Crude-Oil Futures End Week With Small Gains -- Market Talk
Nymex Overview: October WTI Rises Above $70/bbl, But Backs Off at Midday -- OPIS
Macquarie: The global oil market is expected to face "severe oversupply" by 2025.
According to the McKinsey supply and demand equilibrium forecast, the oil market will face a serious supply surplus in the next five quarters, triggering a situation similar to a 'price war', and oil prices may fall to around $50 per barrel.
Crude Futures On Track For Modest Weekly Gains -- Market Talk
Oil on Track for Weekly Gains After Global Benchmark's Dip Below $70 a Barrel
WTI Rises to Near $68.50 Due to Output Disruptions in the US Gulf of Mexico
Oil Prices Extend Recovery Rally To Cap Volatile Week
Crude Oil Extends Rebound Amid Concerns About Impact of Francine Tropical Storm on US Production
Oil Price to Average $60 in 2025, Citigroup Says
WTI Holds Position Near $66.50 as Demand Concerns Offset Hurricane Francine Impact
The hurricane prompted short covering of crude oil positions, and the inventory of crude oil at Cushing continued to decline, with US oil rising 3% at one point during the session.
Hurricane Francine threatens the state of Louisiana in the USA. Some oil facilities in the Gulf of Mexico have been shut down, causing a pause in the sharp decline in oil prices since late August. Data from the same day shows that EIA crude oil inventories unexpectedly increased last week, but Cushing crude oil inventories have decreased by millions of barrels. Goldman Sachs analysts pointed out that bears have been heavily shorting Brent crude oil recently.
NYMEX Overview: Petroleum Futures Bounce Back But Demand Worries Stunt Rally -- OPIS
US Total Crude Oil Stocks Rebound in Week Ended Sept. 6
Gas Prices Plummet, Helping Lead Inflation Cooldown in August
Oil Futures Pick Up on Hurricane, Report of U.S. Crude Stock Draw -- Market Talk
Oil Prices Bounce, Lifted by Drop in Crude Inventories and Hurricane Francine
Energy Stocks Erase 2024 Gains as Brent Dips Below US$70
Worse than the financial crisis and the COVID-19 pandemic! Illustration: To what extent has the oil market collapsed?
① As global benchmark Brent crude oil fell below $70, oil prices have reached their lowest level since December 2021; ② In fact, what is even more alarming to market participants than the sharp decline in prices may be the popularity of the crude oil market.
Oil Prices Tumble to Their Lowest Level Since 2021 -- WSJ
EIA Predicts Oil Prices Will Recover in 4Q on Inventory Draws