Crude Oil Oil futures gained about 1% on Monday on speculation that the OPEC+ may deepen the supply cut and stronger manufacturing activity numbers from China. Brent crude futures rose 43 cents to settle at $60.92 a barrel. WTI rose 79 cents to settle at $55.96 a barrel. Oil eased off session highs as Wall Street dropped after U.S. President Donald Trump unexpectedly announced plans to reimpose tariffs on steel and aluminium from Argentina and…
Read MoreCrude Oil Oil prices fell on Friday, with U.S. crude dropping more than 4%, on fresh trade tensions and record high U.S. crude production. Brent crude futures fell $1.44 cents to settle at $62.43 a barrel.. WTI fell $ 2.94 to settle at $55.17 a barrel. While Brent settled 1.5% lower and WTI 4.1% lower for the week, both contracts posted their largest monthly gains in several months of 6% and 2.3% respectively. Both…
Read MoreCrude Oil Oil ended mixed on Thursday. Brent crude futures fell 14 cents to settle at $63.92 a barrel.. WTI rose 13 cents to settle at $58.24 a barrel. Many U.S. traders were away for the Thanksgiving holiday. China warned the United States that it would take “firm countermeasures” in response to U.S. legislation backing anti-government protesters in Hong Kong. Investors are concerned that the move might delay further a preliminary agreement between the United…
Read MoreCrude Oil Oil eased on Wednesday after a report showing U.S. crude and product inventories grew unexpectedly last week. Brent crude futures fell 21 cents to settle at $64.06 a barrel.. WTI fell 30 cents to settle at $58.11 a barrel. Prices were still buoyant due to optimism that a U.S.-China trade deal would be reached soon. WTI trade volumes lower ahead of the U.S. Thanksgiving holiday, with lots of front-month contracts trading down about…
Read MoreCrude Oil Oil prices rose on Tuesday on continued optimism about the US China trade situation. Brent crude futures rose 62 cents to settle at $64.27 a barrel.. WTI rose 40 cents to settle at $58.41 a barrel. The United States and China are close to agreement on the first phase of a trade deal, U.S. President Donald Trump said on Tuesday, after top negotiators from the two countries spoke by telephone and agreed to…
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