- November 4th, 2024
Oil Rises as OPEC+ Delays Output Hike and Iran Steps Up Rhetoric
Oil advanced after OPEC+ agreed to push back its December production increase by one month and tensions escalated again in the Middle East. ›
Oil advanced after OPEC+ agreed to push back its December production increase by one month and tensions escalated again in the Middle East. ›
Oil flipped between gains and losses after US crude inventories shrank, with the market monitoring the Middle East for any potential flare-up and equities showing a weaker tone. ›
European natural gas prices steadied near €41 a megawatt-hour as traders assess mixed weather forecasts against persistently low demand for the fuel. ›
Oil recovered after tumbling the most in more than two years on Monday, as the wipeout of a geopolitical premium in prices shifted traders’ gaze back to supplies and key upcoming events including the US election. ›
Natural gas options are signaling European traders still see upside risk for prices, even after concerns linked to the Middle East have receded. ›
European natural gas prices declined after Israeli strikes against targets in Iran avoided oil, nuclear and civilian infrastructure, signaling that supply risks linked to the Middle East conflict remain contained for now. ›
Oil tumbled more than 6% at the start of the week after Israeli strikes against targets in Iran avoided the OPEC member’s crude facilities, raising the prospect for easing hostilities in the region. ›
Oil prices fell on Wednesday after industry data showed U.S. crude inventories swelled more than expected, though declines were capped as the market watched diplomatic efforts in the Middle East after Israel continued attacks on Gaza and Lebanon. ›
European natural gas prices fluctuated as traders remained fixated on near-term geopolitical risks in the Middle East which threaten to disrupt energy markets. ›
Oil prices eased on Tuesday as the top U.S. diplomat renewed efforts to push for a ceasefire in the Middle East and as slowing demand growth in China, the world’s top oil importer, continued to weigh on the market. ›