Oil prices rose early on Monday, with WTI Crude topping $60 a barrel for the first time in a week after the Fed chair Jerome Powell said that the outlook on the U.S. economy had “brightened substantially.” As of 9:32 a.m. EDT on Monday, WTI Crude prices were rising by 1.97 percent at $60.50, and Brent Crude was up […]
Last week’s surprise decision from OPEC+ to ease the production cuts by a cumulative 2 million barrels per day (bpd) by July relies on expectations of robust oil demand recovery in the second quarter. Yet, recent demand concerns suggest the alliance’s supply management policies could once again be more in the realm of guestimates. The […]
Oil prices rose early on Tuesday along with rallies in other commodities and equities globally, following encouraging economic reports out of the United States and China and increased forecasts for the global economy this year and next. As of 9:37 a.m. EDT on Tuesday, WTI Crude was back up above $60 a barrel, rising by 2.42 percent […]
Crude oil could hit $100 and top it, and this could happen before this year’s end, according to Craig Johnson from investment bank Piper Sandler. Speaking to CNBC, Johnson said, “I could actually see a number that could be north of 100 in the next, say, six to … 12 months from here,” noting the […]
Goldman Sachs is now even more bullish on oil, expecting Brent Crude prices to hit $75 a barrel in the third quarter this year, on the back of faster market rebalancing, lower expected inventories, and traders hedging against inflation. In a note on Sunday, cited by Forexlive, the investment bank’s analysts forecast Brent Crude prices reaching the $70 […]