iPath Pure Beta Crude Oil ETN

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The more than 6 million-barrel weekly rise in U.S. gasoline supplies reported by the Energy Information Administration wasn't just a surprise, but the strongest sign yet that prices for oil and its products have reached the breaking point for consumers.

Demand destruction sinks oil prices as gasoline inventories send warning signal

Oil futures fell on Thursday for a second straight session, with U.S. prices marking another settlement at their lowest since late August. “OPEC+ worked hard to get oil back to $90 a barrel and they will likely continue to do whatever it takes to make sure we don't see prices return to the lows of the year, which is around the $70 level,” said Edward Moya, senior market analyst at OANDA.

U.S. oil futures end lower for a second straight session

Traders fear that high interest rates will put too much pressure on the economy and reduce demand for oil.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Retreats Amid Demand Worries

The energy sector is taking a hit as oil prices continue to sink after climbing for several months.

Oil Prices Dive Again, Fueling Energy Sector Sell-Off. This Is To Blame.

Crude oil markets bounced a bit during the trading session on Thursday, as the oversold condition continues to attract value hunters.

Crude Oil Price Forecast – Crude Oil Markets Showing Signs of Stability

Oil prices fell again on Thursday, following Wednesday's drop of as much as 6%. The sharp drop Wednesday followed weekly data from the Energy Department that indicated lower demand for gasoline.

Oil prices drop further as the global demand outlook turns murky

Crude oil benchmarks fall further as uncertainty over global demand and a stronger dollar counter pricing upside potential of Saudi-Russian output cuts.

Oil Futures Slump Further On Uncertain Global Demand Outlook

In June of 2022, the price of a barrel of West Texas Intermediate (WTI) reached an inflation-adjusted high of $120.

﻿Crude Prices Tumble as Demand for Gasoline Craters

A UN report has called for fossil fuel exploration to cease globally by 2030. In the UN synthesis report published yesterday, part of the 'stocktake' to review global climate progress every five years, placed significant emphasis on the urgent need to reduce global greenhouse gas emissions.

UN report calls for end to oil & gas exploration this decade

Oil futures traded lower early Thursday, after a large increase in U.S. gasoline inventories sparked the largest one-day selloff of 2023 and sent crude to its lowest close in more than a month.

Oil prices extend decline after demand worries spark sharp pullback

OPEC's decision to maintain production cuts stirs mixed sentiments in oil markets, as WTI and Brent traders navigate economic uncertainties.

Oil Prices Forecast: Inventory Builds and OPEC Decision Fuel Market Uncertainty

It's been a war of words and numbers between two major players in the energy industry – the International Energy Agency and OPEC – as they spar over the future of something crucial to crude producers' survival: peak oil demand.

Peak crude demand is fueling anger and argument in the world of oil

Oil prices inched up in early trade on Thursday, clawing back some of the previous session's big losses after an OPEC+ panel maintained oil output cuts to keep supply tight amid concern about a looming slump in global economic growth.

Oil prices tick up after OPEC+ panel maintains output cuts

Oil prices fell 6% on Wednesday as worries grow about lower demand and a slowing economy. Reports surfaced that Russia might end its ban on diesel exports, and oil inventories rose in some areas.

Oil prices drop 6% as worries mount over demand destruction

Oil futures fell sharply on Wednesday, with U.S. prices settling at their lowest since the end of August. “The current state of the oil market is that global economic pain is coming courtesy of surging bond yields,” said Edward Moya, senior market analyst at OANDA.

U.S. oil futures mark lowest settlement since the end of August

The EIA report showed that gasoline inventories increased by 6.5 million barrels from the previous week.

Natural Gas, WTI Oil, Brent Oil Forecasts – Oil Dives 5.7% As Demand For Gasoline Is Weak

Crude oil markets have fallen during the trading session on Wednesday to kick off the day, but at this point there remains to be seen whether or not it has any follow-through.

Crude Oil Price Forecast – Crude Oil Markets Plunge on Wednesday

Affirm

Oil futures edged lower early Wednesday as investors awaited an official reading on U.S. crude inventories, while Saudi Arabia, as expected, affirmed its plan to extend a production cut of 1 million barrels a day through year-end.

Oil prices edge lower ahead of supply data as Saudis affirm extension of production cut

Petrol had become “overpriced” across Britain's forecourts come the end of September as retailers clung on to higher margins following growth in wholesale fuel costs, RAC reports. According to an analysis by the auto servicing company, the average petrol price of 157.01p per litre at the end of September was 7p more than needed based on wholesale prices.

Petrol ‘overpriced' as retailers clutch on to higher margins - RAC

OPEC+ is unlikely to tweak its current oil output policy when a panel meets on Wednesday, OPEC+ sources told Reuters, as Saudi Arabia and Russia said they would keep voluntary supply cuts in place to support the market.

OPEC+ panel unlikely to tweak policy as Saudi keeps oil cuts - sources

The Organization of the Petroleum Exporting Countries isn't expected to change output targets after previous cuts by Saudi Arabia and Russia.

Oil Prices Fall as OPEC Prepares to Meet. Interest Rates Are a Worry.

Amid rising interest rates, the latest Crude Oil News reflects a cautious market outlook as OPEC+ ministers gear up to discuss production policies.

Oil Prices Forecast: OPEC+ Meeting Eyed Amid WTI, Brent Futures Dip

Oil rose in early Asian trade on Wednesday, supported by tightening global crude supply ahead of a panel meeting of OPEC+ ministers.

Oil rises on tightening crude supply

Saudi Arabia's decision a month ago to extend its crude-production cut to the end of the year hasn't yet lifted oil prices past the psychologically important $100-a-barrel level, but it did contribute to the largest quarterly price percentage gain in over a year.

Oil rally shows ‘OPEC+ plan has been working' as investors await next Saudi move

Oil futures finished higher on Tuesday, recouping a small portion of the price losses seen after three consecutive session declines. The path of least resistance is still higher for oil right now “although the counter-trend pullback is not necessarily over just yet,” said Tyler Richey, co-editor at Sevens Report Research.

News for iPath Pure Beta Crude Oil ETN Stock (OIL)