How negative oil prices revealed the dangers of the futures …

A historic drop occurred on April 20,  when the price of West Texas Intermediate crude dropped by almost 300%, trading at around negative $37 per barrel.  The price of oil has steadily recovered, jumping by nearly 90% in May and registered the best month on record for WTI. However, the petroleum industry is still reeling from the effects of the coronavirus […]

Oil Prices Remain Excessively Vulnerable To Shocks.

Crude oil price started the week on the seesaw, with headwinds and tailwinds battling for control in a persistently unstable market situation. A spike in Covid-19 infections on the one hand and returning optimism on the other pushed oil up and down. This volatility is likely to continue over the next few days as data […]

Asian Oil Markets Tighten After Saudi Aramco Cuts Supply

Saudi Arabia’s oil giant Aramco has cut the crude oil shipments loading in July to at least five of its customers in Asia, Reuters reported on Monday, quoting sources familiar with the plans.   The move from OPEC’s top producer and the world’s largest oil exporter comes after Saudi Arabia hiked its official selling prices (OSPs) for […]