HOMAIN Heating Oil Futures(AUG4)
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Heating Oil Futures(AUG4) News
WTI Trades With Mild Negative Bias Around $81.00 Mark, Bullish Potential Seems Intact
WTI edges lower amid a modest USD strength, albeit lacks follow-through selling.
Oil to Notch Weekly Gain as US Stockpile Draw Encourages Bulls
Oil headed for the first back-to-back weekly gain since early April as a surprise draw in US inventory levels, coupled with signs of robust product demand, signaled buoyant conditions in the world’s top consumer.
Crude Oil Climbs Again, WTI Marches Toward $82 After EIA Barrel Count Declines
WTI edged into fresh highs near $81.40 as energy markets hope for drawdown.
Crude oil product closes on hopes of interest rate cuts strengthened by employment data, lower crude oil inventories, and continued price increases.
On Thursday, June 20, the US Energy Information Administration (EIA) reported a decline in crude oil inventories. The data showed that a cooling job market raised hopes of a possible Fed interest rate cut, which led to an increase in crude oil futures prices.
The "tonic" for oil bulls has arrived! The number of tourists traveling during the American Independence Day holiday may reach a new historical high.
According to the American Automobile Association's estimate, the number of people traveling during the Independence Day holiday in the USA is expected to reach a historical high of 71 million, which is expected to boost fuel demand and tighten the oil market.
Crude Oil Tests Higher Ground on Quiet Wednesday, WTI Touches $81.00
Barrel bids tested into fresh peaks on Wednesday, but remain subdued.
Crude oil product prices rose and fell under the influence of demand expectations and risk aversion, reaching a seven-week high and then falling.
On Wednesday (June 19), the optimism of summer demand, concerns over escalating conflicts, and the unexpected increase in US inventories have dampened investors' optimism (related to the rise of US stocks), causing oil prices to fall after hitting a seven-week high.
Midday crude oil analysis: Brent crude oil remains stable under storm warning, with premium signals in the North Sea market.
Under the tropical storm warning along the Gulf Bay, Brent crude oil futures fluctuated slightly in the Asian market, with a spot premium in the North Sea market.
Crude oil products closed higher with a more than 1% increase in oil prices due to increasing geopolitical risks.
Due to escalated tensions in Europe and the Middle East on Tuesday (June 18), oil prices closed up over 1%. Geopolitical risks in these two regions continue to pose a threat to global crude oil supply.
Oil demand is in danger! Bank of America warns that a global surge in inventory could lead to an oil price collapse.
The latest report from Bank of America strategist shows that the oil market may face a turbulent year.
Crude Oil Snaps Higher as Hopes of Rising Demand Continue to Bolster Barrel Bids
WTI climbs to $80 per barrel as energy markets hope for summer demand uptick.
Express News | Bank of America: If inventories continue to grow rapidly, crude oil prices will fall.
There are signs of tightening supply and increasing prices in the European diesel market.
The European diesel market is showing signs of tightening.
WTI Holds Its Position Above $77.50 Due to Optimistic Demand Forecasts
WTI Oil price retraces its recent losses due to optimistic forecasts regarding crude demand for the remainder of 2024.
Energy perspective showdown: OPEC Secretary-General personally counterattacks the IEA's "oil excess theory".
The International Energy Agency predicts that by 2030, the total global oil supply capacity will approach a daily average of 114 million barrels, which is 8 million barrels higher than demand. Gates said that by 2045, the daily demand for oil in developing countries will increase by 25 million barrels due to billions of people needing basic services such as electricity, gas, and transportation.
Express News | OPEC confronts the IEA: Long-term forecast shows that petroleum demand will not peak.
Citigroup, the 'big short' in the oil market, continues to be bearish and predicts that oil prices will fall to $60!
In its latest report, Citigroup directly recommended investors to short sell on rallies!
Going against Goldman Sachs! Citigroup is bearish on oil prices, predicting a fall to $74 in the fourth quarter.
Citigroup's latest report paints a bleak picture of the oil market.
Crude oil product analysis at noon: Brent crude oil fell in early trading, mainly affected by two factors.
Due to the increase in crude oil inventories in the United States and the Federal Reserve's decision to maintain interest rates, which indicates a rise in borrowing costs, ICE Brent crude oil futures fell slightly in today's Asia morning trading.
Crude oil trade reminder: Middle East tensions push up oil prices, but the Federal Reserve's attack has hit bullish morale.
Oil prices rose and fell on Wednesday, supported by continued tensions in the Middle East. Earlier in the day, oil prices rose nearly 2% to a two-week high, but closed mostly higher as the Federal Reserve's two-day meeting ended with a statement indicating that interest rate may not be lowered until December.