Renowned energy trader Mark Fisher says the worst is over for oil and it's time to buy

Renowned energy trader Mark Fisher on Wednesday said the “worst is over” for the crude oil market following a six-week rout that has seen U.S. crude lose over a quarter of its value. The MBF Clearing founder and CEO said he’d be a buyer right now rather than a seller. The market outlook for crude oil has recently flipped. Investors […]

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Oil on track for longest losing streak on record

Can’t sustain this low oil price: Fmr. Shell Oil President Former Shell Oil President John Hofmeister on the outlook for oil prices. U.S. crude oil futures were getting hammered Tuesday, with West Texas Intermediate (WTI) crude oil down almost 5 percent in afternoon trading. Continue Reading Below If the contract finishes the session lower, it will be its 12th consecutive session […]

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Oil Prices Extend Losing Streak After Trump Tweet

Oil fell for a 12th consecutive session on Tuesday in its longest losing streak on record after U.S. President Donald Trump tweeted against production cuts. “Hopefully, Saudi Arabia and OPEC will not be cutting oil production. Oil prices should be much lower based on supply,” Trump tweeted after Saudi Energy Minister Khalid Al-Falih said producers need to cut about 1 […]

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'Data is the new oil': UAE says energy executives should embrace A.I. to improve profits

Speaking at the ADIPEC oil summit in Abu Dhabi on Tuesday, Omar bin Sultan Al Olama, the UAE’s minister of state for AI technology said: “Data is the new oil.” “The opportunities are endless — some estimates say AI can have a $2.85 billion contribution in the energy industry by 2022. That’s a start, but the impact is going to […]

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'Multiple and intertwined risks' cloud outlook for the Middle East and its neighbors, IMF says 

Oil producing countries in the Middle East could benefit from higher crude prices in 2019, but regional uncertainties weigh on growth. A new report from the International Monetary Fund encouraged countries in the MENAP region to introduce more reforms that would diversify their economies away from oil. Rising oil prices could weaken the resolve of oil exporters to continue reforms. […]

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Oil Prices Rise As Saudi Arabia Pledges Supply Cut

Oil prices rose on Monday amid news that Saudi Arabia would reduce crude sales in December to shore up sagging prices. Media reports suggest that other major producers are also considering reductions heading into 2019. Global benchmark Brent crude was up 1.28 percent at $71.08 per barrel while U.S. West Texas Intermediate (WTI) crude futures were up 0.66 percent at […]

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Stock markets subdued as oil rises, breaking losing streak

A currency trader works near the screens showing the Korea Composite Stock Price Index (KOSPI), left, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room in Seoul, South Korea, Monday, Nov. 12, 2018. Asian markets were mostly higher on Monday ahead of key economic data, such as industrial production figures from […]

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