The geopolitical-risk premium was once again in effect for NYMEX WTI, ICE Brent, and DME Oman futures due to logistics issues related to shippers rerouting vessels to avoid the Suez Canal.
December 24, 2023
A big day-on-day price increase on Thursday after the IEA revised its demand forecast upward led to modest week-on-week upticks for NYMEX WTI and ICE Brent.
December 17, 2023
Doubts about how much production OPEC+ members will actually cut as well as bearish sentiment on the global economy continued to weigh on futures prices for benchmark crudes.
December 10, 2023
Prices for NYMEX WTI, ICE Brent, and DME Oman got some support on Tuesday and Wednesday from a supply disruption in the Black Sea.
December 05, 2023
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
