To help its clients reach their investment goals,Octa offers free educational webinars, articles, and Forex simulator analytical tools. Technologicaladvancements and a shift towards renewable energy are gradually reducing thereliance on traditional oil. The International Energy Agency (IEA) projectsthat by 2040, renewable sources could meet over 40% of globalenergy demand, ascountries aim to cut carbon emissions in line with climate goals. Despite theseshifts, oil is expected to remain essential for sectors like aviation and heavymanufacturing, although overall demand may see a decline in the coming decades. Meanwhile, US commercial crude oil inventories decreased by 1.8 million barrels from the previous week. At 428.4 million barrels, US crude oil inventories were about 5 per cent below the five-year average for this time of year.

Brent Crude is a particularly light crude oil which is carried from the North Sea to the Sullom Voe Terminal on Mainland, Shetland by an underwater pipeline. Trump’svictory could significantly influence oil market dynamics through policies thatfavour the oil and gas sector. His administration previously prioritised energyindependence, implementing deregulation policies that boosted the daily trading coach domesticproduction. Crude oil is by far the world’s most important energy source and the price of oil therefore plays an important role in industrial and economic development. OPEC+production decisions, global economic recovery trends, and seasonal demandpatterns will likely influence short-term oil market dynamics.

Today’s Brent crude oil spot price is at $72.63 per barrel, up by 0.57% from the previous trading day. In comparison to one week ago ($73.88 per barrel), Brent oil is down 1.69%. We also explain what oil blends are (like Brent and WTI), and ways you can speculate on live crude oil spot prices without having to buy physical barrels.

• Crude oil for January delivery edged down $0.05 or 0.1 percent to $68.72 a barrel after slipping $0.17 or 0.3 percent to $68.77 a barrel on Tuesday.
• As ofmiddle November 2024, Brent crude was trading around $71.97, while West TexasIntermediate (WTI) stood at $68.04 per barrel.
• It takes years to develop new supply sources or vary production, and it is very hard for consumers to switch to other fuels or increase fuel efficiency in the near- term when prices rise.
• State energy information, including overviews, rankings, data, and analyses.
• As a critical resource in the globaleconomy, oil is integral not only to the energy sector but also to industriessuch as transportation, manufacturing, and agriculture.

Oil Price (WTI/Brent)

The reference oil traded most frequently and of major significance for the USA is West Texas Intermediate (WTI), while the most important in Asia is Dubai Fateh. Other reference oil types include Leona, Tijuana, Alaska North Slope, Zueitina or Urals. The different types of crude oil come from regions as diverse as Alaska North Lope, Arab Light or Zueitina in Libya. These are standardized products used to determine the prices for all other types.

Today in Energy

Crude oil for January delivery edged down $0.05 or 0.1 percent to $68.72 a barrel after slipping $0.17 or 0.3 percent to $68.77 a barrel on Tuesday. The modest decreases seen over the past two sessions came following the nosedive seen during Monday’s session. Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days.

Financial update

Meanwhile, the Organization of the Petroleum Exporting Countries and its allies (OPEC+) have confirmed they will postpone its upcoming Output Policy Meeting decision from Sunday to December 5. Oil prices could drop to the low $60s by the end of 2026 if demand takes a hit from Trump’s sweeping tariffs, Goldman Sachs says. Investors are betting Texas Pacific Land Corp.’s huge swath of land will be key for tech giants looking for space and cheap energy to power AI data centers. Brent crude oil opened the year of 2020 amidst an uptrend that began in November 2020 from $38.84 per barrel and continued the rally to $68.72 per barrel until early March 2021.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here. You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities. Tools to customize searches, view specific data sets, study detailed documentation, and access time-series data.

Price of oil (Brent Crude and WTI)

The Energy Information Administration said crude oil inventories fell by 1.8 million barrels last week after edging up by 0.5 million barrels in the previous week. Economists had expected crude oil inventories to decline by 1.3 million barrels. (RTTNews) — The price of crude oil showed a lack of direction over the course of the trading session on Wednesday before eventually ending the day slightly lower. The new dividend policy is subject to provisional modifications driven by significant changes in commodity prices or major corporate developments. Octa is aninternational broker that has been providing online trading services worldwidesince 2011. It offers commission-free access to financial markets and a varietyof services used by clients from 180 countries who have opened more than 52million trading accounts.

The company also plans to increase its next fxcm broker quarter dividend, which will represent a 10% hike from its 2024 levels. Northern Oil and Gas, Inc.’s (NOG Quick QuoteNOG — Free Report) board of directors recently announced a cash dividend of 42 cents per share, representing a 5% increase from the prior year’s quarter level. The dividend will be payable Jan. 31, 2025, to its stockholders on record as of Dec. 30, 2024. Reserves, production, prices, employment and productivity, distribution, stocks, imports and exports. Exploration and reserves, storage, imports and exports, production, prices, sales.