US stock markets moved higher in volatile trading as investors digested the latest jobs report and looked ahead to Federal Reserve Chair Jerome Powell’s speech later today.
Oil is forecast to fall to as low as $60 per barrel in 2025 “drill, baby, drill”
Drivers can expect relief at the pump in the coming year as economists forecast that Donald Trump’s initiatives to boost US oil production will drive down prices.
OPEC Oil Output Increases in November, Driven by Libya
OPEC’s oil production increased for the second consecutive month in November, driven by Libya’s rebound following the resolution of a political crisis.
Oil prices climb as OPEC+ cartel postpones key meeting
Oil prices surged on Thursday morning following news that the OPEC+ cartel had postponed its upcoming meeting to next week.
Benchmark Brent crude continued to decline towards $70 per barrel
Analysts warn that oil prices could drop to their lowest levels since the pandemic if Middle East tensions continue to ease.
Oil prices plummet amid predictions of a global surplus for next year.
Oil prices are headed for their sharpest daily decline in a year as the world faces a looming supply glut and reports suggest Israel will avoid targeting Iran’s crude facilities.
Oil is poised for its largest weekly decline in almost a year
Oil is on track for its most significant weekly decline in nearly a year, driven by concerns over weak demand and ample supply, despite Opec+ postponing a scheduled production increase
An investment bank predicts that oil prices could drop to $60 or even $50 per barrel by 2025.
Oil prices continued to decline on Wednesday, with forecasts suggesting an average of around $60 per barrel next year, and possibly even dipping to around $50, according to Citi.
Oil prices continued to rise on Monday morning
Oil prices continued to rise on Monday morning, as escalating tensions in the Middle East remained a significant concern for traders.
Russia Asserts No Friction With OPEC+ Despite Exceeding Oil Production Quotas
Vladimir Putin’s top oil advisor stated on Thursday that there was no friction with the OPEC+ oil cartel despite Russia exceeding its crude production quotas.
Traders anticipate a US rate cut in September as inflation continues to decline.
Money markets indicate that the Federal Reserve will start cutting interest rates in September, following a continued slowdown in US inflation.
Wall Street’s record-breaking rally continues as stocks edge higher
Most U.S. stocks are trending higher this afternoon, pushing Wall Street toward new records.