Shares in oil-producing companies were given a lift after crude oil prices rose on Friday, with analysts pointing to Donald Trump's comments that he plans to make a "major statement on Russia". Markets took this to imply sanctions, though the US President did not elaborate in his interview with CNBC, only to say that he would reveal all on Monday.
Brent crude stalls at $70 resistance as EMAs slope downward; traders await breakout confirmation amid fragile risk sentiment and OPEC+ speculation.
Crude oil pulled back from recent highs, testing converging support levels, with bulls and bears now eyeing a breakout or breakdown from a pivotal zone.
OPEC cut its global oil demand forecasts for the next four years on Thursday as Chinese growth slows, even as it lifted its longer-term view due to rising oil needs in the developing world and said there was no evidence demand had reached its peak.
Helima Croft from RBC Capital Markets discusses 2025 OPEC seminar's shift toward long-term transition goals, with limited focus on current oil market dynamics. While OPEC claims the market can absorb added supply, Croft highlights markets are 'amply supplied' looking into Q4.
India's Petroleum Minister tells CNBC that the country helped global oil price stability by purchasing Russian oil. CNBC's Dan Murphy and Sri Jegarajah discuss how far is India prepared to go to secure its domestic supply as the U.S. proposes sanctions on buyers of Russian oil.
India's Minister of Petroleum and Natural Gas, Hardeep Singh Puri, elaborates on the rationale for the country's decision to purchase oil from Russia. He adds that oil prices could have "gone up to $130 a barrel" if countries, including India, has stopped buying Russian oil.
The crude oil market continues to see a lot of noisy trading, but overall, we are looking to go higher over the longer term from what I see. Seasonality favors a rising oil price, and therefore I think it makes sense to look at pullbacks as buying opportunities.
Cyrus Beschloss, Founder of The Generation Lab, says Gen Z values mentorship and diversity but is critical of corporate ethics and wants workplaces free of political culture wars.
Markets today await Fed minutes, oil data, and tariff updates as traders gauge policy direction and volatility in the U.S. session ahead.
Imperial Oil has rallied 30% YTD, but further outperformance is unlikely unless oil prices recover, so I shift my rating from 'buy' to 'hold.' Strong cash flow generation and aggressive share buybacks make IMO a low-risk holding, but current valuation multiples are no longer attractive for capital appreciation. The company remains a solid choice for dividend and dividend growth investors, but upside is limited until share prices fall or oil prices firm up.
Here's why oil prices are climbing to their highest levels in two weeks, despite a group of oil producers agreeing to open the floodgates of global crude supply.