crude oil futures
| March 19, 2024, 5:16 a.m.
Crude Oil Futures Trade Lower Despite Tight Supply Outlook
Crude oil futures traded lower on Tuesday morning, despite a tight supply outlook from major oil producers such as Iraq, Saudi Arabia, and Russia. May Brent oil futures and May crude oil futures on WTI (West Texas Intermediate) both experienced slight declines. Russia is expected to increase its oil exports in March, according to a Reuters report. The recent drone attacks on Russian refineries by Ukraine have impacted fuel production in Russia, potentially leading to increased crude oil exports. Meanwhile, Iraq announced plans to cut crude oil production, and Saudi Arabia saw a decline in crude oil exports in January. Market sentiment is also influenced by the upcoming conclusion of the US Federal Reserve meeting, with expectations of unchanged interest rates. Additionally, other commodities such as natural gas, castorseed, and kapas futures showed mixed trading patterns on commodity exchanges.
Read More.| March 4, 2024, 10:06 a.m.
Crude Oil Futures Rise as OPEC+ Extends Voluntary Cuts; Middle-East Tensions Persist
Crude oil futures experienced an uptick as several OPEC+ members extended voluntary production cuts, aiming to stabilize oil markets. However, tensions in the Middle East continue to influence market sentiment. Meanwhile, other commodities like natural gas, steel, and dhaniya also witnessed notable price movements.
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Crude Oil in Hands
| Feb. 7, 2024, 6:03 a.m.
Crude Oil Futures Rise Amid Steady US Production Expectations
Crude oil futures experienced an upward trend as the United States anticipates stable crude oil production throughout the year. Prices for April Brent oil futures and March crude oil futures on WTI (West Texas Intermediate) saw modest gains, reflecting market sentiments amidst forecasts of consistent output from the US. The Energy Information Administration (EIA) reported record high production levels in December, but disruptions due to inclement weather led to a temporary decline in January. However, production is expected to rebound close to previous highs in the coming months, influencing market dynamics.
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