(27/3/2023) ENERGY International and domestic crude oil futures ended weaker on Friday on worries over European banks and after U.S. Energy Secretary said refilling the country’s Strategic Petroleum Reserves may take several years, dulling demand. • Data from Baker Hughes showed U.S. oil rigs rose 4 units to 593 lastContinue Reading
ENERGY International and domestic crude oil futures ended weaker reversing early gains. Limiting downside, gasoline futures hit a 10-day high on Thursday after the U.S. EIA said stockpiles of the product fell last week by the most since September 2021. U.S. NYMEX Gas and domestic futures extended losses on ThursdayContinue Reading
ENERGY International and domestic crude oil futures settled lower Friday, reversing early gains as banking sector crisis could lead to a recession in turn denting demand. Meanwhile, downside was capped amid supply concerns and oil rigs fell by 1 unit to 589 last week. Data from CFTC showed speculators raisedContinue Reading
ENERGY International and domestic crude oil futures tumbled on Wednesday’s trade on concerns that a crisis in the banking sector could trigger a recession and cut demand. • NYMEX WTI fell over 5%, Brent crude oil prices tumbled over 4%, while domestic crude oil futures fell over 7% on Wednesday.Continue Reading
ENERGY • International crude prices fell on Tuesday as lingering concerns about a recession-driven demand downturn offset prospects of tighter global supplies. • Domestic futures also ended weaker on Tuesday’s trade tracking weak global markets. • The Dollar also ended with gains on Tuesday and weighed on prices. • Furthermore,Continue Reading