Oil Market

Oil prices fall on US-China tensions, weak factory data; crude inventories likely to increase in coming weeks

While global oil demand is expected to recover modestly from April lows as countries ease some lockdown measures, the glut created over months in storage facilities will loom over the markets.

Oil prices rise again as output cuts kick in to offset slump in fuel demand; US crude inventories grow less than expected

Oil prices gave up some of their earlier gains as the month of May began with more of the volatility that made last month one of the most turbulent in the history of oil trading, when US futures briefly crashed into negative territory.

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Oil hits lowest this century as coronavirus crisis hammers demand; lockdowns to cut fuel demand steeply

The falls follow two of the wildest days in the history of oil trading, with supply looking likely to outstrip demand for months to come.

Crude falls more than 10% to lows not seen since 1999; oil market under pressure due to weak fuel consumption, grim forecasts

The oil market has been under pressure due to a spate of reports on weak fuel consumption and grim forecasts from the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency.

Evidence of coronavirus' effect on US economy grows more ominous, will shrink 7% in 2020, predict economists

Retail sales—a primary driver of the US economy—are almost surely suffering further during April because business shutdowns will have been in effect for the entire month, compared with just half of March

Oil jumps as slowdown in new China coronavirus cases eases fuel demand concerns; OPEC, allies recommend to increase output cuts

The US Energy Information Administration (EIA) on Tuesday cut its global oil demand growth forecast for this year by 310,000 bpd as the virus outbreak crimps oil consumption in China.

Oil rises further above $62 as trade hopes support; crude inventories decline US hub

Concern about slower economic growth and oil demand due to the fallout from the 16-month US-China trade dispute sent prices lower on Monday.

Oil rises on Middle East tensions, glum demand outlook caps gains; IEA closely monitoring developments in the Strait of Hormuz

The oil market is currently well supplied, with oil production exceeding demand in the first half of 2019, pushing up global stocks by 900,000 barrels per day, the IEA said in a statement.

IIP at 1.7%, CPI at 2.57% in January: Growth slowdown disappointing, but wasn't unexpected; MPC may have reason to rush for rate cut

Industrial growth is an important indicator of the real sector as most of the GDP growth we have seen so far is due to services where the government plays an important role