Sage Investment Club

Crude oil trades in range as key data China still struggling to recover

Crude oil traded in a tight range on Thursday morning as China (a major crude oil consumer) came out with its consumer price index (CPI) and producer price index (PPI) numbers. Meanwhile, crude oil inventories in the US, another major consumer, fell during the week ending March 3. At 9.55 am on Thursday, May Brent […]

Crude oil gains a tad on US industry data

Crude oil futures traded marginally higher on Wednesday morning as an industry data showed a decline in inventory levels in the US. At 9.57 am on Wednesday, May Brent oil futures were by 0.18 per cent at $83.44 and April crude oil futures on WTI were up by 0.01 per cent at $77.59. March crude […]

Rising Energy Prices Are Pushing Millions More People Into Poverty

The energy and economic crises of 2022 plunged millions into poverty last year, with many people around the world struggling to pay their energy bills and contend with rising consumer costs. While Europe and other parts of the world made it through the winter with enough natural gas to power heating, lighting, and cooking, ongoing […]

Crude oil price up despite inventory build up in US

Despite the more-than-expected increase in the inventories in the US, crude oil traded higher on Friday morning. Prospects of tighter supplies in the coming weeks kept the energy commodity elevated. At 9.50 am on Friday, April Brent oil futures were up by 0.81 per cent at $82.88 and April crude oil futures on WTI were […]

Crude oil drops as market assesses likely impact of Fed’s minutes

Crude oil futures traded lower on Wednesday morning as the market felt that the release of minutes of the meeting of the US Federal Reserve later in the day may have an impact on the demand for crude oil in the global market. At 9.52 am on Wednesday, April Brent oil futures were down 0.22 […]

Crude oil rises on impact of Turkey earthquake

Crude oil traded higher on Tuesday morning as Monday’s earthquake led to the halting of export operations at one of the oil terminals in Turkey.At 10 am on Tuesday, April Brent oil futures were up 0.95 per cent at $81.76 and March crude oil futures on WTI were at $74.90, a rise of 1.07 per […]

IEA’s faith in China’s recovery boosts crude oil prices

Crude oil futures traded higher on Monday morning as the International Energy Agency (IEA) reiterated that China will boost the demand for crude oil in the global markets. At 10 am on Monday, April Brent oil futures were at $80.16, up by 0.28 per cent; and March crude oil futures on WTI were at $73.53, up […]

Crude oil gets a boost from US GDP numbers

Crude oil traded higher on Friday morning following better-than-expected US GDP data in the fourth quarter of 2022. At 10.01 am on Friday, March Brent oil futures were up 0.47 per cent at $87.88, and March crude oil futures on WTI were at $81.38, up by 0.46 per cent. February crude oil futures were trading […]

Crude oil gets boost from Chinese demand recovery forecast

Crude oil traded higher on Wednesday morning following hopes of recovering demand in the Chinese market. This followed OPEC’s (Organization of Petroleum Exporting Countries) monthly oil market report’s forecast of demand recovery for crude oil in China. At 10 am on Wednesday, March Brent oil futures were at $86.49, up by 0.66 per cent, and […]