Crude Oil Oil prices rose more than 2% on Friday after Iranian media said a state-owned oil tanker was attacked in the Red Sea near Saudi Arabia. Brent crude gained $ 1.41 to settle at $60.51 a barrel. WTI crude settled $ 1.15 higher at $54.70 / bbl. Brent rose 3.7% for the week, while WTI gained 3.6%, their first weekly gains in three weeks. The gains were tempered by the International Energy Agency’s forecast…
Read MoreCrude Oil Oil prices rose on Thursday, buoyed by comments by the head of OPEC that the organization could take action to balance oil markets. Brent crude settled up 78 cents at $59.10 a barrel. WTI crude settled 96 cents higher at $53.55 / bbl. Saudi Arabia told OPEC its monthly oil output fell by 660,000 bpd in September after major attacks on its energy facilities, while OPEC lowered its 2020 forecast for non-OPEC supply…
Read MoreCrude Oil Oil prices continued to stay in a narrow zone as prospects of US – China settlement countered a build in crude inventories. Brent crude settled up 8 cents at $58.32 a barrel. WTI crude settled 4 cents lower at $52.59 / bbl. Later, prices fell from settlement levels after Chinese officials said Beijing has lowered expectations for progress at the trade talks scheduled for today. U.S.-China trade tensions rose this week as Washington…
Read MoreCrude Oil Oil prices settled marginally lower on Tuesday in volatile trade. Brent crude settled down 11 cents at $58.24 a barrel. WTI crude settled 12 cents lower at $52.63 / bbl. Early in the session, both Brent crude and West Texas Intermediate (WTI) rose more than 1%. But, later in the day, prices as Washington’s blacklisting of more Chinese companies dampened hopes for a trade deal between the two countries. Investors were cautious ahead…
Read MoreCrude Oil Oil prices settled more or less unchanged on Monday after staying up most of the day. Brent crude settled down 2 cents at $58.35 a barrel, after hitting a high of $59.68. WTI crude settled at $52.75 after hitting a high of $54.06. Hopes of progress in U.S.-China trade talks had helped lift prices earlier in the session. U.S. and Chinese officials meet in Washington on Thursday and Friday in a fresh effort…
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