The oil markets look soft again this past week, as we continue to see a lot of selling. This is a market that will be looking for a short-term bounce, but this bounce could be a nice selling opportunity in a market that simply cannot find its feet.
Crude oil sank to $57.29, failing $58.39 Fib support, with a close below $57.77 targeting $55.23-$56.47 zone.
A big international trade is conducted in cooking oil. But this isn't about the oil you put into your kitchen fryer.
A privately financed fund aims to retire 20,000 wells at no cost to taxpayers.
"[Modi] assured me today that they will not be buying oil from Russia," Trump said. However, the U.S. president also said that the halt will not be immediate.
CNBC's Eamon Javers joins 'Closing Bell Overtime' to talk recent comments from the president on India and Venezuela.
Baghdad has signed deals with foreign investors to capture gas that is now flared, worth $4 billion to $5 billion a year. Oil production releases large volumes of gas that are typically burned off, a process also known as flaring.
The Tuesday session opened with a lot of negative pressure, and it now looks like the market is going to see more of a “fade the rallies” type of behavior. At this point in time, the market continues to price in oversupply and a potentially slowing global economy.
Oil production from producers outside of the Organisation of Petroleum Exporting Countries (OPEC) will start to decline if oil prices fall to $60 per barrel, TotalEnergies CEO Patrick Pouyanne said on Tuesday.
Oil and gas prices fall as OPEC+ output growth and easing risk premiums weigh on sentiment, keeping market outlook bearish.
Oil and natural gas remain volatile, with crude oil rebounding on trade summit hopes while bearish technical patterns and geopolitical uncertainty continue to pressure prices across energy markets.
Front-month U.S. crude oil futures ended Monday's trading at their smallest premium since January 2024 over the seventh-month contract, as OPEC+ ramps up supply while seasonal refinery maintenance in the U.S. pressures demand for prompt barrels.