WTI hovers at $70.94 as the market balances geopolitical concerns and rising U.S. crude inventories.
Andy Critchlow, EMEA head of news at S&P Global Commodity Insights, discusses the recent fluctuations in global oil prices due to the ongoing tensions in the Middle East.
Oil gained. ANZ Research analysts said there were fears of oil supply disruptions following a news report that Israel is considering a missile attack within days.
Ross Schaapp, head of research at GeoQuant, says that will "dramatically" increase oil prices.
Oil prices ticked higher in early trade on Thursday as investors weighed the escalating conflict in the Middle East and the potential for disruption to crude flows, against an amply-supplied global market.
The market has a not-so-secret cushion should Israel target Iran's oil industry.
Rising geopolitical tensions are driving oil (CL=F, BZ=F) prices higher on Wednesday. The Schork Group principal Stephen Schork joins Market Domination to offer his insights on the current state of the oil market.
OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country's facilities but the producer group would struggle if Iran retaliates by hitting installations of its Gulf neighbours.
Oil (CL=F, BZ=F) prices are rising amid escalating Middle East tensions following Iran's missile strike on Israel Tuesday. Blue Line Futures President Bill Baruch joins Catalysts to analyze the situation and it's implications on the commodity.
As geopolitical tensions escalate overseas, Kevin Green breaks down the response from Crude Oil. Green calls attention to M&A activity in Energy stocks and a "major disconnect between energy companies and their valuations compared to what we're seeing on the ground as far as margins.
Bob McNally, Rapidan Energy Group founder, joins 'Power Lunch' to discuss the tension in the Middle East impact on oil stocks.
OPEC rebutted a Wall Street Journal report on Wednesday, calling it wholly inaccurate and misleading in saying that Saudi Arabia's energy minister warned oil prices will drop to $50 per barrel if OPEC+ members do not stick to agreed-upon production limits.