05 Aug 2024
05 Aug 2024
The decline in oil prices deepened after US payrolls data for July missed expectations, adding to concerns about economic growth and energy demand. Meanwhile, weak factory activities in China further dampened the sentiment.
02 Aug 2024
On August 1, 2024, global crude oil prices retreated following their largest gain in more than nine months, driven by signs of a slowing US economy that countered concerns about potential supply disruptions from the ongoing conflict in the Middle East.
02 Aug 2024
02 Aug 2024
01 Aug 2024
01 Aug 2024
With US crude oil inventories now at 433.0 million barrels, they sit about 4% below the five-year average for this time of year. This continued drawdown underscores the strong global appetite for US crude, as exports surged to over 4.9 million barrels per day during the reporting week.
