Oil prices face resistance as OPEC+ struggles with supply cuts. Will demand hold steady, or is a downturn ahead?
WTI crude oil consolidates near the long-term support zone, while natural gas pulls back after testing strong resistance at $5.
Alberta Premier Danielle Smith said her province wants to support President Donald Trump's energy agenda and help the U.S. win the AI with China. But Smith warned Alberta is looking for customers beyond the U.S. in Asia and Europe as Trump's tariff threats create uncertainty.
The Organization of the Petroleum Exporting Countries (OPEC) on Wednesday affirmed its growth outlook for oil demand and overall economic growth over the next two years.
U.S. crude oil inventories increased by 1.4 million barrels, with an increase in production and net imports, while gasoline stocks fell more than expected as demand picked up.
Kazakhstan contributed more than a half of overall OPEC+ oil production rise in February, lagging behind its pledges to reduce production, OPEC data showed on Wednesday.
The crude oil market looks as if we are trying to build a bit of a base in this region, as the global demand question continues to be a major factor here. Because of this, the markets are likely to be focused on short-term moves in both grades of oil.
Oil futures rose Wednesday, finding support from a weaker U.S. dollar as investors navigate intensifying trade tensions and worries about global economic growth.
Oil prices hold steady as traders assess strong demand against rising U.S. production and OPEC+ supply risks. Will the market break higher?
Crude oil hovers at key resistance—will bulls push prices higher, or is a breakdown ahead? Market trends, price levels, and OPEC+ insights inside.
Oil prices edged up early on Wednesday, helped by a weaker dollar, but mounting fears of a U.S. economic slowdown and the impact of tariffs on global economic growth capped gains.
Downward pressure persists as crude oil struggles near multi-year lows, with support at $65.40 critical for determining the next move.