Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $88.25 mark so far on Thursday. WTI prices pullback from the 10-month high amid the unexpected surge in US inventories and the renewed USD demand. US crude oil inventories increased by nearly 4M barrels for the week ending September, the first rise […]

Open interest in crude oil futures markets increased for the fifth session in a row on Thursday, now by around 12.6K contracts according to preliminary readings from CME Group. Volume, instead, shrank for the second straight day, this time by around 188.1K contracts. WTI: Resistance emerges around $88.00 WTI prices came under some downside pressure on […]

Natural Gas price is breaking higher as European Gas Futures are leading the charge, rallying up 7%. Traders are in the dark on what the current situation is in Australia at Chevron’s LNG facilities. Union representatives are holding discussions on whether to delay partial strike actions by another day later this Thursday. Any headline around […]

The recent voluntary extension of oil supply cuts by Russia and Saudi Arabia until the end of 2023 has had a notable impact on global oil prices. These two major oil exporters have been instrumental in tightening the oil market, a move that analysts see as bullish for prices. After the announcement, Brent crude futures rose by […]