Oil market faces first weekly decline of 2025 amid US pressure on OPEC

24 Jan 2025 Speaking at the World Economic Forum in Davos, Switzerland, the US President announced plans to urge Saudi Arabia and OPEC to bring down oil prices. While this rhetoric is expected to resonate favourably with consumers and businesses grappling with inflation

24 Jan 2025

EIA: US commercial crude stockpile fell for the ninth consecutive week

Refinery utilisation rates saw a significant drop, falling to 85.9% from 91.7% the previous week. This sharp decrease underscores a notable slowdown in refinery activity, potentially signalling weaker downstream demand or operational challenges.

24 Jan 2025

Dalian Commodity Exchange: 24 January 2025

The 2505 for May 2025 delivery contract on Dalian Commodity Exchange on 24 January 2025 settled as follows:

23 Jan 2025

Dalian Commodity Exchange: 23 January 2025

The 2505 for May 2025 delivery contract on Dalian Commodity Exchange on 23 January 2025 settled as follows:

22 Jan 2025

Oil market extended losses as the US announced energy emergency plans

The energy emergency declaration forms part of a broader strategy aimed at lowering consumer energy costs and bolstering national security by increasing domestic production and supporting allied nations.

22 Jan 2025

Freightos: Weekly Ocean Freight Index Update

Another critical development this week is the implementation of the initial stage of the Israel-Hamas ceasefire agreement. This brings temporary relief to the 15 months of conflict that led to attacks on vessels in the Red Sea.