• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 46 mins GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days How Far Have We Really Gotten With Alternative Energy
  • 2 days Ocean Heat Could Supply Endless Clean Energy
  • 2 days If hydrogen is the answer, you're asking the wrong question
Editorial Dept

Editorial Dept

More Info

Premium Content

What Will It Take For Oil Prices To Stop Falling?

Crude Oil Market Overview

The current state of the crude oil market is marked by a downward trend, with both the international benchmark Brent crude and the U.S. benchmark WTI crude oil on track for a significant weekly decline. This downturn is driven by concerns over demand and a diminishing war-risk premium, intensified by recent geopolitical events.

Economic Influences and Market Reactions

Compounding the market's woes, recent comments by U.S. Federal Reserve Chairman Jerome Powell about potential future interest rate hikes have unsettled expectations for strong demand in both stock and crude oil markets. The global economic slowdown, marked by October's peak in 10-year U.S. Treasury note yields and deteriorating business conditions in key economies, is exerting additional downward pressure on oil prices. Despite growth in the U.S. economy, concerns persist over crude oil demand growth.

China's Economic Data and Inventory Surges

In China, difficulties in managing disinflation and a contraction in exports have cast doubt on the prospects for a robust economic recovery, crucial given China's status as a leading commodity consumer. Meanwhile, U.S. crude oil inventories reportedly saw a substantial increase of 11.9 million barrels in the week leading up to November 3, marking a significant stockpile growth.

Market Performance and Outlook

December WTI crude oil is displaying its weakest performance since the late June OPEC? decision…





Leave a comment

Leave a comment




EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News