It is exactly four months since the historic oil price crash that sent crude prices into negative territory for the first time ever. Since then, WTI and Brent prices have made a nice recovery journey to trading at five-month highs. Optimism is slowly returning to the oil markets thanks to …
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Oil trade has been on the decline these past few weeks as conflict data pulls prices in different directions. But, according to some, a correction may be underway. Reuters’ John Kemp noted in its weekly column on fund trading that market movers last week were relatively indifferent to oil futures, …
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FATHI NASRI / Getty The International Energy Agency lowered its global forecasts for oil demand for 2020 and 2021 over expectations of a further decline in air travel. Although there has been a recovery in business and industrial activity, the agency has not shyed away from its estimate. The Paris-based …
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The American Petroleum Institute (API) on Tuesday reported a mark in crude oil inventories of 4,401 million barrels for the week ending August 7. Analysts had forecast a modest inventory drawing of 2,875-million tons. Last week, the API reported a man-made drawing in crude oil inventories of 8.587 million barrels, …
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US banking giant Goldman Sachs says it expects S&P 500 earnings per share to fall 60% in the second quarter, the biggest decline since 2009 during the financial crisis. “If realized, EPS growth in 2Q 2020 would be the weakest since 4Q 2009,” analysts said, noting that EPS fell 65% …
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