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 MoreCrude 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 MoreCrude 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 MoreCrude Oil Oil prices continued to fall on Tuesday as the IMF slashed 2019 global growth rate to 3%, the lowest since 2009. Brent crude lost 61 cents to settle at $58.74 a barrel. WTI crude fell 78 cents to $58.74 / bbl. Earlier in the session, both Brent and WTI fell by more than $1 a barrel following a report overnight that China’s factory gate prices in September declined at the fastest pace in…
Read MoreCrude Oil Oil prices gave up most of Friday’s gains on Monday as details about the first phase of a U.S.-China trade deal did little to assure a quick resolution to the tariff fight. Brent crude shed $ 1.16 to settle at $59.35 a barrel. WTI crude settled $ 1.11 cents lower at $53.59 / bbl. Initial optimism that the trade negotiations would prove successful faded, as China indicated further discussions were needed and U.S.…
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