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In 2019, President Trump signaled that the U.S. would not go to war with Iran for Saudi Arabia. That compelled the Saudis to begin negotiations with Iran to reduce tensions. Iraqi Prime Minister Abdul-Mahdi told Al Jazeera that he believed Saudi Arabia was looking to de-escalate tensions aft...

In 2008, the price of nearby NYMEX crude oil futures rose to an all-time peak of $147.27 per barrel. The global financial crisis later than year drove the price of the energy commodity to a low of $32.48 per barrel. The recovery that followed took WTI futures to just under the $115 level in 20...

Originally published December 29, 2019 The oil market closed out 2019 on a bullish note with prices again on the upswing. The weekend air strikes in Baghdad triggered another surge in the market. Beyond the geopolitical sphere, the year started with a fresh round of deeper OPEC+ cuts, with...

In this article, we examine the significant weekly order flow and market structure developments driving WTI price action. As noted in last week’s WTI Weekly , the primary expectation for this week was for price discovery higher, barring failure of 61.06s as support. This expectation ...

By Ed Moya The start of the New Year has seen a drastic switch in focus from trade wars to possibly a US-Iran war. The focus for the week ahead was supposed to be the leaking of the details of the phase-one trade deal, but that will not be the case. Financial markets will now closely follo...

By Warren Patterson, Head of Commodities Strategy ; Chris Turner, Global Head of Strategy and Head of EMEA and LATAM Research ; Antoine Bouvet, Senior Rates Strategist ; Timothy Rahill, Credit Strategist ; Nadège Tillier, Senior Credit Analyst ; Trieu Pham, Emerging Markets Soverei...

Oil prices "will likely hold" around $70 a barrel, "but could make a run at $80 if the conflict spreads to the oil fields of southern Iraq or if Iranian harassment of commercial shipping intensifies," analysts at Eurasia Group wrote in a research note. More news on: The United States Oil...

The stock market selloff is deepening after the U.S. took out one of the most senior and revered generals in Iran, Qassem Soleimani (top Iraqi paramilitary commander Abu Mahdi al-Mohandes was also killed). More news on: SPDR Dow Jones Industrial Average ETF, SPDR S&P 500 Trust ETF, I...

Welcome to the EIA 914 edition of Oil Markets Daily! EIA 914 came out on Tuesday and was smack in line with our estimate of ~12.65 mb/d. One thing we find reassuring so far this year is that our estimate of US oil production has been the least surprising variable . This gives us comfo...

By OVI All of the oil production data for the US states comes from the EIAʼs Petroleum Supply Monthly. In addition, information from other EIA offices is provided to project future US output. At the end, an estimate is made for the decline rate in the L48 conventional oil fields a...