crude

Drillers are packing up their gear, and investors should be paying attention, especially those invested in oil stocks. According to the latest Baker Hughes report, the number of international oil rigs (excluding North America) fell by six rigs in May to 653, marking the lowest count in two decades...

Oil prices are experiencing their fourth consecutive week of gains, driven by seasonal demand and record-breaking U.S. travel for the Fourth of July holiday. Additionally, crude has faced supply issues related to geopolitical tensions in the Middle East and disruptions from hurricanes in the...

While the investor spotlight remains fixated on tech and AI-related stocks, U.S. energy corporations have quietly embarked on a significant, albeit unnoticed, rally. The Energy Select Sector SPDR Fund (NYSE:XLE), a gauge for U.S. energy stocks, has posted a robust 16% rally from its January 2024...

The Group of Seven (G7) and its allies are working to disrupt Russia’s covert fleet of oil vessels, which the country has been using to bypass sanctions. The move is part of a broader strategy to limit Russia’s ability to trade its crude oil. What Happened: A senior official from the UK...

In a development that could have wider implications for the oil market, Saudi Arabia's state-owned Aramco has suspended its plan to boost its maximum crude production capacity. The decision comes against the backdrop of a shifting global landscape, with increasing concerns about the...

Could the price of oil potentially reach $100 per barrel? This question is currently at the forefront of investors’ minds in the current market landscape with WTI oil trading around $92 per barrel and Brent oil sailing above $95. This psychological milestone could be a cause for concern for a...

As crude oil prices surge, experts are starting to bet on a barrel of oil hitting the coveted $100 mark. Price premiums for physical oil barrels are skyrocketing across the globe, with supplies from various regions, including the Middle East, Azerbaijan, and Russia, commanding higher prices as...

A strong Chinese economy creates a virtuous cycle for ocean shipping. The manufacture of goods fills container ships and car carriers on the way out, and directly or indirectly drives demand for bulk commodities that fill bulkers and tankers on the way in. googletag.cmd.push(function() { var...

The International Energy Agency (IEA) has announced that global oil demand will reach its peak of 105.7 million barrels per day (mb/d) in 2028, during an existing decline initiated by the advance of electric vehicles (EVs). "The shift to a clean energy economy is picking up pace, with a peak in...

U.S. oil stocks are poised to capitalize on a tightening global crude market as a result of recent developments at the OPEC+ summit. The combination of Saudi Arabia's commitment to implement additional output cuts and the extension of voluntary cutbacks by OPEC+ nations has created a favorable...

Oil prices slipped during Monday morning Asian trade as concerns about demand at top oil-consuming nations U.S. and China negated positive factors like a reduction in oil supplies due to OPEC+ production cuts. West Texas Intermediate futures maturing in June were trading 0.46% lower at $69.72 per...

Exxon Mobil Corp. (NYSE: XOM) and Chevron Corp. (NYSE: CVX), the two largest oil corporations in the U.S. by market capitalization, are showing better-than expected earnings per share (EPS) and revenues, although the top lines softened from the preceding quarter.  Exxon shares were up 1.8%,...

To view more FreightWaves infographics, click here. Image by Mohamed Aly from Pixabay

Another busy week for investors and traders ahead in terms of eco-data earnings and overall potential market movers. Let’s take a market minute to get ahead of what’s to come. Investors and traders are exhibiting a bit of caution tied to concerns related to COVID infections on the rise...

  OPEC and its allies reached a deal on Sunday to raise oil production in response to rising prices, and phase out 5.8 million barrels per day of oil production cuts by the end of 2022, Bloomberg reports.  This comes after a two-week spat between Saudi Arabia, and the United...