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.

Barron'sMay 11 02:09 ET

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

MarketWatchMay 10 07:57 ET

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.

MT NewswiresMay 9 04:40 ET

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.

Zhitong FinanceMay 9 02:48 ET

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.

Zhitong FinanceMay 8 22:50 ET

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.

Zhitong FinanceMay 8 02:35 ET