The ongoing story of traders shifting focus between fears of a global recession and concerns about current supply tightness leaned to the bearish side over the week ending July 8.
July 11, 2022
The bears and bulls played tug-of-war throughout the week as traders shifted focus between ongoing concerns about aggressive fiscal policy causing an economic slowdown and ongoing concerns about tight supplies, with little indication that upstream output might increase any time soon.
July 07, 2022
NYMEX WTI and DME Oman futures prices lost ground over the week ending June 24 while ICE Brent was flat from the previous Friday as tightness on the supply side was overshadowed by concerns that a global recession could lead to demand destruction.
June 27, 2022
Crude futures prices were pulled down by concerns that aggressive fiscal tightening by central banks in the US, the UK, and Switzerland could lead to recessions in parts of the world.
June 20, 2022
Persistent projections that upstream producers as well as refiners will be unable to increase output rapidly enough to meet rising demand helped to push prices higher.
June 13, 2022
EU leaders finally hammered out an agreement to ban large volumes of Russian oil imports after weeks of negotiations.
June 10, 2022
The debate in Europe continued over how to get all EU member nations to agree to a bloc-wide ban on Russian oil imports, but sources indicated that the concerned parties were closing in on a deal during the week ending May 27.
May 31, 2022
Some analysts who are predicting a recession to occur either later this year or next year believe that the likely economic downturn would not be as severe as the 2008 or COVID-19-induced 2020 recessions, meaning that oil demand is likely to remain strong enough to support prices given the ongoing supply tightness.
May 23, 2022
While the coronavirus situation in China seemed to have improved somewhat over the week ending May 13, projections of struggles for economic growth kept the possibility of weakening demand in some traders' minds.
May 16, 2022
After negotiations during the week ending May 6 arrived at a plan that would allow certain countries to continue importing Russian crude beyond the end of this year, EU members are expected to agree to the winding-down of Russian imports.
May 09, 2022
