Oil Prices End Higher to Kick off 2025, Boosted by a Stronger Demand Outlook
WTI Crude Breaks Resistance, Eyes US$80 Next
Attention Oil & Gas Industry! Biden is about to make a big move, and this time Trump might have no solution...
① The President of the USA, Biden, is said to be issuing an executive order to permanently ban new offshore Oil & Gas development in certain coastal waters of the USA to ensure these areas have eco-friendly protection for coastal regions. ② This order is based on a 72-year-old law that grants the White House broad discretion to permanently protect USA waters from the impacts of Oil & Gas leasing.
USA's Crude Oil Product inventories continue to decrease, and oil prices are expected to rise for two consecutive weeks.
Due to the decrease in USA Crude Oil Product inventories, prices have increased. Oil prices have broken through the narrow Trade Range they had been in for several months, surpassing a key technical threshold.
Crude Oil Product inventories continue to decline, and oil prices have welcomed a three-time increase at the end of the year.
This week (12.26-1.1), Crude Oil Product has shown an upward trend with fluctuations. The average price of WTI this week is $70.73 per barrel, an increase of $1.05 per barrel, or 1.51%, compared to the previous week.
Oil Prices Inch Higher on China Stimulus Hopes; Set for 2nd Straight Weekly Gain