(Investing) – HOUSTON -Oil prices ticked higher on Tuesday but remained near four-year lows as recession fears exacerbated by trade conflict between the United States and China, the world’s two biggest economies offset a recovery in equity markets. Brent futures were up 66 cents, or 1.03%, at $64.87 a barrel at 10:13 a.m. EDT. U.S. West Texas Intermediate crude futures rose 75
(World Oil) – The Railroad Commission of Texas on Friday released its figures for March drilling in the state, showing a noticeable gain over the previous month’s number. The overall figure also tied the level achieved in January. RRC figures show 1,072 new drills recorded during March (up 27.5%), including 818 oil wells, 246 gas wells and eight dry holes. This
(Oil Price) – Higher risks of recessions and higher-than-expected OPEC+ production prompted Goldman Sachs to slash again its oil price forecasts for 2026, days after it had already cut its price outlook in the wake of the U.S. tariffs announcement last week. Goldman Sachs’s analysts issued a new note dated April 6, in which they slashed their 2026 oil price forecasts
(Investing) – Citi Research on Monday lowered its 0-3 month Brent price forecast to $60 per barrel and also reduced its 0-3 month copper and aluminium price forecasts to $8,000 per metric ton and $2,200 per ton, respectively due to the latest tariff announcements. Last week, U.S. president Donald Trump imposed a 10% baseline tariff on all imports to the U.S. and higher duties on
(World Oil) – Key OPEC+ nations reiterated the need for members to stick to oil output quotas after the group’s surprise decision to speed up an output revival battered crude prices. The Joint Ministerial Monitoring Committee noted that some OPEC+ members failed to fully observe their limits or deliver extra curbs pledged as compensation for over-producing, according to a statement on
(Investing) – LONDON -Oil prices extended losses on Monday, falling around 2% as escalating trade tensions between the United States and China stoked fears of a recession that would reduce demand for oil, while OPEC+ readies a supply increase. Brent futures were down $1.17, or 1.78%, to $64.41 per barrel at 1303 GMT, and U.S. West Texas Intermediate crude futures were down
(BOE Report) – Goldman Sachs lowered its forecast for Brent crude’s average price this year by 5.5% to $69 a barrel and for WTI prices by 4.3% to $66, citing the risks of higher OPEC+ supply and the global trade war triggering a recession. The Wall Street brokerage also chopped its 2026 average price forecast for Brent by 9% to
(Oil Price) – ExxonMobil expects its first-quarter earnings to be higher than in Q4 by up to $2 billion, thanks to higher oil and gas prices and rising refining margins. Exxon’s earnings in the upstream segment could be up to $900 million higher in the first quarter compared to the fourth quarter of 2024, due to higher oil and gas prices
(Investing) – Oil prices have plummeted to their lowest levels in more than three years, as China retaliates against President Trump’s tariffs, intensifying the ongoing trade war and unsettling global markets. Brent Oil Futures dropped 7.6% to $64.86 a barrel at 14:05 GMT, while Crude Oil WTI Futures fell 8.4% to $61.34 a barrel. “We leave our forecasts unchanged until further clarity emerges, sticking with
(Investing) – BEIJING/LONDON -China placed export restrictions on key rare earth elements on Friday as part of its sweeping response to President Donald Trump’s tariffs, potentially squeezing supply to the U.S. and the West of minerals vital to everything from defense to electric cars. China produces around 90% of the world’s refined rare earths, a group of 17 elements used across
(Investing) – HOUSTON -Oil prices fell on Thursday as the decision by the OPEC+ group to speed up its unwinding of oil output cuts in May compounded already heavy losses following U.S. President Donald Trump’s announcement of sweeping new tariffs. Brent futures were down $5.33, or 7.11%, at $69.62 a barrel by 1504 GMT. U.S. West Texas Intermediate crude futures were down
(Investing) – LONDON – Eight OPEC+ countries meeting on Thursday will focus debates on how to convince Kazakhstan to stop exceeding its output quota and its plans to compensate for overproduction as the group steps up gradual production hikes, two delegates told Reuters. Record Kazakh output has angered several other members of the group, including top producer Saudi Arabia, sources have
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