Author: Tom Seng
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Bearish sentiments abound for crude prices
Oil, fundamental analysis Bearish sentiment for oil prices came in many forms this week as the specter of a ceasefire in the Russia/Ukraine war combined with a negative inflation report and a large gain in crude stocks sending prices lower on the week. The new sanctions on Russian oil exports are starting to show signs…
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Geopolitical factors in oil prices heat up
Oil, fundamental analysis Crude prices rose this week on an uptick in the geopolitical risk premium, promised stimulus packages in China, tighter sanctions on Russian exports, and another draw in feedstock inventories. On the flip side, OPEC cut its 2025 demand growth forecast for the 5th straight time while there was a substantial gain in…
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Crude prices slump as demand questions retake control
With the killing of a key Hamas leader and Israel’s pledge to not attack Iranian oil infrastructure, markets returned their focus to global demand concerns as OPEC analysts lowered their consumption growth forecasts leading to a sell-off that breached the key $70/bbl level for US crude. WTI traded between $75.10/bbl (Monday) and $68.95/bbl (Friday), a…