Houthi Attack near Saudi border and the sentiment shift in the oil markets

The seemingly unprovoked attack by the Houthi rebels on a contingent of Bahraini soldiers, who had been guarding the southern border between Saudi Arabia and Yemen, appeared to have taken the entire Middle East by surprise. As a result, an officer and a soldier have died and there have been more cas…

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Will Saudi Arabia and Russia stick to their oil production cuts?

The price of crude oil that went up  by  nearly 10% in the last few days, remained just above $90 as the markets closed for the weekend. As the analysts blamed the rise in price of crude oil on the production cuts - announced and then extended until the end of this year - by Saudi Arabia and Russia, P…

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Diesel usage in India down for two successive months!

The sale of diesel in India, the world's third largest consumer of fossil fuel, has unexpectedly fallen in September, according to the latest data. The fall in sale of the commodity for the second successive month has been attributed to the low demand and heavy rains during the monsoon period by…

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Rising oil prices and the menace of inflation

The price of crude oil has been rising for the past few days with that of WTI going above $90 mark for the first time since November, last year. As of 18:00 GMT on Friday, the prices of two benchmarks, WTI and Brent were at $87.51 and $90.65 respectively. The price of oil went up when Saudi Arabia an…

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Oil Price: volatility keeps it on a slippery pole

The oil prices are in decline again despite the larger-than-expected draw in US crude stocks this week.  Although the production cuts announced by Saudi Arabia and Russia have been pushed up the prices of crude oil for obvious reasons, for two successive weeks the price of WTI has been below $80. As …

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Oil price: will rising energy prices slow down the global economic growth again?

The price of oil has been on the rise for two successive months, a development can partially attributed to the production cuts of over 1.5 million bpd by two leading players in the OPEC+, Russia and Saudi Arabia. Perhaps buoyed by the apparent succss of pushing oil prices up, the Saudis are now sayi…

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Oil Price: China's manufacturing PMI is slightly up in July!

Oil price has been on the increase and the production cuts announced by Russia and Saudi Arabia have already been attributed to the sudden spike that we see in the commodity markets. China has, meanwhile, released its much-awaited monthly report on its economy, including that of its Manufacturing Pu…

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Oil price: the production cuts affect the markets - finally!

The price of crude oil rose almost  by $6 this week, a development that can easily be attributed to the anxiety over the perceived shortage in supply due to the production cuts announced by Saudi Arabia and Russia. As  of 18:00 GMT on Friday, the prices of WTI and Brent were trading at $80.58 and $84…

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Oil Price: will $60 price cap bring about a buyer-apathy?

The price of Brent crude oil went up above the market-sensitive threshold, $80 a barrel on Friday, having fluctuated just below the value during the week. As of 18:00 GMT, the prices of WTI and Brent were $77.07 and $81.07 respectively. The price of LNG, liquified natural gas, meanwhile was at $2.71…

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Rising oil prices in light of falling demand: is it sustainable?

The price of crude oil rose this week, having come out of the static loop that it has been in for weeks.  As of 09.30 GMT on Friday, the prices of WTI and Brent stood at $76.76 and $81.28 respectively. The price of LNG, liquified natural gas, meanwhile, was at $2.55. The rise in price of crude oil de…

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Oil price: production cuts failed to amplify the investor confidence

Oil price and production cuts On the seesaw of uncertainty, the speculators of the price crude oil and two of the major producers of the OPEC+, are, metaphorically speaking,  trying to get their respective way to buckle the prevailing equilibrium of the oil markets on the fulcrum of sentiments - at …

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Oil price: a slight rise in China's Manufacturing PMI pushes the oil prices up

China's Manufacturing Managers' PMI for June, 2023 China, the world's second largest economy, released its monthly data on Manufacturing Purchasing Managers' Index, known as the PMI, that is a key indicator of the manufacturing activity of the country.  It has risen by 0.2% from the p…

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