Key Takeaways: *Crude oil prices rallied amid improving global risk sentiment and optimism over U.S. trade deals with the U.K. and China, boosting expectations for stronger energy demand. *OPEC+ production increases remain a key supply-side risk, with output rising by 411,000 barrels per day in June, reversing nearly half of previous cuts …
Fundamental Analysis * Crude oil prices edged higher after the United States imposed sanctions on a Chinese refinery, escalating efforts to curb Iranian oil exports. The US specifically targeted Shandong Shouguang Luqing Petrochemical Co. and its CEO for allegedly purchasing Iranian oil, raising fears of potential supply disruptions. As a result, investors …
Fundamental Analysis * Oil prices continued their decline for the second straight session as escalating U.S. tariff concerns on Canada, Mexico, and China raised fears of a global economic slowdown, potentially weakening energy demand. Meanwhile, OPEC+ signaled plans to increase oil production from April, though Russia’s Deputy PM Alexander Novak stated that …
Fundamental Analysis * Trump Turmoil: West Texas Intermediate (WTI), the U.S. crude oil benchmark, remains under selling pressure as concerns grow over weaker energy demand and President Donald Trump’s tariff policies. Trump’s plans to impose higher tariffs have likely heightened inflation fears at the U.S. Federal Reserve (Fed), potentially reinforcing the central …
Fundamental Analysis * Ceasefire Chill: Crude oil prices have dipped amid expectations of a halt in Houthi attacks on shipping in the Red Sea, following a ceasefire agreement in the Gaza conflict between Israel and the militant group Hamas. Maritime security officials stated on Thursday that the Houthi militia is likely to …
Fundamental Analysis * Surging Conflict: Crude oil prices, traded in dollars, surged to a two-week high as the escalating war in Ukraine heightened the market’s geopolitical risk premium. The conflict intensified after Britain and the U.S. authorized Kyiv to carry out deeper strikes into Russian territory using their missiles. In response, President …
Fundamental Analysis * Surprise Draw: The price of the US crude benchmark WTI, has regain some ground and rebound from losses following an unexpected drop in U.S crude storage. According to the Energy Information Administration (EIA) report on Wednesday, crude inventories for the week ending May 3 fell by 1.4 million barrels …
On Wednesday, the U.S Energy Information Administration reported an increase in crude inventories by 2.42 million barrels, close to the market expectations of 2.46 millions barrels. This is the third consecutive crude inventory build, coming after an outsized 4.14 million last week. This makes it a rough 4% above the 5-year average …
Dear Valued Client, PU Prime are happy to announce that our WTI Crude Oil Cash (USOUSD) will be optimised on 8th December 2022. This would provide clients with more stable quotations and a better trading environment. Important: There might be a slight pricing difference after the optimisation. We recommend that clients monitor …
Dear Valued Client, PU Prime are happy to announce that our Brent Crude Oil Cash (UKOUSD) will be optimised on 8th November 2022. This would provide clients with more stable quotations and a better trading environment. Important: There might be a slight pricing difference after the optimisation. We recommend that clients monitor …
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