• CL
• LCO

Oil settles $1 down after US job data revised significantly lower

Oil prices declined due to lower U.S. job statistics, with concerns about China's economy and global geopolitical tensions affecting crude demand and market sentiment.

• CL

US oil futures little changed after surprise API build

U.S. crude oil futures were stable after a surprise rise in crude stocks; inventories up by 347,000 barrels, with gasoline down by 1M and distillates by 2.2M barrels.

• CL
• CVX
• MPC
• PSX
• VLO

US West Coast refiners still waiting for TMX margin boost

The expanded Trans Mountain pipeline has not significantly impacted U.S. West Coast crude costs; most TMX barrels are being exported to Asia, surprising analysts.

• 1YMU24
• CL
• LCO
• NQU24
• US500

Powell's speech, rising US futures, Paramount Global - what's moving markets

Wall Street anticipates dovish comments on interest rate cuts from Fed Chair Powell at Jackson Hole, driving optimism and significant inflows into markets, particularly the S&P 500.

• CL
• LCO

Oil prices give up gains as Israel-Hamas ceasefire deal remains in focus

Oil prices are down due to cautious expectations about a ceasefire in the Israel-Hamas conflict, dollar weakness, and ongoing demand concerns, especially from China.

• CL
• LCO

Oil settles down 1% as Middle East tensions ease, China data weak

Oil prices dropped due to eased Middle East tensions and economic weakness in China, impacting fuel demand. Crude inventory withdrawals projected ahead of weekly reports.

• CL
• LCO

Crude oil settles lower as optimism over Gaza ceasefire as talks set to resume

Oil prices dropped due to ceasefire talk hopes and declining demand in China, with analysts predicting slowed global oil demand growth amid increasing EV penetration and rising non-OPEC+ production.

• ALA
• CL
• CNI
• COP
• CP
• CVE
• IMO
• SHEL
• SU

Oil pipeline capacity to spare Canadian exports from looming rail dispute

A potential labor dispute at Canadian railroads may not significantly impact U.S. oil exports due to increased pipeline capacity, though refined products could be affected.

• CL
• DJI
• IXIC
• LCO
• US500

Jackson Hole, US recession, DNC - what's moving markets

• CL
• LCO

What do softer fundamentals mean for the oil market?

BofA Securities highlights complex dynamics in the oil market due to supply-demand trends, geopolitical risks, and macroeconomic conditions, predicting slower growth and price fluctuations ahead.