Oil Price Digest 23-Oct-2019

Crude Oil Oil prices rose on Tuesday after China signaled progress in trade talks with the United States. Brent crude futures rose 74 cents to settle at $59.70 a barrel. WTI crude futures rose 85 cents to settle at $54.16 a barrel.. OPEC and its allies plan to consider whether to deepen cuts to crude supply when they next meet in December due to worries about weak demand growth in 2020. Traders said the possible…

Read More

Oil Price Digest 22-Oct-2019

Crude Oil Oil prices fell nearly 1% on Monday after comments from a U.S. official fed regarding concerns surrounding the U.S.-China trade war, adding to worries that a slowing global economy would reduce demand for oil. Brent crude futures fell 46 cents to settle at $58.96 a barrel. WTI crude futures fell 47 cents to settle at $53.31 a barrel..  Although President Donald Trump has said he would like to sign a deal when he…

Read More

Oil Price Digest 21-Oct-2019

Crude Oil Oil prices edged lower on Friday, as concerns about China’s economy outweighed bullish signals from its refining sector. Brent crude fell 49 cents to settle at $59.42 a barrel. The Dec WTI crude fell 15 cents to $53.78 / bbl. For the week Brent fell 1.8%, while WTI lost 1.7%. China’s economic growth slowed to 6% year-on-year in the third quarter, its weakest in 27-1/2 years and short of expectations due to soft…

Read More

Oil Price Digest 18-Oct-2019

Crude Oil Oil prices rose about 1% on Thursday in a late afternoon rally the reasons for which are not exactly clear. Brent crude gained 49 cents to settle at $59.91 a barrel. WTI crude rose 55 cents to $53.07 / bbl. News sources attribute the rise to the fall in product inventories, but a series of weak economic figures would seem to bely that. Adding to concerns about the global economy, and therefore energy…

Read More

Oil Price Digest 17-Oct-2019

Crude Oil Oil rose on Wednesday, gaining support due to signs that OPEC and allied producers will continue to curb supplies in December. Brent crude lost gained 68 cents to settle at $59.42 a barrel. WTI crude rose 55 cents to $53.07 / bbl. Oil prices pared gains in post-settlement trade after industry data showed a larger-than-expected increase in U.S. oil stocks. US and Chinese trade negotiators are working on nailing down a Phase 1…

Read More