Oil prices rise as global supply tightens due to lower exports from Saudi Arabia and Russia, offsetting concerns about global demand growth amid high interest rates.
Oil prices are dipping due to the possibility of easing supply tightness through Iraqi exports and concerns over a faltering Chinese economy impacting demand.
Crude oil prices rise as US inventories decline and concerns about US rate hikes and China's economic indicators persist.
Oil prices fall on weak economic data and anticipation of US Federal Reserve Chair Jerome Powell's speech on interest rates. Concerns about global demand and rising supply, along with disappointing manufacturing data, contribute to the downward pressure on oil prices. Additionally, Iran's oil output is expected to increase and the US is considering easing sanctions on Venezuela's oil sector.
Oil prices fell as U.S. labor market data indicated tight conditions, potentially leading to further interest rate increases by the Federal Reserve, overshadowing concerns of weakening demand and rising inventories.
Oil prices rose over 1% as the dollar strengthened ahead of a speech by the head of the U.S. Federal Reserve for clues on interest rates, with Brent crude reaching $84.29 a barrel and U.S. West Texas Intermediate crude at $79.92, while a strong dollar and recent inventory draws affected demand and supply.
Oil prices increase as China takes steps to support its economy, but concerns about global growth, US interest rate hikes, and Chinese manufacturing data persist.
Stocks anticipate Friday's jobs data report, China's economic situation worsens, and oil demand is under pressure due to elevated interest rates and the threat of Tropical Storm Idalia.
Oil prices inched up on Monday as China implemented measures to support its struggling economy, although concerns about economic growth and potential US interest rate hikes continue to weigh on investor sentiment. The move by China to halve stamp duty on stock trading and the soft-landing scenario for the US economy helped boost oil prices, while the possibility of a hurricane hitting Florida could lead to short-term support for the oil price. However, the anticipation of easing sanctions on Iran and Venezuela has weakened the narrative of tightening supply.
Oil prices surged to $85 as efforts by OPEC+ to reduce supplies and China's commitment to bolster its economy drive up global crude consumption and support prices.
Oil prices surged by two per cent to their highest level since November after Saudi Arabia and Russia extended their voluntary supply cuts by three months, raising concerns about potential shortages during peak winter demand.
Rising WTI crude oil prices are raising concerns about higher inflation, which the Federal Reserve is trying to avoid, according to Moody's Analytics Chief Economist Mark Zandi.
Summary: Rising oil prices and increasing gas prices, driven by the Russian-Saudi agreement to extend oil production cuts, are contributing to inflation concerns and putting pressure on the markets, leading to potential gains for oil stocks like ConocoPhillips and Chevron.
Inflation is expected to rise in August as oil and gasoline prices increase, putting pressure on the economy and potentially leading to higher interest rates and a stronger dollar.
Rising oil prices are making it harder for the Federal Reserve to achieve its 2% inflation target, as increased energy costs could lead to higher prices for goods and services, potentially complicating the Fed's plan to hold interest rates steady and achieve a "soft landing" for the economy.
The extension of voluntary oil production cuts by Saudi Arabia and Russia has caused oil prices to surge above $90 a barrel, threatening an inflationary spike that could disrupt central banks' plans to wind down interest-rate hikes, particularly for the Bank of Canada.
Oil prices reach new highs in 2023 due to supply constraints caused by output reductions from Saudi Arabia and Russia, raising concerns about global inventory shortages and potential inflationary pressures.
Despite a spike in gas prices, the rise in inflation appears to be easing gradually, with core prices exhibiting a slower increase in August compared to July, suggesting that price pressures are being brought under control.
The US is facing a significant risk to its energy security as its oil reserves hit a 40-year low, leaving it more reliant on imports and vulnerable to supply disruptions and price volatility in the global oil market, according to markets guru Larry McDonald. The Biden administration has been draining the strategic petroleum reserves since the start of the Ukraine war to cap energy prices, but with oil prices surging, the situation could exacerbate inflationary pressures and prompt the Federal Reserve to maintain higher interest rates for longer.
Oil prices surged on Thursday, with U.S. crude surpassing $90 a barrel, as the possibility of a tighter supply increased, driven by extended output cuts from Saudi Arabia and Russia.
Oil prices continue to rise as OPEC+ supply cuts tighten the market, with Brent crude surpassing $94 a barrel and speculators increasing bullish wagers on Brent and West Texas Intermediate, leading to concerns about inflationary pressures.
Oil prices increased for a third consecutive session due to forecasts of a supply deficit in the fourth quarter, the extension of output cuts by Saudi Arabia and Russia, and optimism about a recovery in demand in China.
Gasoline prices are rising due to oil supply cuts in Saudi Arabia and Russia, as well as flooding in Libya, but some experts believe that increasing oil prices will not have a significant impact on the US economy and do not expect them to rise much higher in the next year or two due to factors such as increased US oil production, slow global economic growth, and the green energy transition. However, high oil prices can lead to higher inflation, potential recession, and could influence the Federal Reserve to raise interest rates, but the impact may not be as severe as in the past, and some experts recommend investing in the energy transition and adopting a more defensive investment strategy.
Crude oil prices reach new highs despite concerns about China's economy and tightened monetary policies, with the oil market structure indicating strong demand and potential support for higher prices.
Oil prices reach a 3-month high as OPEC maintains tight supply. Gas prices in the US rise, posing a threat to efforts against inflation.
Rising crude oil prices, driven by supply concerns and output cuts, threaten to push up petrol prices and hinder efforts to tame inflation, putting pressure on central bankers.
Oil prices rise as supply tightens and demand remains strong, with Chevron CEO predicting they will reach $100 a barrel.
The recent global supply concerns caused by Russia's fuel export ban are driving up oil prices, counteracting the demand fears driven by macroeconomic headwinds and high interest rates.
Higher oil prices are causing emerging-market assets to decline and dampening hopes for interest rate cuts, making developing-nation assets vulnerable.
Concerns over a possible U.S. government shutdown, rising oil prices, and a heavy schedule of Treasury debt sales are adding pressure to the markets, along with the ongoing property crisis in China and the effects of last week's hawkish Federal Reserve projections.
Goldman Sachs is not concerned about the recent surge in oil prices for three main reasons: the increase in oil prices is relatively small compared to previous periods, falling electricity prices offset higher oil prices, and the Federal Reserve is unlikely to raise interest rates in response to the increase in oil prices.
Bitcoin and other cryptocurrencies are seeing a slight increase, but they are still facing pressure due to rising bond yields and uncertainty over interest rates and Federal Reserve policy.
Oil prices rose on Tuesday amid tight supplies and speculation over what $100 oil could do to the economy, with JPMorgan economists projecting a potential impact on global GDP growth if prices remain elevated.
Summary: The mounting shortage of oil in a major U.S. oil town is causing disruption in energy markets, leading to a surge in U.S. oil prices.
Oil prices hit their highest levels in over a year as ongoing production cuts raise concerns about the global economy, while the specter of $100 oil looms and supply tightness becomes apparent with reduced stockpiles and increased refining. Higher interest rates may dampen crude demand, but for now, the focus remains on supply.
The U.S. bond market is signaling the end of the era of low interest rates and inflation, with investors now believing that the U.S. economy is in a "high-pressure equilibrium" characterized by higher inflation, low unemployment, and positive growth. This shift has significant implications for policy, business, and individuals, as it could lead to failed business models and unaffordable housing and cars, and may require the Federal Reserve to raise rates further to control inflation.
Oil prices are falling, providing some relief to the bond blowup caused by rising interest rates, but the direction of markets will be determined by the upcoming U.S. employment report.
Oil prices surge over 2% as tensions between Israel and Hamas raise concerns of a wider conflict in the Middle East, reversing last week's decline in prices due to a darkening macroeconomic outlook and intensifying global demand concerns.
The Canadian Dollar is easing off pressure as Crude Oil prices soften and US data dominates the market, with inflation figures expected to determine chart direction for the rest of the week.
Financial markets are under pressure after wholesale inflation data came in higher than expected, raising the likelihood of additional interest rate hikes by the Federal Reserve, while Bitcoin faces selling pressure and shows signs of a potential downward trend according to analysts.
Oil prices rose around 1% on Thursday, supported by expectations that U.S. interest rates had peaked, but gains were limited by a lower demand growth forecast for next year from the International Energy Agency and higher U.S. inventories.
Oil prices surged on Wednesday amid escalating tension in the Middle East following a blast at a Gaza hospital, raising concerns about potential oil supply disruptions from the region.
Oil prices remain stable as the market assesses tensions in the Middle East and higher U.S. crude stockpiles, with concerns about weak demand and macroeconomic factors limiting price gains.
