Crude Oil Oil prices rose 2% on Monday to their highest in over a year, with Brent nudging past $60 a barrel, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus. Brent rose $1.22, or 2.1%, to settle at $60.56 a barrel, while U.S. West Texas Intermediate rose $1.12, or 2%, to settle at $57.97 a barrel. Both benchmarks were at the highest since January 2020 In a sign that…
Read MoreCrude Oil Crude futures settled higher Feb. 5 amid tightened supply outlooks, demand optimism and a weaker US dollar. NYMEX March WTI settled up 62 cents at $56.85/bbl and ICE April Brent was up 50 cents at $59.35/bbl. For the week, Brent gained about 6% while WTI gained 9%. Crude prices saw additional support from a weaker US dollar. The ICE US Dollar Index was holding just above 91 in afternoon trading, down from a…
Read MoreCrude Oil Oil prices rose more than 2% on Tuesday, reaching their highest in 12 months after major producers showed they were reining in output roughly in line with their commitments. Brent crude settled up $1.11, or 2.0%, at $57.46 a barrel in its third straight day of gains. Earlier it touched $58.05, the highest levels since January last year. WTI futures gained $1.21, or 2.2%, to settle at $54.76, after hitting a session high…
Read MoreCrude Oil Oil prices settled more than 2% higher on Monday, buoyed by falling U.S. crude inventories and rising winter fuel demand due to one of the worst snowstorms to hit the U.S. Northeast in years. Brent crude settled up $1.31 cents, or 2.4%, at $56.35 a barrel. U.S. crude gained $1.35 cents, or 2.6%, to settle at $53.55. Both benchmarks gained nearly 8% in January. l The U.S. Northeast has been hit by a…
Read MoreCrude Oil Oil prices continued to stay mixed and directionless as the world tries to figure out its way forward. Brent futures settled 35 cents higher at $55.88 a barrel. WTI futures, however, settled 14 cents lower at $52.20 per barrel. l Oil fell in early Asian trading – after the first back-to-back weekly decline since October – amid fresh evidence that a resurgence of the coronavirus is taking a toll on economic growth and…
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