Pre. Settlement | N/A |
Settlement date | 2026-08-20 |
Open | 66.76 |
Bid | 66.60 |
Last price | 67.78 |
Day's range | 66.76 - 66.76 |
Volume | |
Ask | 67.10 |
Goldman Sachs and Morgan Stanley are lowering their price forecasts on crude oil (BZ=F, CL=F) as OPEC+ plans to increase its production output this October and conflicts escalate in the Middle East between Israel and Hezbollah forces in Lebanon. Yahoo Finance senior business reporter Ines Ferré highlights these revised price forecasts and what it means for oil producers. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Luke Carberry Mogan.
ExxonMobil (XOM) maintains a bullish stance on the future of crude oil, projecting that global demand will remain above 100 million barrels per day through 2050. Yahoo Finance senior reporter Ines Ferré delves into Exxon Mobil's Global Outlook, which extends to 2050 — discussing how factors like population and energy usage has contributed to the forecast. For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Angel Smith
Oil prices (CL=F, BZ=F) are rising on Monday as Middle East tensions escalate following an Israeli strike on Hezbollah in Lebanon over the weekend. Also driving prices is Libya's decision to halt oil exports. Path Trading Partners' Bob Iaccino joins the Morning Brief to discuss the outlook for the oil market. Iaccino argues that "supply and demand is widely balanced" given that oil prices have been stuck in a trading range. He notes that demand fears are "really entrenched in the market right now," and inventories are high, suggesting that "there actually has to be a disruption" to supply to significantly alter the current trajectory. "My overall stance on crude oil is that demand fears are just too great at this point. And when you look at what's going on with the Fed and how they're about to start rate cuts, that doesn't necessarily lend to a picture of stronger demand in the short term," Iaccino explains. Regarding OPEC's potential shift in oil production outlook, Iaccino believes the organization is "stuck between a rock and a hard place." He points out that since cutting production, they've continued to lose market share to non-OPEC producers. However, he notes, "they can't cut production while prices are falling because it won't work," due to other producers picking up the slack. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Angel Smith