Tag: Nigeria

Comment on Oil market By Michael Brown Senior Research Strategist at Pepperstone Having ended 2024, and begun 2025, in strong fashion, some wind has come out of crude's sails over the last couple of sessions, amid headwinds stemming from a chunky build in US inventories, as well as profit taking upon a brief move north of $75bbl in WTI, as the front future traded to its...

Oil price exceeds $74 after inventory drop. by Antonio Di Giacomo, Senior Market Analyst at XS.com West Texas Intermediate (WTI) crude oil experienced a slight increase following the settlement session on Tuesday, January 7, 2025, driven by data released by the American Petroleum Institute (API). This organization reported a significant decline in U.S. weekly crude oil inventories, far exceeding initial expectations. These figures triggered a positive reaction...