Crude Oil: prices fall as Eurozone enters double-dip recession; setback is temporary, though

Oil price fell on Friday, ending the positive trend during the first four days of the week, perhaps due to the unexpected news from the Eurozone that the latter has slipped into double-dip recession; the block has entered the second recession in less than a year, the data confirmed. Europe is still …

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Crude Oil Markets: bullish sentiment returns with strong economic data from the US and China

Oil price is turning bullish despite the surge in Coronavirus infections in India, Japan, Brazil and Turkey. The devastating consequences, especially in India, are there for all to see. Although crude oil markets showed a significant anxiety over the development in India and Japan, the world’s third…

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Saudis to sell 1% stake in Saudi Aramco; OPEC+ ministerial meeting cancelled; Oil price bounces back

As the OPEC+ in a surprise move cancelled the ministerial meeting at the eleventh hour, by coincidence, Prince Mohamed bin Salman, the crown prince of Saudi Arabia known as MBS, gave a rare interview to a Saudi journalist on Tuesday. The crown prince heaped praise on the journalist at the outset, s…

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OPEC+ Meeting Tomorrow: is outcome, a foregone conclusion?

The next monthly, virtual meeting of the members of the OPEC+ is going to take place tomorrow. Unlike in the run up to the previous meetings, the enthusiasm among the analysts about the latest meeting is somewhat subdued, perhaps sensing that the outcome is just a foregone conclusion. At the end of …

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Wheat price goes up as oil price falls, being true to old cliche: one man's loss is anothre man's gain!

With the unprecedented surge in Coronavirus infections in India, exacerbated by the lack of medical oxygen in hospitals and the scarcity of beds, the oil price fell on Monday, having been subjected to the inevitable volatility in the markets. Making matters worse, the pandemic situation in Japan als…

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Oil Price: strong Euro zone economic recovery and Weaker dollar push the price up

Oil prices did not fall precipitously as expected due to the surge of Coronavirus infections in India and Japan, the world’s third and fourth largest consumers respectively. Of course, the situation in India is very grim in terms of the exponential increase in the number of infections, relatively hi…

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Oil Price: two key meetings soon that affect the crude oil markets

Two key meetings are going to take place next week that will be crucial to crude oil markets in the long run. In Vienna, the Austrian capital, the meeting of the signatories of the JCPOA – Joint Comprehensive Plan of Action – also known as 2015 Iranian nuclear deal will resume next week. Having start…

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Grim Pandemic Statistics in India and Japan Worry the Crude Oil Markets

The rising Covid-19 infections – and deaths – in both India and Japan have dampened the positive sentiment that we saw at the beginning of the week in crude oil markets. The fall in crude oil price for the third successive day clearly reflects the anxieties felt by the investors over the state of af…

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Iranian 2015 Nuclear Deal: Iran wants 1600 sanctions lifted - all at once!

The discussions between Iran and the signatories to the JCPOA, Joint Comprehensive Plan of Action, also known as 2015 nuclear deal, continue in Vienna, the Austrian capital. Although there was some speculation of a breakthrough last week, a new impasse appears to have emerged, according to Iranian n…

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Oil Price: recovery in a year since the Great Oil Crash

It has been a year since textbooks on fossil fuels were revised, adding an indelible bookmark to the contents that span decades; the crude oil price crashed on April 20, 2021 with price going to negative for the first time ever – something that has never happened in the history of oil trading. Nor w…

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Oil price dips: concerns about Coronavirus infections in Asia worry markets

The crude oil price fell on Monday despite the emergence of multiple factors to the contrary. The strong growth figures in the US and China, the two top global consumers of crude oil were in favour of a rise in demand: China’s crude oil imports rose in direct proportion; in the US, meanwhile, the cru…

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Reviving the 2015 Iran Nuclear Deal: Iran and negotiators are upbeat about a breakthrough

There are positive signs emerging from the current meetings between Iran and the signatories to the 2015 nuclear deal that take place in Vienna, the Austrian capital. According to the media reports, the delegates from the United Kingdom, Russia, Iran, Germany, France and China are continuing with th…

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Oil Price: the weekly price is up with strong Chinese and US economic data

Oil price recorded a rise this week, having been on a downward trend for weeks. The main pushing factor has been China’s impressive economic growth, coupled with its ability to control the pandemic, despite being the epicentre of the catastrophe, last year. All indications are that it’s full steam a…

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China and Japan get the crude oil demand on track; pandemic concerns in Asia remain serious, though

Despite the rising infections across Asia, especially in India, the crude oil imports have been rising in the region, according to the latest news from Singapore. According to the same source, there have been heightened activities at refineries in both China and Japan in proportion to the growth pro…

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Oil Price: planes are back in the skies; jet fuel consumption picks up

According to the latest data from the EIA, US Energy Information Administration, the US crude oil inventories recorded their biggest drop in two months – a fall by 5.89 million barrels. With that, three major global agencies that analyse all aspects of the realm of energy finally emerged with a sin…

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With the next OPEC+ ministerial meeting just two weeks away, OPEC+ expressed optimism about the future demand of crude oil, having maintained what Saudis used to call, cautious optimism, for months. Citing the latest growth figures from China, along with its export and import figures, the organizati…

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Weaker US dollar pushes the oil price up - modestly

The oil price, which entered the green zone on market charts on Monday, continues to stay that way, but with relatively modest increases in price. The momentum that we saw on Monday, especially in the Asian markets, has clearly slowed down. Analysts were bracing themselves for a big impact on the ma…

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Crude Oil Price: did 'inflection point' remark by Jay Powell, Fed Reserve Chief, affect the markets?

Those of us who are very much familiar with the terms such as inflation, growth and even the dreaded recession from economists during volatile periods, heard a less-familiar term on April, 4, from Jay Powell, the Chair of Fed Reserve. Mr Powell, speaking on CBS’s 60 Minutes programme, said that the …

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What caused the downward trend in crude oil price?

Weekly crude oil price, that showed an upward trend up until March, 2021, has suddenly turned downward, when 3-point-moving averages are taken into account. This is not something that analysts anticipated, especially when there are clear signs of global demands going up. Moreover, in the US, there w…

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Waiting in the Wings for Crude Oil: China and India to go on buying sprees, if sanctions against Iran are lifted

With the encouraging indications, both from the US and Iran, about the revival of 2015-nuclear-agreement, the world’s second and third consumers of the crude oil are pinning their hopes on a positive outcome in a matter of weeks, not many months. Both the US and Iran have shown some flexibility rece…

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EIA sees a brighter future for crude oil markets

The EIA, US Energy Information Administration, in its latest report depicts an optimistic picture about the future of the crude oil market. It certainly has helped the oil markets to keep up the momentum despite emerging challenges on many fronts. The resurgence of the Coronavirus pandemic is still a…

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