News
DBO
16.10
+0.25%
0.04
Brent crude tops $90 on Mideast fears, but IEA sees slower global oil demand growth
Crude oil futures settle higher Friday after touching their highest intraday levels in six months. The IEA sees slower global oil demand growth for 2024. The energy sector ended the week with losses for the full week. U.S. Crude stocks rose sharply and inflation came in hotter than expected.
Seeking Alpha · 2d ago
Commodity Roundup: Gold clinches record high again, set for fourth-weekly rise
Gold clinches record high again, set for fourth-weekly rise. Spot gold climbs to a record of $2,400.73 an ounce. Crude oil prices were trading higher, but are on track to break a streak of four-straight weekly gains. OPEC cut its demand growth forecast for 2024 and 2025.
Seeking Alpha · 2d ago
Tighter Fundamentals And Geopolitics Are Pushing Commodities Higher
Home Market Outlook Commodities Tighter Fundamentals And Geopolitics Are Pushing Commodity Prices Higher. Oil market tightens as geopolitical risks grow. Europe exits winter with record natural gas storage. Copper is trading at its highest since the middle of 2022.
Seeking Alpha · 2d ago
U.S. natural gas glut to keep prices low this year before rising in 2025, EIA says
U.S. Natural gas futures fall after EIA reports larger than expected injection into storage. Inventories 38% above the five-year average for the week. The EIA expects prices to remain low this year and average $2.20/MMBtu in 2024. Crude oil futures also fall.
Seeking Alpha · 3d ago
Copper price forecast raised to $9,200/tonne at BMI on tight supply, China optimism
Copper price forecast raised to $9,200/tonne at BMI on tight supply, China optimism. Copper prices fell on Thursday, weighed down by a stronger dollar, after rising to their highest level since January 2023. The metal was trading 0.4% lower at $4.27 per pound on Thursday. BMI raised its 2024 average annual copper price forecast from $8,800 to $ 9,200.
Seeking Alpha · 3d ago
Oil: The Top Is Likely In For Now
Elevated positioning, bullish sentiment and falling refinery margins suggest this move higher in oil prices is probably done. Oil prices are likely to be well-supported on the downside but capped on the upside. The general consensus is OPEC+ is driving their higher production through the rest of 2024.
Seeking Alpha · 3d ago
Oil turns higher on report U.S. sees imminent Iran strike against Israel
Oil turns higher on report U.S. Sees imminent Iran strike against Israel. Crude oil futures resume their upward march after back-to-back daily losses. Iran's supreme leader reiterates pledge to retaliate against Israel for last week's strike in Syria. Big build in U.s. Crude oil stockpiles and hotter than expected U. S. Inflation data tempered expectations of interest rate cuts.
Seeking Alpha · 4d ago
December World Oil Production At Post-Pandemic High
World oil production increased by 400kb/d in December to a post-pandemic high. January World oil production is projected to drop by 1,744 bbl/d to 81,178 bbls/d. The Big Three, US, Saudi Arabia and Russia are the top three oil producing countries in the world.
Seeking Alpha · 4d ago
Crude inventory increased by 5.8M barrels for week ended April 5 - EIA
Energy Crude inventory increased by 5.8M barrels for week ended April 5 - EIA. Commercial crude stocks for the week ending April 5: 457.3M barrels. Gasoline inventory change: +0.7M barrels compared to the week ended March 29.
Seeking Alpha · 4d ago
UBS lifts Brent, WTI oil price forecasts by $5/bbl, raises demand growth estimates
Energy UBS lifts Brent, WTI oil price forecasts by $5/bbl, raises demand growth estimates for the year. The Bank also cuts its OPEC+ crude production projection for 2Q24. UBS lowered its Russian crude production forecast for the same period.
Seeking Alpha · 4d ago
Q3 crude oil price outlook raised at Morgan Stanley on rising geopolitical risk
Crude oil futures closed with a second straight loss on Tuesday. Morgan Stanley raised its Q2 and Q3 crude oil price outlook for Brent crude by $4.50/bbl to $92 and $94. The bank cites rising geopolitical risks and tight supply.
Seeking Alpha · 5d ago
Gold, oil inflows drive global commodity open interest value towards 2022 highs- JPM
J.P. Morgan: Estimated value of open interest across global commodity markets increased by 3.5% week-on-week to highest level since June 2022 of $1.39 trillion. Gold, oil inflows drive global commodity open interest value towards 2022 highs. Contract-based inflows reached a year-to-date high of $144 billion, driven by strength in precious and base metals markets.
Seeking Alpha · 5d ago
With 10-Year Treasuries At 4.4%, How High Is Too High?
Seeking Alpha · 6d ago
Global oil market likely 'extremely tight' in this year's H2, Citadel says
Global oil market likely 'extremely tight' in this year's H2, Citadel says. Israel and Hamas open fresh round of Gaza ceasefire talks. Crude oil futures fall for the first time after six straight daily gains. Goldman Sachs sees crude prices staying below $100/bbl this year.
Seeking Alpha · 6d ago
Iraq To Resume Oil Exports To Turkey Via Pipeline Shuttered A Decade Ago Amid Kurdish Negotiation Deadlock
Iraq is reviving a dormant pipeline to Turkey. The Kirkuk-Ceyhan pipeline has been inactive for a decade. The pipeline could potentially export 350,000 barrels per day by month's end. The move comes amid stalled negotiations with the Kurdistan Regional Government. Islamic State attacks halted the pipeline's operations in 2014.
Benzinga · 6d ago
Weekly Report: what happened at DBO last week (0401-0405)?
Weekly Report · 6d ago
Commodity Roundup: Gold builds on record rally, oil falls at start of busy week
Commodities On the Move Energy Commodity Roundup: Gold builds on record rally, oil falls at start of busy week. Spot gold prices hit an all-time high at $2,353.79 per ounce on Monday. Brent crude oil futures fell more than 1% on the day as tensions in the Middle East raise concerns of supply disruptions.
Seeking Alpha · 6d ago
Oil, Jobs And Money
Economy is still growing. The labor market is not showing signs of slowing. The recent surge in oil prices is another curve ball messing up the rate cut outlook. The Fed’s deliberations on the price of oil and other commodities do not factor directly into the Fed's forecast.
Seeking Alpha · 04/06 05:35
Crude keeps climbing on geopolitical risks, tight supply but decline seen ahead
Energy sector was the week's best performer among the S&P 500 11 industry groups. Crude oil futures edged higher on Friday and extended their weekly winning streak to four. Mideast tensions have sparked fears of a wider war in the Middle East. Capital Economics predicts oil prices will retreat in H2 and beyond.
Seeking Alpha · 04/05 23:35
Drilling rig count slips to lowest in two months, Baker Hughes says
Energy Drilling rig count slips to lowest in two months, Baker Hughes says. Total active drilling rigs in the U.S. Fell by 1 to 620, its third straight weekly decline. Drilling rigs targeting crude oil rose by 2 to 508. Total oil and gas count is 17% below this time last year.
Seeking Alpha · 04/05 18:10
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