Latest news with #CrudeOil
Argaam
10 hours ago
- Business
- Argaam
US oil inventories fall by 577,000 barrels last week: API
Crude oil and gasoline inventories in the United States declined over the past week, while distillate stocks rose, offering mixed signals on the energy consumption trends of the US economy. According to a report released by the American Petroleum Institute (API), crude oil inventories decreased by about 577,000 barrels in the week ended July 18. Meanwhile, gasoline inventories dropped by 1.29 million barrels, and distillate stocks — including diesel and heating oil — added 3.48 million barrels. Investors are now awaiting the release of official inventory data from the Energy Information Administration (EIA) today, July 23, amid expectations that crude inventories will fall 1.4 million barrels. At July 22 close, Brent crude futures for September delivery fell by 0.90%, or 62 cents, to $68.59 a barrel. Meanwhile, WTI crude futures for August delivery, expires today, declined by 1.47%, or 99 cents, to $66.21 a barrel.
Yahoo
a day ago
- Business
- Yahoo
Famous Last Words? Cotton Not Doing Much
Cotton grass by Christiane via Pixabay Cotton prices are trading on both sides of unchanged as we roll into midday on Tuesday, with thinly traded October down 14 points and other contracts 3 points either side of UNCH. Futures had closed out the Monday session with losses of 52 to 58 points. Crude oil futures are down a sharp 99 cents per barrel. The US dollar index is weaker, as the heavily weighted euro extends the rally it began on Friday. Weekly USDA Crop Progress data indicated 75% of the US cotton crop was squaring as of July 20, with 33% setting bolls, matching the average maturity pace. Condition ratings across the Belt improved 3% to 57% gd/ex, with the Brugler500 index up 8 points to 347. More News from Barchart The weather forecasts for the next week feature dryness for much of Texas, with some of the Southeast forecast to receive 1 to 2 inches, with amounts rising towards the Gulf. The Seam showed sales of 58 bales on Friday, with an average price of 68.35 cents/lb. The world focused Cotlook A Index was down 5 cents at $79.45 on July 21. ICE cotton stocks were steady on 7/18, with the certified stocks level at 22,337 bales. USDA's Adjusted World Price (AWP) was up a tick on Thursday at 54.72 cents/lb. It is in effect through this coming Thursday. Oct 25 Cotton is at 66.66, up 12 points, Dec 25 Cotton is at 68.4, up 30 points, Mar 26 Cotton is at 69.73, up 27 points On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Zawya
a day ago
- Business
- Zawya
Oman: Geopolitical uncertainty, oil prices stable, gold prices rise
Muscat: Oil prices remained largely stable on Monday, with Crude trading at $68.60 and WTI at $65.85, balancing new European sanctions targeting Russian oil with concerns that escalating tariffs could stifle fuel demand, even as OPEC producers increase output. The EU's 18th sanctions package aims to cut Russia's oil revenues by banning imports of petroleum products refined from Russian crude, even when processed in third countries like India, and imposing a dynamic price cap, according to Vijay Valecha, chief investment officer, Century Financial. Despite these measures, prices haven't sharply fallen, partly due to ongoing geopolitical factors, shifting trade routes, and market uncertainties, including U.S.-China trade talks and supply disruptions like Canadian wildfires. Adding to the complexity, US President Donald Trump has threatened sanctions on Russian oil buyers and new tariffs on the EU, while upcoming Iran nuclear talks further cloud the future supply outlook, creating a tug-of-war between bearish pressures from increased supply and demand worries and bullish risks from sanctions and other uncertainties. Gold is up by about 0.55% today. From a fundamental standpoint, the ongoing episode over central bank independence and policy direction triggered safe-haven buying last week. Although the momentum seems to have faded, the tensions remain. Gold prices in Oman 24k - RO42.500 22k- RO39.750 18k- RO31.400 From a technical standpoint, the commodity is trading at the neckline of an ascending triangle formation, with a price mark of $3,364-$3,374. A break above the $3,374 price mark signals the bullish trend, with targets extending towards $3,436. On the contrary, a break of the trendline support connecting the lows of $2,832 on 28th February, $2,956 on 7th April, $3,247 on 30th June, $3,282 on 9th July, and $3,309 on 17th July triggers a bearish trend. The nearest support levels are at $3,345, followed by $3,331 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Yahoo
2 days ago
- Business
- Yahoo
Cotton Falls to Start the Week
Cotton futures closed out the Monday session with losses of 52 to 58 points. Crude oil futures were down 27 cents per barrel. The US dollar index was down $0.623 at $97.575. Weekly Crop Progress data indicated 75 of the US cotton crop was squaring as of July 20, with 33% setting bolls, matching average. Condition ratings improved 3% to 57% gd/ex, with the Brugler500 index up 8 points to 347. More News from Barchart Brazil Coffee Harvest Pressures Hammer Prices Left for Dead, Grain Market Bulls Now Have a Pulse Brazil Coffee Harvest Pressures Slam Coffee Prices Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. The weather forecasts for the next week feature dryness for much of Texas, with some of the Southeast forecast to receive 1 to 2 inches, with amounts rising towards the Gulf. The Seam showed sales of 58 bales on Friday, with an average price of 68.35 cents/lb. The Cotlook A Index was up .20 at 79.50 on July 18. ICE cotton stocks were steady on 7/18, with the certified stocks level at 22,337 bales. USDA's Adjusted World Price (AWP) was up a tick on Thursday at 54.72 cents/lb. It is in effect through this coming Thursday. Oct 25 Cotton closed at 66.54, down 58 points, Dec 25 Cotton closed at 68.1, down 58 points, Mar 26 Cotton closed at 69.46, down 52 points On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Cotton Slipping Back on Monday Morning
Cotton price action is easing lower on Monday, with contracts down 10 to 20 points. Futures rounded out the week with losses of 10 to 13 points on Friday. December was still up 126 points on the week. Crude oil futures were back down 21 cents per barrel, with the US dollar index down $0.236 to $98.210. Weekly CFTC data showed a total of 7,626 contracts cut from the net short position among spec traders in cotton futures and options. The collective group was net short 38,464 contracts as of July 15. More News from Barchart What is Watson Watching in the Grains Sector this Week? Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. The next week is looking at dryness for much of Texas, with some of the Southeast forecast to receive 1 to 2 inches, with amounts rising towards the Gulf. The Seam showed sales of 385 bales on Thursday, with an average price of 68.25 cents/lb. The Cotlook A Index was unch at 79.30 on July 17. ICE cotton stocks saw 1,144 decertifications on 7/17, with the certified stocks level at 23,481 bales. USDA's Adjusted World Price (AWP) was up a tick on Thursday at 54.72 cents/lb. Oct 25 Cotton closed at 67.12, down 13 points, currently unch Dec 25 Cotton closed at 68.68, down 12 points, currently down 10 points Mar 26 Cotton closed at 69.98, down 10 points, currently down 10 points On the date of publication, Austin Schroeder did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
