Global Oil Prices

Crude oil prices near 2-month lows. What’s next?

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Crude oil prices near 2-month lows. What’s next?

Oil prices dropped to a near two-month low on receding tensions in the Middle East, a complex interplay of escalating supply levels, demand worries, and challenging economic indicators. The global benchmark, US WTI crude currently clinging below $80 a barrel, has lost more than 10% from a near two-year high tested last month. A similar … Read more

Uncertain macroeconomic conditions continue to create volatility in global oil prices

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Uncertain macroeconomic conditions continue to create volatility in global oil prices

Although prices cooled down from their 14-year high hit in March, crude oil prices remain extremely volatile on uncertain macroeconomic conditions. A cut in global oil demand forecast by agencies like Energy Information Administration (EIA) and OPEC, easing tensions between Russia and Ukraine, concerns over China’s demand, and a G7-proposed price cap on Russian oil … Read more