil demand forecast and an unexpected decline in U.S. stockpiles. Brent crude oil futures were down 47 cents or 0.6% to $84.95 a barrel at 1434 GMT, a day after topping $85

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