- From speculatorsanonymous.com|3 hr ago
The oil price has taken a beating over the last year. Brent crude oil – used to set the price of about two-thirds of the world’s internationally traded oil supply – hit a cycle peak of $122 per barrel in June 2022. And is now $76. That’s a roughly 36% decline in one year. But I’m not surprised. In fact, I’ve argued for months that oil would sink lower amid ...
- From bnnbloomberg.ca|2 hr 38 min ago
With an uncertain picture on oil supply and demand, traders are searching for any clear clues on where the market is headed. On Sunday, Saudi Arabia announced unilateral cuts to crude production, on top of already pledged reductions in output that it is making alongside other producer nations. Oil futures initially rose, then fell again because the market ...
- From pimco.com|26 min ago