This morning, Brent crude surged by 29%, reaching $119.50 per barrel, briefly matching the spread with WTI—typically positive—and bringing it close to zero. The intraday high for U.S. crude was $119.40. This shock start to the week adds to the gains recorded over the last five trading sessions, totaling 35%—the biggest gain in futures trading […]
It is important to understand that more than 150 different blends of crude oil are produced worldwide, and their production costs can vary significantly. Some are more desirable and easier to refine than others (requiring less processing) and are classified according to their weight (light vs. heavy) and their acidity (sulfur content). Estimated extraction costs […]
A few weeks ago, at the beginning of January, when crude oil was finally rebounding from the $57.5–$60 area, we highlighted the importance of the $66 level—a threshold that had acted as a floor since 2022 and had been broken to the downside only last April. Admittedly, according to OPEC and EIA data, the world […]
Global equity markets are lower this morning following yesterday’s turbulence in gold and other precious metals. XAUUSD, after reaching $5,600, experienced heavy profit-taking that pushed prices down toward $5,030 before closing at -1.35% (currently down a further 4.38% today). In addition, markets are expecting President Trump to announce the next Fed Chair later today (U.S. […]
Over the past weekend, OPEC+—the world’s leading oil-producing coalition comprising eight countries including Saudi Arabia and Russia and accounting for roughly one-third of global crude output—announced a voluntary pause to the production increases originally planned for the next three months. The initial proposal envisaged adding 1.65 million barrels per day to its current output of […]
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