Crude Oil Oil prices rose slightly on Monday on hopes that energy demand will benefit from the trade deal between the United States and China announced last week. Brent crude settled 12 cents higher at $65.34 a barrel, and WTI oil rose 14 cents to $60.21 a barrel. While the progress on the trade pact could boost oil demand, the market is still weighing the merits of the deal. The agreement averted $160 billion in…
Read MoreCrude Oil Oil rose on Friday to its highest in nearly three months as investors cheered progress in resolving the U.S.-China trade dispute. Brent crude settled $1.02 higher at $65.22 a barrel, and WTI oil rose 89 cents to $60.07 a barrel. Both contracts settled at their highest since Sept. 16, up a little over 1% for the week. China has agreed to buy $32 billion of additional U.S. farm products over two years as…
Read MoreCrude Oil Oil prices gained nearly 1% on Thursday on hopes that the United States and China were close to reaching a deal on the ongoing trade dispute. Brent crude settled 48 cents higher at $64.20 a barrel, and WTI oil rose 42 cents to $59.18 a barrel. Trump tweeted on Thursday that the United States was very close to a big deal with China amid reports that the country was considering a delay or…
Read MoreCrude Oil Oil prices dropped almost 1% on Wednesday following a surprise build in U.S. crude inventories. Brent crude settled 62 cents lower at $63.72 a barrel, and West Texas Intermediate oil fell 48 cents to $58.76 a barrel. OPEC released a more bullish outlook for 2020, forecasting demand for its crude to average 29.58 million bpd next year, less than the group’s November output. OPEC’s expectation of a small deficit suggests a tighter market…
Read MoreCrude Oil Oil prices inched up on Tuesday as OPEC’s deal with associated producers last week to deepen output cuts in 2020 continued to provide a floor for prices. Brent crude settled up 9 cents at $64.34 a barrel, and West Texas Intermediate oil rose 22 cents to $59.24 a barrel. However, a Dec. 15 deadline for the next round of U.S. tariffs on Chinese imports weighed on markets. U.S. President Donald Trump does not…
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