Page 14 - Tom Kool News Today

Crude prices fell more than 5% on Tuesday afternoon as a result of inflation fears and concerns about demand returned

Crude prices were on course for a small gain this week, but hawkish news from the Fed’s symposium at Jackson hole and the possibility of a breakthrough in Iran JCPOA negotiations forced crude prices lower

Russian crude oil and condensate production is on track for its first drop in four months

Crude soared on Tuesday morning after OPEC+ leaked that it may decide to cut output once again if, and when Iran makes a full comeback to oil markets

Uncertainty about the Iran nuclear deal and disappointing Chinese crude demand and refinery throughput are creating headwinds for crude

Crude prices fell on Friday morning, erasing some gains as traders remain cautious to go long on crude again

Saudi Arabia is reportedly planning to advocate for higher oil production at the next OPEC+ meeting, which is taking place later this week

It appears that bullish sentiment is creeping back into oil markets as traders open long positions on the belief that the selloff earlier this month was overdone

The spread between Brent crude oil prices and West Texas Intermediate (WTI) hit its widest level in over three years on Monday

While current volatility makes oil price forecasts difficult, the recent return above $100 suggests markets may once again be focused on fundamentals