Crude Oil Brent F Feb '23 (QAG23)
Crude Oil Brent (F) Futures Market News and Commentary
Jan WTI crude oil (CLF23) on Friday closed down -1.66 (-2.13%), and Jan RBOB gasoline (RBF23) closed down -12.01 (-5.02%).
Crude oil and gasoline prices Friday posted moderate losses. Chinese energy demand concerns weighed on crude prices after new Covid infections in China surged to a record, which may prompt the government to expand lockdowns and pandemic restrictions that curb economic activity, travel, and energy demand.
Chinese energy demand concerns continue to undercut crude prices. China reported a record 31,987 new Covid infections on Thursday, which may lead to extended pandemic lockdowns in China that curb economic growth and energy demand. Covid restrictions now cover 20% of China's economy, up from 15.6% last Monday, according to Nomura.
Friday's action by China to boost stimulus may revive economic growth and energy demand in China, the world's second-biggest economy, after the PBOC cut the reserve requirement ratio for most banks by 25 bp to 11.... Read more
- Crude Prices Weighed Down on Chinese Energy Demand Concerns
Jan WTI crude oil (CLF23 ) on Friday closed down -1.66 (-2.13%), and Jan RBOB gasoline (RBF23 ) closed down -12.01 (-5.02%). Crude oil and gasoline prices...
- Nat-Gas Retreats as U.S. Weather Forecasts Shift Warmer
Dec Nymex natural gas (NGZ22 ) on Friday closed down -0.284 (-3.89%). Dec nat-gas prices Friday fell sharply. A warmer U.S. weather forecast that will...
- Crude Slightly Lower on Surging Chinese Covid Cases
Jan WTI crude oil (CLF23 ) this morning is down -0.09 (-0.12%), and Jan RBOB gasoline (RBF23 ) is down -4.25 (-1.78%). Dec Nymex natural gas (NGZ22 )...
- Distillates Daze
One of the hot markets this month has become distillates, or heating oil, with questions coming in about when the market becomes a buy.
- Exxon Mobil Has A Long Way Up
Exxon Mobil has a long way up, as we see it trading in a strong five-wave bullish impulse from Elliott wave perspective.
- Nat-Gas Surges on Forecasts for Colder U.S. Temps
Dec Nymex natural gas (NGZ22) on Wednesday closed up +0.529 (+7.80%). Dec nat-gas prices Wednesday surged to a 2-month high on the outlook for colder-than-normal...