Friday, November 22, 2024

Oil Bulls News

Kemp: Oil investors reduce positions to record lows amid financial meltdown.

Investors reduced their positions in petroleum to the lowest levels for at least 10 years early last week as part of a general retreat from risk amid growing concerns about a global slowdown. Over the course of the week ending August 6,…

Markets: As Omicron Threat Fades, Oil Bulls Return

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Portfolio investors have started to rebuild bullish positions in the oil market, reassessing earlier fears about the likely impact of the Omicron variant of coronavirus on major economies and passenger aviation in 2022.Hedge funds and other…

Opinion: Weak Crude Imports in Asia Undercuts Oil Bulls

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Another month, another weak outcome for crude oil in Asia, the world's top-consuming region, with July's imports declining for a fourth month in five as demand weakened amid high prices and the ongoing coronavirus pandemic.Asia's imports for July were assessed at 21.77 million barrels per day (

Oil Prices Jump 2% After Tanker Attacks

(Photo: Islamic Republic News Agency)

Oil prices settled 2.2% higher on Thursday after attacks on two oil tankers in the Gulf of Oman stoked concerns of reduced crude trade flows through one of the world's key shipping routes.The attacks near Iran and the Strait of Hormuz reignited…

Oil Rises After Saudi Pledge, Declining U.S. Inventories

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Oil prices rose on Wednesday after top exporter Saudi Arabia said it would cut crude exports and deliver an even deeper cut to its production, and after an industry group reported a surprise decline in U.S. oil inventories.Brent crude, the global benchmark…

Oil Prices Fall 2% on Rising Supply and Trade War

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Oil prices fell more than 2 percent on Tuesday on signs of rising supply and concerns that global economic activity and fuel demand would be hit by a deepening U.S.-China trade dispute.Benchmark Brent crude oil fell by $2.25 a barrel to…

Oil Up But Set For Weekly Loss on Stock Build, Trade Row

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Oil prices rose on Friday on signs of surging demand in China, the world's second-biggest oil consumer, although the market was heading for a second week of losses on rising U.S. inventories and concern that trade wars were curbing economic…

Oil Climbs on Libya Force Majeure, Canada Outage

Libyan disruption cuts 850,000 bpd of oil from market; Canada outage drains U.S. crude, product inventories. Oil prices rose on Tuesday after Libya declared force majeure on some of its crude exports, while the loss of Canadian supplies helped lift U.S. crude to 3-1/2-year highs. U.S.

Hedge Fund Oil Bulls on Rampage as Bears Vanish

Hedge fund managers have never seemed so convinced that oil prices are set to rise rather than fall in the near term, according to the latest positioning data published by regulators and exchanges. Fund managers remain super-bullish even…

Hedge Fund Oil Bulls Downplay Macro Risks: Kemp

Hedge fund managers have turned bullish again towards oil prices, casting aside the caution that prevailed during much of February and March. Hedge funds and other money managers increased their net long position in the six most important…

Oil Slides toward Weekly Loss on Excess Supply Worries

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Oil prices fell for a sixth day on Friday, and were on track for their biggest weekly loss in 10 months, as record-high U.S. crude output added to concerns about a sharp rise in global supplies. The drop came amid a rout in global equity markets sparked by inflation fears.

Oil Faces Weekly Loss as Supply Worries Weigh

Oil prices fell for a sixth day on Friday, and were on track for their biggest weekly losses in 10 months, as record-high U.S. crude output added to concerns about a sharp rise in global supplies. The drop came amid a rout in global equity markets sparked by inflation fears.

Hedge Fund Bulls Leave Oil Looking 'stretched': Kemp

Hedge funds and other money managers have boosted their bullish position in oil to a new record, but with crude taking over from fuels as the main target of fresh buying. Hedge funds boosted their net long position in the six most important…

Oil Prices Slide after IEA Casts Doubt over Demand Outlook

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Oil prices fell for a fourth session on Wednesday, weighed down by worries that data would show U.S. crude inventories rising after this week's gloomy global demand outlook from the International Energy Agency (IEA). Brent crude futures were down 68 cents at $61.53 a barrel at 1335 GMT…

Oil Rallies on Chinese Import Boost and Mideast Tensions

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Oil prices firmed on Friday as bullish news from strong Chinese oil imports to turmoil in the Middle East put Brent on track for a nearly 3 percent weekly gain. The developments added to other signs that the market was finally rebalancing after years of excess…

Want to Bet on $100 oil? Some Already Have

Open interest trebles in December 2018 $100 calls. When crude prices crashed in early 2016 to $27 per barrel, most industry executives said the world had seen the last of oil at $100. Almost two years later, as a global crude glut shows signs of receding…

Bullish Streak Propels Brent to Robust Q3

Brent up around 20 percent in third quarter, but Middle East producers worry high price will boost U.S. shale. Oil edged higher on Friday as tensions around Iraqi Kurdistan threatened the region's crude supplies, helping Brent prices to their strongest third-quarter performance since 2004.

Oil Rises as Investors Buy into US Crude

Oil rose on Monday to break a three-day losing streak, after futures traders increased their bets on a renewed price upswing even though rising U.S. drilling helped keep physical markets bloated. Brent crude futures were up by 63 cents at $48.78 a barrel by 1405 GMT…

Burst in Investor Confidence Propels Oil Prices

Financial traders pour cash into long positions even as U.S. drilling rises for record 21 weeks. Oil rose on Monday to break a three-day losing streak, after futures traders increased their bets on a renewed price upswing even though rising U.S. drilling helped keep physical markets bloated.

Oil Bulls Encouraged by Falling U.S. Crude Stocks

U.S. crude stocks have shown a sustained decline over the last five weeks, giving oil bulls new inspiration that the market is rebalancing. Commercial crude inventories have fallen by 13 million barrels since the end of March, according to data from the U.S.