Mid-Week Market Review: November 2024, Edition 3
Commodities Crude oil prices saw a modest increase on Wednesday as tensions in the Ukraine conflict intensified, alongside signs of rising crude imports by China. As of 10:06 AM, Brent Crude rose 0.66%, reaching $73.794 per barrel, while West Texas Intermediate (WTI) crude increased by 0.81% to $69.802 per barrel. The escalation of the war […]
Mid-Week Market Review: November 2024, Edition 2
Commodities In the oil market, traders are keenly awaiting a series of crucial US economic indicators this week, with the October Consumer Price Index (CPI) due for release later today. Comments from Federal Reserve Chair, Jerome Powell, along with remarks from other key officials, are also expected to shape market sentiment. Oil prices remained near […]
Mid-Week Market Review: November 2024, Edition 1
Commodities Last week, oil prices saw a slight uptick on Friday due to reports indicating that Iran was preparing a retaliatory strike against Israel from Iraq. Despite this, Brent crude recorded a weekly decline of approximately 3.35%, while WTI fell by about 3.19%. The market’s focus shifted back to the U.S. presidential election and ongoing […]
Mid-Week Market Review: October 2024, Edition 5
Commodities Last week, oil prices concluded the week on a positive note, with gains noted on Friday. Brent crude rose by 4.64% for the week, while West Texas Intermediate (WTI) climbed 4.50%. Despite experiencing fluctuations throughout the week—initial increases on Monday and Tuesday followed by drops on Wednesday and Thursday—both benchmarks demonstrated resilience amidst ongoing […]
Mid-Week Market Review: October 2024, Edition 4
Commodities The Energy Information Administration (EIA) reported last Thursday that U.S. crude oil production hit an all-time high, even as stockpiles of crude, gasoline, and distillates saw declines. For the week ending October 11, crude inventories fell by 2.2 million barrels to a total of 420.6 million barrels, while stocks at the Cushing delivery hub […]
Mid-week Market Review: October 2024, Edition 3
Commodities Libya’s National Oil Corporation (NOC) announced last Friday that it has resumed oil production to pre-crisis levels, now reaching 1.25 million barrels. This recovery follows a recent disruption linked to a crisis within the country’s central bank. On the same day, oil prices for Brent and WTI Crude closed lower, but still marked a […]
Mid-Week Market Review: October 2024, Edition 2
Commodities Oil prices lost early gains on Wednesday as weak demand and rising supply offset concerns over potential disruptions from Middle East conflicts and Hurricane Milton in the U.S. In the early hours of today, Brent crude futures was seen to have dropped by 0.47% to $76.82 per barrel, while U.S. West Texas Intermediate (WTI) […]
Mid-Week Market Review: October 2024, Edition 1
Commodities On Friday, oil prices closed on a positive note, although they recorded a weekly decrease. We saw the Brent crude benchmark fall by about 3% over the week, while WTI crude had a steeper drop of around 5%. In the U.S., some Gulf of Mexico operators have restarted operations after Hurricane Helene struck Florida […]
Mid-Week Market Review: Alternative Assets and Commodities. Vol. 114.2
Commodities Last Friday, although oil prices dipped slightly, their performance marked a second consecutive week of gains. This upward trend is somewhat constrained by the sluggish state of China’s economy. Despite the recent downturn, both major benchmarks – Brent and WTI Crude Oil – saw a rise of over 4% in the week, a notable […]
Mid-Week Market Review: Alternative Assets and Commodities
Commodities Yesterday, oil prices surged by $1 per barrel. Several considerations have been credited to this recent development, some of them including the ongoing interruptions with the supply of oil and market expectations of increased demand if the Federal Reserve lowers its benchmark interest rates at the end of the meeting today. Following Hurricane Francine […]