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Oil and Energy

16 August 11:12 PM Oil ends higher on Friday   
​​​​​​​Mubasher: Oil future grew at Friday’s settlement, rising 0.7% for the week.
16 August 05:40 PM OPEC downgrades oil demand outlook, predicts 2020 glut
Mubasher: The Organization of the Petroleum Exporting Countries on Friday cut its outlook for global oil demand for the rest of the year.
16 August 04:40 PM OPEC crude output drops in July
Mubasher: Declines mostly came from Saudi Arabia, Iran, Libya and Venezuela.
16 August 10:24 AM Oil jumps on retreating recession worries
Mubasher: Oil futures rose on Friday, gaining support from easing worries about an economic recession in the world’s biggest crude consumer.
15 August 11:31 PM Oil settles lower on Thursday  
Mubasher: Oil future fell at Thursday’s settlement, as US natural gas stockpiles rose. 
15 August 05:42 PM US natural gas storage rises; futures climb
Mubasher: The US natural gas storage grew by 49 billion cubic feet, in the week ended 9 August, recording a total of 2,738 Bcf.
15 August 11:24 AM Oil falls on recession jitters, surprise buildup in US stockpiles
Mubasher: Oil prices declined earlier on Thursday, contributing to the deep overnight losses, driven by a surprise build-up in US crude stockpiles.
14 August 10:56 PM Oil goes down 3.3% at Wednesday’s finish
​​​​​​​Mubasher: Oil future settled lower on Wednesday, recording first decline in five sessions.
14 August 12:57 PM Oil drops on weak China data, climbing US stockpiles
Mubasher: Oil prices dropped on Wednesday on disappointing economic figures from China and a build-up in the US crude stockpiles, Reuters reported.
13 August 10:19 PM Oil levels up at Tuesday’s close  
​​​​​​​Mubasher: Oil future settled higher on Tuesday, marking its highest level since 31 July 2019.
13 August 07:10 PM Exxon Mobil plans to exit British North Sea
Mubasher: Exxon Mobil is reportedly planning to exit from the British North Sea to focus on the US’ shale production and new projects.
13 August 12:24 PM Oil edges up on expected output restraints; demand concerns weigh
Mubasher: Oil prices edged up on Tuesday on the back of expectations that major crude producers would scale back their output.
13 August 11:30 AM US shale oil output to add 85,000 bpd in September
Mubasher: Oil production from seven key US shale plays is set to rise by 85,000 next September, hitting a record of 8.768 million.
12 August 10:09 PM Oil settles higher on Monday  
Mubasher: Oil future went up at Monday’s settlement, as the Trade war between China and the US saw new development.
9 August 10:53 PM Oil finishes lower on Friday
Mubasher: Oil future levelled down at Friday’s close, losing 2.1% for the week.  
9 August 03:59 PM IEA sees oil demand growth at weakest level since 2008
Mubasher: More indications of an economic downturn and escalating US-China trade conflict threw a wrench into global oil demand growth.
9 August 11:25 AM Oil rises amid expectations of further OPEC supply curbs
Mubasher: Oil prices edged up on Friday amidst an expected output cut from the Organization of the Petroleum Exporting Countries, which lent some support.
8 August 11:06 PM Oil prices grow at Thursday’s close
Mubasher: Oil future settled higher on Thursday, as China report positive data.
8 August 05:34 PM US natural gas storage builds up; futures rise
Mubasher: The US natural gas storage climbed by 55 billion cubic feet in the week ended 2 August, recording a total of 2,689 Bcf.
8 August 11:01 AM Oil rallies on expected cuts after 5% plunge
Mubasher: Oil climbed on Thursday, paring half of the roughly 5% losses in the preceding session, on expectations that plunging prices could spur production cuts.
7 August 10:47 PM Oil ends near $50 pb on Wednesday
Mubasher: Oil future settled lower on Wednesday, as US stockpiles rose.
7 August 05:37 PM US crude stockpiles rise 2.4m barrels as oil prices plunge
Mubasher: US crude oil inventories rose by 2.4 million barrels to 438.9 million barrels in the week ended 2 August.
7 August 11:01 AM Oil declines amid market focus on US-China trade feud
Mubasher: Oil declined on Wednesday amidst the looming threat of the damage to the global economy and fuel consumption resulting the heightened US-China tensions.
6 August 11:12 AM Oil rises, but US-China trade tussle caps gains
Mubasher: Oil prices rose on Tuesday as wagers on a price drop prompted traders to buy back futures to book profits.
5 August 11:02 AM Oil drops as US-Sino trade feud weighs on demand
Mubasher: Oil prices dropped on Monday amid remerging global economic growth worries following US President Donald Trump’s threat to slap more tariffs on Chinese products.