The Currency analytics
By Julie Binoche
WTI oil fell hard Thursday. West Texas Intermediate crude hit $64.80 in Asian markets after gaining about 1% the day before, but traders got spooked when the Energy Information…
The EIA data showed crude stocks jumped by 2.4 million barrels last week. That's a big problem since analysts were expecting inventories to drop by around 1 million barrels…
Traders didn't waste time. Selling picked up fast.
Recent data points to weaker demand growth ahead, and that's hitting oil prices directly. China's economic signals are all over the place - some sectors look decent while others…
OPEC and its allies are watching these developments closely. The extended producer group known as OPEC+ recently said they're sticking with production cuts to keep the market…
Geopolitical tensions add more complexity. Middle East and Eastern Europe events keep traders on edge, though it's tough to pin down exactly how much these factors move prices…
Hedge funds and speculators are adjusting positions as uncertainty over Federal Reserve policy creates cautious sentiment.
Brent crude mirrors WTI's drop, trading near $68 per barrel. Both benchmarks face similar supply worries and global market conditions that aren't exactly encouraging right now.
The International Energy Agency plans to release its monthly report next week. That could provide more clarity on international supply and demand trends, though traders aren't…
U.S. shale producers are watching closely. ExxonMobil and Chevron have said before they'll adjust production based on market conditions.
The February 12 impact hit European and Asian markets too. European traders took a cautious approach, with many waiting for more clarity from upcoming OPEC meetings.
Goldman Sachs analysts think any Fed rate changes could influence oil demand forecasts for coming months. More uncertainty for traders already dealing with volatile conditions.
Royal Dutch Shell announced on February 11 it's reviewing current production strategy because of volatile market conditions.
India is reportedly considering increasing strategic petroleum reserves. The government is evaluating options to boost reserves given potential supply disruptions and price…
No comments yet from major oil producers about output plan adjustments. The next big OPEC meeting is scheduled for early next month, where production levels may get re-evaluated.