OPEC+ expresses concern over the demand: China admits its economy suffered in August

Although China managed to control the outbreaks of the Delta variant of the Covid-19, it could not mitigate the impact on the economy during the period from July to August. The latest data from the National Bureau of Statistics of China, released on the eve of the latest OPEC+ meeting,  clearly show…

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Hurricane Ida downgraded: crude oil markets slowly react to the news

The price of crude oil recorded a slight fall on Monday, perhaps at the news that the Hurricane Ida, which had been battering the US Gulf Coast on Sunday, has finally been downgraded to a tropical storm. Although the strong winds can still cause mayhem, the impact on the ordinary lives appears to be…

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Amazing recovery of the price of crude oil

The price of crude oil has been rising for the whole week, having suffered a 15% loss in the first three week in August.  The fall of price by almost $11 a barrel made some pundits predicting a new crash, something that did not materialise. One of the main factors that sent the price of crude oil on…

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Oil Price: Tropical Storm Ida raises the prospect of crude oil supply crunch in the US

The price of crude oil rose on Friday in line with short-term supply uncertainties. As of 10:30 GMT, the price of WTI and Brent stood at $68.45 and $71.98 respectively - with a rise of 1.53% and 1.29%. On political front, the bomb attack by the ISIS-K in Afghanistan targeting the US troops sent the s…

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Oil price: API and EIA lift the moods up in the crude oil markets

The price of crude oil appears to have recovered the losses suffered throughout the last week. It got the much-needed boost this week when the data from the API, American Petroleum Institute and the EIA, US Energy Information Administration, showed draws in the US crude oil inventories. The EIA repo…

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Crude oil price: the Taliban factor in the crude oil markets

Crude oil markets made a significant recovery on Monday, having been through disturbing price fluctuations in the last few days. As of 18:00 GMT, the price of WTI and Brent stood at $65.52 and $68.60 with a rise of 5.44% and 5.25% respectively. Since there was no change in the factors that usually a…

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Iran' Oil Production is up in the hope of reviving the JCPOA

According to the latest report on oil productions by the member states by the OPEC+, the Iranian crude oil output for July shows an increase by 28%, compared to the output for the same month last year. The figure for July, 2021 stood at 2.485 million bpd and it was 1.936 million bpd for the same per…

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🤔 Crude Oil Price Fluctuates as if it followed the path of the Sun across the sky!

The oil price is falling and the pattern of fall on a given day remains puzzling, though. In the past few days it was as if the crude oil price followed the apparent movement of the Sun across the sky! In the early hours of the day when the markets in the Asia open, the price picks up only to fall ag…

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Oil price goes down: will the Iranian oil shipment to Lebanon create another crisis?

The price of crude oil was substantially down on Thursday with WTI and Brent hitting as low as 67.27 and 66.11 respectively as of 17:30 GMT. Both benchmarks lost over 3.3% in a day. The outbreaks of the Delta variant of the Coronavirus, coupled with weak economic data from China, have resulted in th…

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Oil Price: the API reports a modest crude inventory draw - slight recovery in the markets

With the news of a modest crude inventory draw, announced by the API, American Petroleum Institute, the price of crude oil recovered slightly from the losses it suffered on Tuesday. As of 09:00 GMT, the price of WTI and Brent stood at $66.89 and $69.43 respectively. The forecast by the analysts for t…

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Falling Oil Price: the key factor is China's economic slowdown

The price of crude oil has been falling with no sign of the trend being reversed, although the rate of fall remains modest. Throughout the past three weeks, analysts were wondering as to why the price of crude oil started falling despite the geopolitical risks that had the potential to disrupt the s…

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Voltatility in the oil markets still persists

Crude oil price behaved like the movements of a ping-pong ball that hit a wooden floor, having fallen from a moderate height, during the past week – and the two weeks before it; there were endless peaks and troughs on the screens of traders and investors that result in nothing, when subjected to co…

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Crude Oil Demand: optimism of the OPEC remains unchanged

Despite the presence of volatility in the crude oil markets, the OPEC is still optimistic about the demand of the commodity during the next few months of this year and for the entire next year. Although the emergence of the Delta variant of the Coronavirus has dealt a critical blow to the recovery o…

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Oil price recovers slightly - very modest rate of rise

The crude oil price that saw a precipitous fall on Monday recovered lost ground somewhat on Tuesday, perhaps owing to the modest inventory draw predicted by the API, American Petroleum Institute, for the week ending August 6. The API said there was a draw of 0.86 million barrels during the period it…

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Oil Price and Selling Strategic Reserves: how strategic is the move?

With the rise of crude oil prices in the past few months, some countries resorting to measures that some analysts thought unthinkable a few years ago; tapping into their respective Strategic Petroleum Reserves, SPR, is one of them. Both Japan and South Korea have been commercialising the SPR recentl…

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Oil Price: the need of the hour is a strong catalyst, not endless data crunching

The price of crude oil fell on Monday and the factors that we thought behind it appear to be at play. In my column on Sunday, I raised the issue of the price of oil on Monday in the current circumstances. As of 11:00 GMT, WTI and Brent recorded steep fall of 4.14% and 3.96% respectively; the price of…

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Oil Price on Monday: will it reflect the steadily rising tension in the Middle East?

Analysts are keen on watching the developments in the crude oil markets on Monday, having witnessed a tumultuous week, where the investor sentiment oscillated between two forms of unpredictability that corresponded with a sharp fall in price, followed by a fragile recovery. On Tuesday, the API, Amer…

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