Commodities Category

WTI Falls to Around $72.50 as OPEC+ Plans Production Increase West Texas Intermediate (WTI) crude oil prices have declined for the second consecutive session, trading near $72.50 per barrel during Monday’s Asian trading hours. This downward trend is largely attributed to reports that the Organization of the Petroleum Exporting Countries and their allies (OPEC+) are

WTI Crude Oil Prices Remain Steady Below $73 Amid US Recession Concerns and Easing Supply Fears West Texas Intermediate (WTI) crude oil prices are struggling to build on Thursday’s rebound from a two-week low near the mid-$71 range, trading in a narrow band around $72.75 during Friday’s Asian session. The commodity remains nearly flat for

Oil Edges Higher Ahead of Weekly Stockpile Reports Oil prices are trading relatively flat on Wednesday after experiencing sharp declines over the past three sessions. The stabilization follows reports that a tanker in the Red Sea was attacked by Houthi rebels. Delta Tankers confirmed that its vessel, Sounion, sustained minor damage in the attack. This

WTI Trades with Modest Losses Below $77.00, Downside Potential Limited West Texas Intermediate (WTI) crude oil prices are struggling to build on the previous day’s rebound from weekly lows, trading with a slight negative bias during the Asian session on Friday. The commodity is currently around the $76.70 mark, down 0.25% for the day, but

Oil Retreats as Markets Shift Focus to Demand Concerns Oil prices declined on Tuesday, ending a five-day rally as the market shifted its focus back to concerns over demand, following OPEC’s recent downward revision of its 2024 demand growth forecast due to weaker expectations in China. Global benchmark Brent crude futures dropped by 57 cents,