As the dollar begins to rebound, we are starting to see an ease in oil prices. Crude production is anticipated to increase. Reuters reported, “The dollar rose against other major currencies, buoyed by the rise in short-term U.S. government bond yields their highest in over nine years and ahead of the release of the minutes of …
The market just experienced their strongest start to the new year in over five years despite the recent dip in oil prices Monday. Bent crude remained above $70/ barrel while West Texas Intermediate held at roughly $66. Two key drivers in this are the weakened dollar and the growth of oil production in general. This …
Oil markets rose on Thursday, lifted by a fourth straight weekly fall in U.S. crude inventories, though climbing output capped prices well below the 2015 highs reached earlier this week. U.S. West Texas Intermediate (WTI) crude futures were at $56.74 a barrel at 0711 GMT, up 14 cents, or 0.25 percent from their last settlement. …