In February, Russia declared its plan to reduce oil production by 500kb/d in March due to the price caps imposed by the West on Russian oil and oil products. However, implementing this pledge was only partially done during the spring. Therefore, the announcement made by Russia in early July to further decrease oil exports by […]
Freight Management
Freight Management
Freight Management
02
Aug
Aug
OPEC+ unlikely to change its oil output policy on August 4
Citing six OPEC and its allies (OPEC+) sources, Reuters reported on Wednesday, the alliance is expected to make no changes to its current oil output policy when they meet on Friday, August 4. Additional takeaways “The committee would probably not make any changes to existing policy during Friday’s online meeting.” “Rising oil price is a reason […]
05
Jun
Jun
Commodities Forex Freight Management Futures Geopolitical Industry News Latest News Middle East Our Blog Technical Analysis
WTI crude oil surpasses $75 amid OPEC+ and geopolitical events, despite firm USD
WTI crude oil pares intraday gains around $73.20, after the week started with a gap towards the north, as headlines suggesting challenges to the Oil output contrast with the US Dollar’s run-up. Also likely to weigh on the black gold could be the cautious mood ahead of the key China and US data, as well as the […]
19
May
May
WTI Price Analysis
WTI crude oil picks up bids to print 0.50% intraday gains near $72.50 as it appears well-set to snap a four-week downtrend amid early Friday. In doing so, the black gold rises inside a one-week-old symmetrical triangle. Given the quote’s successful trading past an upward-sloping trend line from the last Wednesday, near $71.95 by the […]
08
May
May
Commodities Conflict Economic News Forex Freight Management Futures Geopolitical Industry News Latest News Middle East
Oil prices creep higher as recession fears begin to fade
SINGAPORE (Reuters) -Oil prices rose slightly on Monday as traders remained cautious despite receding fears of a recession in the U.S., which drove prices down for three straight weeks for the first time since November. Brent crude futures were up 11 cents, or 0.2%, at $75.41 a barrel at 0252 GMT. U.S. West Texas Intermediate (WTI) […]
04
May
May
Commodities Currencies Forex Freight Management Futures Geopolitical Industry News Latest News Middle East Our Blog
Chart of The Day OIL.WTI
Oil prices, including Brent and WTI, dropped more than 5% after yesterday’s FED meeting regarding interest rates. Oil.WTI dropped below $69 – the lowest level since March 24, 2023. Prices fell from $71.5 per barrel to as low as $63.6 per barrel. However, prices have rebounded slightly from lows. Higher volatility was caused by rising concerns about […]
28
Apr
Apr
Commodities Forex Freight Management Futures Geopolitical Industry News Latest News Middle East Our Blog
Oil prices wallow under $80, set for fourth straight month of losses
Oil prices moved little on Friday after logging steep losses this week, and were set to close a fourth consecutive month in negative territory level as fears of slowing economic growth and demand largely offset tightening supply. Markets saw little relief as data showed U.S. economic growth slowed more than expected in the first quarter of 2023, […]
28
Apr
Apr
Commodities Economic News Forex Freight Management Futures Geopolitical Industry News Latest News Middle East Our Blog
Oil set for second weekly drop as recession fears, rates cloud outlook
TOKYO (Reuters) – Oil prices were little changed on Friday but are set for their second weekly drop as disappointing economic data from the U.S., the world’s biggest crude user, and uncertainty on further interest rate hikes raised concerns about future fuel demand. Brent crude futures for June were trading at $78.53 a barrel, up 16 […]
27
Apr
Apr
Central Banks Conflict Currencies Forex Freight Management Futures Geopolitical Industry News Latest News Our Blog
Yuan overtakes dollar to become most-used currency in China’s cross-border transactions
SHANGHAI (Reuters) – The yuan became the most widely-used currency for cross-border transactions in China in March, overtaking the dollar for the first time, official data showed, reflecting efforts by Beijing to internationalise use of the yuan. Cross-border payments and receipts in yuan rose to a record $549.9 billion in March from $434.5 billion a […]
26
Apr
Apr
Commodities Conflict Economic News Forex Freight Management Futures Industry News Latest News Middle East Our Blog
Oil closes bullish price gap triggered by surprise OPEC+ output cut
⛽ Oil closes bullish price gap triggered by surprise OPEC+ output cut Brent and WTI are trading almost 1% lower today. Brent (OIL) dropped below $80 per barrel for the first time since March 31, 2023. This means that price has finally closed a massive bullish price gap that was triggered by an unexpected OPEC+ […]