Oil prices rose again after OPEC+ confirmed plans to temporarily halt production increases during the first quarter. This Saudi Arabia-led decision is considered a response to seasonally weaker market conditions. Brent is now trading above $63 per barrel, while WTI is approaching $60, signaling that the market is beginning to adjust to the new supply policy.
This increase comes after oil posted four consecutive monthly declines due to concerns about a supply surplus. The IEA even predicted a record supply glut in 2026, while JPMorgan forecast oil prices could fall to nearly $50 per barrel. However, geopolitical tensions—which have flared up several times throughout the year—remain a factor that often keeps prices from falling further.
One recent trigger was President Donald Trump's rhetoric regarding Venezuela, who warned of the possibility of closing the airspace around the country. Although his comments subsided the following day, the presence of US troops in the region kept the market cautious. Meanwhile, WTI trading volumes surged early in the Asian session, following an outage on the CME platform last Friday during the US Thanksgiving celebrations, which briefly shook global market activity. (az)
Source: Newsmaker.id
Crude oil futures fell slightly on Friday (November 28th) as investors weighed the geopolitical risk premium on oil amid protracted Russia-Ukraine peace talks, while keeping an eye on Sunday's OPEC+ m...
Brent crude oil futures were flat on Friday (November 28th), while U.S. crude prices edged higher as protracted Russia-Ukraine peace talks kept geopolitical risks high, and traders continued to monito...
Brent crude oil futures inched up on Friday as drawn-out Russia-Ukraine peace talks kept geopolitical risks elevated, while traders kept one eye on the outcome of an OPEC+ meeting on Sunday for clues ...
Global oil prices are still trending lower and are now heading for their longest monthly decline in more than two years. West Texas Intermediate (WTI) is hovering around $59 per barrel, slightly above...
Oil prices rose on Thursday (November 27) as market participants weighed the possibility of reaching a deal in negotiations to end the war in Ukraine, with trading volumes thin due to the Thanksgiving...
Gold prices weakened in early December, dragged down by investor caution ahead of the Federal Reserve's looming interest rate decision. Amid speculation that the Fed was ready to cut rates again this month, market participants opted to hold back,...
Asian stock markets fluctuated at the start of the week, following the modest gains in US stocks last Friday. Investors are now turning their attention to a series of key economic data ahead of the Federal Reserve's expected interest rate cut...
Oil prices rose again after OPEC+ confirmed plans to temporarily halt production increases during the first quarter. This Saudi Arabia-led decision is considered a response to seasonally weaker market conditions. Brent is now trading above $63 per...
Trading on the Chicago Mercantile Exchange (CME) was halted on Friday (November 28th) following a cooling issue at one of its data centers.
"Due to...
Conflicting signals from the Federal Reserve on the timing and magnitude of U.S. interest rate cuts have accelerated hedging flows into swaptions...
European stocks ended Friday in positive territory as investors digested the end of a choppy month.
The pan-European Stoxx 600 closed the session...
Both the STOXX 50 and the STOXX 600 hovered around the flatline on the final trading day of a volatile November, as the recent rally in global...