HOMAIN Heating Oil Futures(JUL4)
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Heating Oil Futures(JUL4) News
The commodity boom came to an abrupt end! Basic metals fell across the board, copper and nickel fell sharply, and crude oil fell three times in a row
The minutes of the Federal Reserve meeting show that the Federal Reserve may postpone interest rate cuts due to continued inflation, thus suppressing market expectations of interest rate cuts, and crude oil prices fell in response. Lun Copper closed down 4.05%, while Lunn Nickel fell 4.4%. Some analysts pointed out that the main reason for the decline in copper prices may be related to investors starting to make a profit settlement after copper prices hit a record high, recent weakness in copper demand, and a possible increase in copper production in Peru in 2024.
Crude Oil Recedes Further, WTI Falls Below $78 on Rising Supplies and Cautious FOMC
WTI declines for a third straight day on Wednesday.
Russia Pledges to Make Up for Crude Overproduction in April
Russia exceeded its crude production commitment for April and will soon present OPEC and its allies with a plan to make up for the extra output, the country’s Energy Ministry said Thursday.
Oil Flattens Despite Heightened Tensions Over Recognition of Palestinian State
Norway, Ireland and Spain said they will recognize a Palestinian state on May 28.
WTI Moves Below $79.00 Following Hawkish Remarks From Fed Officials
WTI Oil price extends losses possibly due to the hawkish remarks from Fed officials regarding maintaining higher rates for longer.
Oil Prices Tread Water Amid Iran Uncertainty, US Rate Jitters
Oil prices edged lower in Asian trade on Tuesday, as markets were uncertain how the Iran President’s death could affect supplies, while traders feared that high U.S. interest rates will eat into demand this year.
Oil Prices Edge Higher With Iran in Focus After Helicopter Crash
Oil prices rose slightly in Asian trade on Monday as traders sought more information on rescue attempts for Iran’s President after a helicopter crash.
Oil Prices Steady, Set for Mild Weekly Gains Amid Demand Hopes
Oil prices moved little in Asian trade on Friday, but were headed for a mildly positive week as a softer dollar, shrinking U.S. inventories and increased Chinese stimulus stoked hopes of improving demand.
WTI Extends the Rally Near $78.90, US Inflation Data Boosts Fed Rate Cut Expectations
WTI prices gains traction near $78.90 on Friday.
Oil Prices Rise as Softer CPI Dents Dollar, US Inventories Shrink
Oil prices rose in Asian trade on Thursday, extending gains from the prior session as a softer-than-expected U.S. consumer inflation reading brought down the dollar and ramped up hopes of interest rate cuts.
Crude Oil Whips on Wednesday, Surge in Risk Appetite Sparks Recovery in Barrel Bids
WTI hits two-month low before recovering into familiar territory.
WTI Edges Higher to Near $78.50 Due to Drawdown in US Inventories, Canada Wildfires
WTI price appreciates due to the potential for supply disruptions amid Canadian wildfires.
Oil Prices Rise as US Inventories Dip; CPI Inflation in Focus
Oil prices rose in Asian trade on Wednesday as industry data showed a drop in U.S. inventories and boosted expectations of tighter supplies, although anticipation of key inflation data kept gains limited.
Crude Oil Finds Late Bump but Still Sheds Weight on Tuesday as WTI Grapples With $78
WTI fell back into familiar lows on Tuesday before a late-day jump.
Oil Prices Track Gold, With a Lag. Prepare for Higher Crude
Chart in Focus McClellan Financial Publications May 9: Gold is valuable, not just as a tradable commodity but because it knows things about the future that are useful. One thing gold knows is what crude oil prices are going to do.
Oil Prices on Track for Weekly Gain
By William Watts Oil futures rose Friday and were on track for weekly gains, taking back some of the ground lost last week as fears of a broader Middle East war faded. Price moves West Texas Interm
Crude Oil Prices Gain as US Crude Stocks Record Surprise Draw, ANZ Bank Says
Crude oil prices climbed after the U.S. Energy Information Administration's weekly report showed a draw in U.S. crude inventories, signaling a tight physical market, ANZ Bank said in a Thursday note.
Goldman Sachs predicts that there is no hope that production will increase at the OPEC+ meeting in June, and oil prices may stay in the 75-90 dollar range
Goldman Sachs said on Wednesday that they no longer expect OPEC+ to announce the partial lifting of its voluntary production cuts at the June meeting.
Seasonal demand for gasoline and diesel in the US is the worst since the pandemic hit refining profits
According to the latest data from the US Energy Information Administration, demand for gasoline and diesel in the US is at its weakest seasonal level since the pandemic.
Biden takes advantage of falling oil prices to restart a “replenishment” plan, 3.3 million barrels of crude oil will be put into storage
The Biden administration is taking advantage of falling oil prices to relaunch plans to replenish its depleted strategic oil reserves.