Oil slipped due to concerns about the economy’s health

19 Sep 2024 Oil prices slipped on Wednesday, September 18, as the Federal Reserve's larger-than-expected rate cut intensified concerns over the health of the US economy, overshadowing a sharper-than-forecast decline in crude inventories.

19 Sep 2024

EIA: US commercial crude stockpile hit the lowest level in one year

Net US crude imports plummeted by 1.8 million barrels per day, as port activity along the Gulf Coast slowed significantly due to disruptions caused by Hurricane Francine. Meanwhile, exports surged by 1.3 million barrels per day, reaching nearly 4.6 million barrels per day.

19 Sep 2024

Dalian Commodity Exchange: 19 September 2024 (Night trading)

The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 19 September 2024 settled as follows:

19 Sep 2024

Dalian Commodity Exchange: 19 September 2024

The 2501 for January 2025 delivery contract on Dalian Commodity Exchange on 19 September 2024 settled as follows:

18 Sep 2024

Oil prices surge amid FED rate cut speculation and geopolitical tensions

The price surge comes after over 12% of crude production in the U.S. Gulf of Mexico was shut down due to damage caused by Hurricane Francine last week. The disruptions have bolstered oil prices in four of the last five trading sessions.

18 Sep 2024

Freightos: Weekly Ocean Freight Index Update

Industry experts report that East Coast ports have already begun scaling down operations. Even a limited strike would trigger a mandatory lockout across all USMX ports under their bylaws, exacerbating disruptions.