Mexico is struggling to contain the problems connected with the economy. According to the updated figures, the economy declined by 0.1% quarter-on-quarter in seasonally adjusted terms. This happened in the first as well as in the second quarter of 2019. It is important to mention that the economy also contracted during the last three months …
Oil and petroleum prices go up in today’s trading as traders focus more on trade war news. Oil bulls kickstart the week with a positive tone as they take advantage of the latest news about an agreement. West Texas Intermediate or WTI crude contract went up by 0.36% or 0.21 points this Monday. WTI crude …
Trade War Buoys Oil and Petroleum Prices Today | Wibest Read More »
Oil and petroleum contracts went down during this Thursday’s trading after hitting resistance. Despite rallying earlier after the release of the report, prices bounced off their resistance. WTI crude oil contract went down by 0.32% or 0.18 points in today’s trading. WTI crude prices are currently down from $57.01 to $56.83 this Thursday’s sessions. Meanwhile, …
Oil and Petroleum Prices Down Against Small Inventory Build Read More »
Oil and petroleum products became part of everyday life, a long time ago. Despite emerging technologies such as wind and solar energies, the oil industry remains a crucial part of the global economy. Regulations, as well as the falling demand, is going to affect this industry in the long run. However, it won’t happen overnight, …
The multinational energy corporation, ConocoPhillips, unveils a decade-long plan to entice more investors. The company’s CEO announced the new plans yesterday, making headlines along the way. The energy company plans to purchase back about $30 billion worth of its stocks. That is equivalent to about half of the company’s current capitalization in the market. ConocoPhillips …
ConocoPhillips Pleases the Market and Devices Decade Plans Read More »
The Houthis from Yemen recently seized a vessel that was pulling cargo from Asia in the Red Sea on Sunday. The Saudi-led coalition announced the recent capture on Monday which further escalated the tensions in the Middle East. The recent move by the Yemen-based rebels is seen as a continuation of the drone attacks and …
Houthis Rebel Group Seize an Oil Rig in the Red Sea | Wibest Read More »
The surprisingly bullish sentiment in the latest report of OPEC nations pushed oil prices higher this Friday’s trading. The Organization of Petroleum Exporting Countries’ latest report also hints potential supply curbs from the members in the future. Today, West Texas Intermediate futures or WTI crude rose 0.39% or 0.22 points in trading sessions. WTI crude …
OPEC Nations Slash Production Growth Projections | Wibest Read More »
Iran has to deal with sanctions imposed by the U.S., and this is not an easy task. The oil industry provides the main source of income for the budget. The geopolitical situation in the Middle East is also quite tense. In this situation, it is not surprising that Iran has to come with a plan …
The Energy Information Administration raised its forecasts for oil and petroleum production this year, causing prices to gain in sessions. The EIA also reported that the US natural gas output will rise next year to record levels. WTI crude contract rallied up by 0.65% or 0.37 points this Thursday’s trading. A barrel of WTI crude …
Oil and Petroleum Prices Fall After Stockpiles Report Read More »
The much-awaited November Brazilian oil auction turns out a flop as it failed to bring in expected figures. The oil petroleum market billed this high-profile event as the largest in history before it fell flat. The high signing bonus and the limelight around the action appeared to fend off bidders. The government had high hopes …
Brazilian Oil Auction Flops, Petrobras Takes it All Read More »
Here are the latest market charts and analysis for today. Check them out and know what’s happening in the market today. GBPNZD The pair has been trading sideways for the past trading sessions, with the latest move in the red. The 50-day moving average appears ready to go up, indicating that traders are bullish on …
Daily Market Charts and Analysis November 13, 2019 Read More »
Activists and general calls for climate change appear not to affect the African oil industry. African countries aren’t slightly fazed to continue to pursue their oil and coal quest despite calls for change in the energy sector. Pressure for oil companies to go greener has weighed on the minds of traders, boosted by related events …
Climate Change Concerns Won’t Stop African Oil Industry Read More »
Oil Petroleum prices fell hard during this Monday’s trading sessions. Traders are still not done digesting the increase in US stockpiles reported by the EIA and API last week. The market started the week with a strong hangover from last week’s inventory reports. Unfortunately for traders, OPEC and US-China trade war news also added up …
Crude oil and the precious metal gold fell as investors regained confidence from news about US China tariffs. Surprisingly, both commodities fell despite traders hoping that oil prices would rise. Mixed sentiments in the market is arguably the reason for both contrasting items’ fall this Friday’s session. Some traders are seeing more light to the …
Oil and Gold Prices Tumble from US China Tariffs News Read More »
Stock markets reacted to the news that the U.S. and China made an agreement to dismantle the tariffs. On November 7, the Chinese Commerce Ministry’s spokesperson stated that China and U.S. agreed to cancel the tariffs. However, the ministry didn’t specify the exact timetable. The good news is that the U.S. and China are ready …
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