Prices for NYMEX WTI, ICE Brent, and DME Oman strengthened early in the week ending Nov. 24 amid expectations that OPEC+ would further cut production at its next meeting.
November 26, 2023
Prices were lifted on Monday by upbeat talk of demand strength and on Friday by news of new sanctions on entities shipping Russian oil that was sold above the G7's price cap.
November 19, 2023
Macro-economic concerns for China as well as Western nations led to sharp price plunges for NYMEX WTI, ICE Brent, and DME Oman.
November 12, 2023
Even though the conflict in the Middle East raged on, market participants were largely becoming less concerned about other oil-producing countries becoming involved.
November 05, 2023
Traders remained concerned about the possibility of supply disruptions due to the situation in the Middle East, but diplomatic efforts helped to ease some of the war jitters.
October 30, 2023
While day-on-day decreases were seen on Monday and Friday, prices were supported on Tuesday through Thursday by concerns about potential supply disruptions due to the war in Israel and by inventory drawdowns in the US.
October 23, 2023
The news of attacks on Israel on Oct. 7 and then reports on Oct. 13 that Israel was conducting ground raids in the Gaza Strip resulted in sharp price spikes on Monday and Friday.
October 16, 2023
After price pressure from profit taking and a strengthening US dollar early in the period, data from the US EIA on Wednesday painted a bleak picture for the domestic gasoline market.
October 08, 2023
A sharp jump in futures prices for NYMEX WTI and ICE Brent after US commercial crude stocks sank to a nine-month low brought the western crude benchmarks to highs not seen since Aug. and Nov., respectively, of 2022.
October 01, 2023
Even though supply concerns were exacerbated by a new ban on exports from Russia, futures prices for benchmark crudes saw week-on-week decreases for the first time in four weeks.
September 24, 2023
