Oil prices fall further

SECTOR · 1 Oil prices fall further Tue Jul 28, 2015 6:32 pm

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Oil prices fall further

http://a.msn.com/r/2/AAdArjl?a=0&m=en-us

Rare · 2 Re: Oil prices fall further Thu Sep 26, 2024 2:40 pm

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https://www.moneyweb.co.za/news/markets/oil-extends-sharp-drop-on-chance-of-more-libyan-saudi-supply/
Oil extended its biggest drop in more than two weeks as Libya’s factions reached a “compromise” on leadership for the OPEC member’s central bank, opening the way to the return of some crude production, and a report that Saudi Arabia may boost output to regain market share.

Rare · 3 Re: Oil prices fall further Fri Sep 27, 2024 12:20 pm

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https://nz.finance.yahoo.com/news/oil-falls-more-than-2-on-report-saudi-arabia-vows-to-bring-barrels-back-even-if-prices-fall-161050446.html

Oil prices sank more than 2% on Thursday after the Financial Times reported Saudi Arabia is determined to start unwinding voluntary production cuts starting Dec. 1, even if it leads to a "prolonged period" of lower crude prices.

Rare · 4 Re: Oil prices fall further Wed Oct 16, 2024 11:12 am

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https://www.msn.com/en-us/money/markets/ftse-wobbles-as-oil-prices-drop-sharply-following-opec-outlook/ar-AA1sjF2N

FTSE wobbles as oil prices drop sharply following Opec outlook

"Markets wobbled as the price of Brent crude oil tumbled by more than 4.5% to just under 74 US dollars per barrel by the time European markets closed.A big decline in the oil price is welcome news for businesses and consumers as there was a moment last week when it looked like energy and transport bills could go through the roof,” said Russ Mould, investment director at AJ Bell."

Rare · 5 Re: Oil prices fall further Fri Oct 18, 2024 1:01 pm

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https://oilprice.com/Energy/Energy-General/IEA-Predicts-End-to-Oil-Gas-Demand-Growth-Before-2030.html

IEA Predicts End to Oil & Gas Demand Growth Before 2030

"And now the International Energy Agency (IEA) has stoked the flames further by predicting that global demand for all fossil fuels will stop growing this decade at a time when supplies of oil and LNG are poised to continue growing. Obviously, this is highly bearish for oil and gas prices. On a brighter note, the world’s leading energy watchdog says this development will come as a major boon for consumers because electricity prices will start declining as renewables play a bigger role in our generation mix."

Rare · 6 Re: Oil prices fall further Sat Oct 19, 2024 6:47 am

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https://tradingeconomics.com/commodity/natural-gas

“US natural gas futures fell below $2.3/MMBtu, the lowest in one month, as increased flows to LNG export plants countered bearish forecasts of mild weather, which will limit heating demand through early November. For the week, natural gas prices fell around 11%, following an 8% drop the previous week. Traders are increasingly skeptical that extreme cold this winter will cause a price spike. Gas production in the Lower 48 states declined slightly in October, and 2024 could see output decrease for the first time since 2020. Meanwhile, unseasonably warm weather is expected to keep demand low, with gas flow to LNG export plants reaching an eight-month high.”

https://tradingeconomics.com/commodity/crude-oil

“WTI crude oil futures dropped 2% to settle at $69.2 per barrel on Friday, marking the biggest weekly losses since early September, falling more than 8%. The decline was driven by weaker demand forecasts from OPEC and the IEA, slowing economic growth in China and signs of easing geopolitical tensions in the Middle East. Both OPEC and the International Energy Agency (IEA) lowered their demand forecasts for 2024 and 2025. China’s refinery output has now declined for the sixth consecutive month, influenced by weak fuel demand and the rise of electric vehicle (EV) adoption. Meanwhile, U.S. crude oil production hit another record last week, although support for prices came from a drawdown in U.S. crude inventories and stronger-than-expected U.S. retail sales in September. Additionally, investors are closely watching potential developments in the Israel-Iran conflict, which could impact global oil supply, as diplomatic efforts signal a potential easing of tensions.”