Saudi Arabia's strategic shift sparked oil price drop as Middle East production rises

27 Sep 2024 Oil prices dropped more than 3% on Thursday, September 26, following a report on Saudi Arabia's plan to abandon its $100/barrel price target. The move comes as oil production in the Middle East is set to increase

27 Sep 2024

Dalian Commodity Exchange: 27 September 2024

The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 27 September 2024 settled as follows:

26 Sep 2024

Oil dropped over 2% as Libya supply concerns eased, China demand worries lingered

The market responded to Libya's agreement on appointing a central bank governor, a key step toward resolving the power struggle over oil revenues that had slashed production and exports.

26 Sep 2024

Freightos: Weekly Ocean Freight Index Update

The latest Weekly Ocean Freight Index from Freightos revealed an accelerated decline in booking fees from Asia to Northern Europe and the Mediterranean, plunging over 10% due to persistently weak demand.

26 Sep 2024

EIA: US commercial crude inventories continued to fall, signaling supply tightness

On the supply side, domestic crude oil production remained flat at 13.2 million barrels per day during the reporting week. Meanwhile, crude imports increased marginally by 135,000 barrels to 6.5 million barrels per day. Conversely, exports saw a decline of nearly 0.7 million barrels.

26 Sep 2024

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Saudi Arabia's strategic shift sparked oil price drop as Middle East production rises

Dalian Commodity Exchange: 27 September 2024

Oil dropped over 2% as Libya supply concerns eased, China demand worries lingered

Freightos: Weekly Ocean Freight Index Update

EIA: US commercial crude inventories continued to fall, signaling supply tightness

Dalian Commodity Exchange: 26 September 2024 (Night trading)

Dalian Commodity Exchange: 26 September 2024

Oil market hit three-week highs following China’s economic stimulus