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👤Arthur Greene
🕔August 11, 2016
As the increase in US crude inventories and the already high Saudi Arabian production strengthened fears that a major supply glut that will remain till at least mid-next year and will keep impacting the market.
There was a slump in global crude prices as the International Brent Crude futures edged down by 10 cents to settle at $43.95 per barrel, and WTI Crude futures was trading 10 cents lower at $41.95 per barrel at 6:50GMT.…
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👤Arthur Greene
🕔August 10, 2016
US Stocks plummeted today, driven down by energy shares as oil prices were also in descent. The Dow Jones Industrial Average fell 23 points lower to settle at 18510. The S&P 500 also dropped by 0.2%, and a 0.4% slide was witnessed in the Nasdaq.…
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👤Lisa Harris
🕔August 9, 2016
- Al-Sada’s comment gives crude upward momentum
- US Production forecasts still see crude lower
The price of crude oil made a significant rally between on Monday evening and Tuesday morning, as it rose above $45 per barrel when the president of the Organization of Petroleum Exporting Countries (OPEC) assured the market of a rise in September.…
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👤Arthur Greene
🕔August 1, 2016
The Canadian dollar has more recently been hit by wave after wave of turbulence mostly arising from the volatility surrounding oil prices. The Canadian dollar last week reached its least in four months against the US dollar, a significant reason for this fall is the slump in crude oil price.…
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👤Lisa Harris
🕔August 1, 2016
- Matt Smith predicts again
- Oil Storages are reportedly brimming with supplies
Crude oil has returned under $40 per barrel after its worst month in this year. The US grade of crude oil used to benchmark oil prices, the West Texas Intermediate crude oil futures fell by 16% in July, as the inventories remain unreasonably high.…
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👤Lisa Harris
🕔July 27, 2016
- Gasoline glut strengthens likelihood of fall
- Oversupply in the downstream sector
Since the energy prices plummeted in 2014, Oil prices have been moving half-heartedly with an oil glut consistently dampening its enthusiasm to make full recovery.
There seems to be more trouble looming ahead as Oil companies had previously raised the production quota of their refined crude oil products like gasoline to compensate for the low price of Crude enabling them still make around the same amount of profit they made before the price of oil dropped.…
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