OPEC Monthly Report: Maintaining Unchanged Oil Demand Forecast, Some Member Countries Still Exceed Production Quotas.
OPEC maintains its estimated oil demand growth for the next two years.
Crude Oil Prices Ease as Investors Digest Fed Chair Remarks, ANZ Bank Says
Crude oil prices ended the previous session lower and saw some volatility as investors considered Federal Reserve Chair Jerome Powell's semiannual monetary policy report, which said the U.S. is "no
Supply Risk Drives Oil Market Upside – TDS
Oil market upside is driven by supply side risk. Meanwhile, the impact to oil supply from hurricane Beryl was less than expected, adding further downward pressure to the market, TDS Senior Commodity Strategist Ryan McKay notes.
Russian crude oil exports hit the biggest weekly drop since the Russia-Ukraine conflict.
According to the Wise Finance app, in the seven days ending on July 7th, Russian crude oil exports saw the largest decrease since the outbreak of the 2022 Russia-Ukraine conflict, and the volatility’s four-week average fell to its lowest level since February of this year. Ship tracking data and port agent reports show that as of the week of July 7th, a total of 25 oil tankers loaded 18.7 million barrels of Russian crude oil. This number is a significant decrease from the previous week's 25.66 million barrels. As of the week of July 7th, the daily marine transportation volume of Russian crude oil has decreased by about 0.99 million barrels to 2.67 million barrels, which is the lowest level since the last week of January, when a storm occurred.
Due to the rise in metal and grain prices, the value of open positions in csi commodity equity index has surged to a six-week high.
The estimated value of open contracts in the global commodity market has surged to a six-week high.
GTJA Securities: Crude oil prices continue to trade in line with seasonal expectations.
Last week, crude oil prices continued to remain strong and broke through previous resistance levels. In terms of demand, according to the EIA report, the demand for refined products improved marginally month-on-month and crude oil inventory reduction was better than expected.
Crude Oil Declines on Monday, WTI Faces Familiar Technical Levels as Tropical Storm Fears Ease
Crude Oil Declines on Monday, WTI Faces Familiar Technical Levels as Tropical Storm Fears Ease
Beryl Briefly Cuts Power to Galveston Refinery, Parts of Explorer Pipeline Shut
Marathon Petroleum's 665,000 b/d Galveston Bay, Texas, refinery briefly lost power Monday morning and at least one other refinery has cut output as Tropical Storm Beryl brought heavy rains and more th
Raymond James Adjusts Price Target on Marathon Oil to $42 From $40, Maintains Strong Buy Rating
Marathon Oil (MRO) has an average outperform rating and a price target range of $28 to $45, according to analysts polled by Capital IQ.Price: 28.10, Change: -0.08, Percent Change: -0.28
Express News | Marathon Oil Corp : Raymond James Raises Target Price to $42 From $40
Global commodity inventory is in a state of emergency: inventory days of available commodities outside of China experienced the largest month-on-month decline in 31 months.
JPMorgan said that the main reason for this decline was due to the decrease in crude oil and refined product inventories. The global available days of oil and refined products in June decreased sharply by 2.5 days, the largest monthly decline in four years.
Optimistic prospects for interest rate cuts have led to a general increase in major overseas asset classes such as US stocks, gold, silver, and crude oil. Weekly report on major overseas assets.
After the release of non-farm data for the week of July 1-5, the US stock and bond markets rose and the US dollar came under pressure. Upon realizing the 'data detail' that the data in the first two months before non-farm was cut by 0.11 million, US bonds sharply rebounded and the yield curve became steeper.
Express News | U.S. Energy Stocks Fall; Chevron Corp, Exxon Mobil Corp, Marathon Oil Corp, Schlumberger Down Between 1.6%-2.3%
U.S. Oil Growth Is Slowing. What's Next for Prices. -- Barrons.com
Growing U.S. oil production has played an enormous role in the energy market since the pandemic.
Crypto, Retail, and Oil Are Hot for Deals. Check These Stocks
It has been a mixed year for the mergers-and-acquisitions market so far. Overall volumes are down but certain sectors have been extremely active.
Market concerns are being triggered by the poor implementation of production cuts. OPEC+ urges member countries to make up for quota cheating.
In the effort to support the global oil market, OPEC+ is pushing member countries to make up for cheating on supply quotas. However, there is little indication that they are changing.
Oil Slips After U.S. Data Points to Cooling Economy
0816 GMT - Oil prices edge lower on a thinner trading day due to the Fourth of July holiday, in spite of softer-than-expected U.S. employment and business activity data fuelling optimism for future ra
Energy & Utilities Roundup: Market Talk
The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET. 0112 GMT - AGL Energy should continue to benefit from higher pow
Is the oil price driver here? Category 4 Hurricane Belial is advancing into Texas, threatening major US refineries.
The hurricane season in the Caribbean Sea is threatening the operation of major oil refineries in Texas, the largest oil-producing state in the United States.
Express News | Marathon Oil Corp : BMO Raises Target Price to $31 From $30