Oil prices gained in early Asian trade on Monday after U.S. President Donald Trump extended a deadline for trade talks with the European Union, easing concerns about U.S. tariffs on the bloc that could hurt the global economy and fuel demand.
Oil rose in the early Asian session amid lingering Middle East tensions.
Crude oil outlook turns bearish as OPEC+ eyes a July output hike and U.S. inventories climb, raising fresh concerns about oversupply and weak oil demand.
Western energy supermajors have long sought to return cash to investors through buyback programs and dividends to keep shareholders happy. Some analysts have raised doubts about the sustainability of Big Oil's pledge to allocate cash to shareholders after a drop in crude prices.
Crude oil futures stall as traders target $59.51 support zone. OPEC+ output hike and U.S. inventory build reinforce a bearish oil outlook.
Josh Young at Bison Interest says oil could return to $100 per barrel this year, even as OPEC+ considers another output hike in July.
Oil fell in the early Asian session, dragged by fears of rising supply.
OPEC+ output hike talks and surprise U.S. inventory build pressure crude oil futures, shifting the oil outlook bearish as demand concerns mount.
Crude oil steadies near key EMAs as traders weigh demand risks, surprise inventory builds, and geopolitical tensions.
Oil fell in the early Asian session, weighed by an unexpected increase in U.S. crude inventories.
Oil prices eased on Thursday as unexpected builds in U.S. crude and fuel inventories raised demand concerns, while investors stayed cautious, focusing on renewed Iran-U.S. nuclear talks.
Behind OPEC+'s plan to ramp up oil output and punish over-producing allies, group leaders Saudi Arabia and Russia are pushing a second objective: taking on U.S. shale production to win back market share from the United States.