“Oil Prices Skyrocket: Traders Eagerly Watch Surging Demand Prospects – Don’t Miss Out!”
Oil futures experienced an increase on Thursday, as traders considered the support from a continuous weekly decline in US crude inventories versus the pressure from concerns about the outlook for energy demand. The Energy Information Administration (EIA) recently reported a weekly decline of 5.1 million barrels. However, Michael Hewson, chief market analyst at CMC Markets […]
“Oil Prices Plummet, Marking Monthly Loss: Economic Impact Forecasted”
Oil futures dropped on Wednesday, with front-month prices for the U.S. benchmark turning lower for the month due to concerns over weaker demand. Market analysts suggest that prices appear set to retest recent lows, and it likely won’t be long before OPEC and its allies consider fresh output reductions if demand continues to weaken. June […]
US Oil Prices Make a Comeback: Higher Session Close, Weekly Dip Continues
Oil futures experienced a gain during Friday’s session, albeit losing over 5% for the rest of the week. The flash service PMI reports from overseas were not as bad as expected, whilst the U.S flash PMI for both had exceeded expectations, thus providing oil support. Although oil prices had temporarily stabilised during short-term heightened growth, […]