Oil Futures Rise Amidst Tensions in Middle East
Oil futures experienced a rise on Tuesday as U.S. traders returned from a three-day weekend. The market closely monitored ongoing tensions in the Middle East, which have disrupted tanker traffic…
Oil Prices Rise as OPEC Prepares for Key Decision
Oil prices reached a three-week high on Thursday as the market awaited a crucial decision from the OPEC group. Industry analysts are predicting that a production limit agreement will be…
Oil Prices Rise due to Gaza Blast
Price Action West Texas Intermediate crude (CL00, +2.15%) for November delivery (CL.1, +2.15% CLX23, +2.15%) rose $1.93, or 2.2%, to $88.59 a barrel. The contract settled flat at $86.66 a…
Canadian Factory Sales Rise in August
Canadian factory sales experienced a second consecutive monthly increase in August, driven by higher oil prices and strong growth in the food sector. According to Statistics Canada, manufacturing shipments reached…
Oil Prices Inch Higher as Supplies Remain Tight
Oil futures showed a slight upward trend early on Thursday, as market participants hoped to salvage a monthly gain for crude amid signs of tight supplies, providing support to the…
Oil Prices Surge as U.S. Economy Shows Strength
The oil market experienced a significant boost as oil futures climbed alongside energy company stocks. Following a surprising surge in U.S. economic data, oil prices closed above $80 per barrel…