Crude oil market slumps to lowest since January amid weak economic data

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

Oil pulled back from a recent rally on weak US economic data

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

Dalian Commodity Exchange: 02 August2024 (Night trading)

The 2409 for September 2024 delivery contract on Dalian Commodity Exchange on 01 August 2024 settled as follows:

02 Aug 2024

Dalian Commodity Exchange: 02 August 2024

The 2409 for September 2024 delivery contract on Dalian Commodity Exchange on 02 August 2024 settled as follows:

01 Aug 2024

Oil market soared on heightened MEA tension and a large draw in US inventory

The US saw a decrease in commercial crude stocks by 3.4 million barrels last week, marking the fifth consecutive week of drawdowns - the longest such streak since January 2021.

01 Aug 2024

EIA: US commercial crude stocks declined for the fifth straight week on strong exports

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.