Crude Oil Oil futures gained nearly 2% on Friday as comments from a top U.S. official raised optimism for a U.S.-China trade deal. Brent crude futures gained $ 1.02 to settle at $63.30 a barrel. WTI crude rose 95 cents to settle at $57.72 a barrel. Both benchmarks posted their second straight weekly gain as Brent rose 1.3%, and WTI gained 0.8%. U.S. Commerce Secretary Wilbur Ross said in an interview on Fox Business Network…
Read MoreCrude Oil Oil prices eased on Thursday as U.S. crude futures were pressured by a build in domestic inventories and record production. Brent crude futures dipped 9 cents to settle at $62.28 a barrel. WTI crude fell 35 cents to settle at $56.77 a barrel. Investor sentiment nevertheless remained optimistic as OPEC forecast lower-than-expected oil surplus. OPEC Secretary General Mohammad Barkindo also said on Wednesday that there would likely be downward revisions of supply going…
Read MoreCrude Oil Oil prices edged up on Wednesday on positive economic comments from U.S. Federal Reserve Chair Jerome Powell. Brent crude futures rose 31 cents to settle at $62.37 a barrel. WTI crude rose 32 cents to settle at $57.12 a barrel. Powell said the U.S. economy would see a “sustained expansion” with the full impact of recent interest rate cuts still to be felt. OPEC also aid it saw no signs of global recession…
Read MoreCrude Oil Oil prices ended Tuesday little changed. Brent crude futures fell 12 cents to settle at $62.06 a barrel. WTI crude fell 6 cents to settle at $56.80 a barrel. Prices pared earlier gains after Trump’s remarks to a lunch gathering of The Economic Club of New York included mixed messages about U.S.-China trade talks and excluded specifics about any progress in negotiations. Trump said U.S. and Chinese negotiators were “close” to a “phase…
Read MoreCrude Oil Oil prices edged lower on Monday as little progress on U.S.-China trade negotiations kept prices pressured. Brent crude futures fell 33 cents to settle at $62.18 a barrel. WTI crude fell 38 cents to settle at $56.86 a barrel. Investors are worried about fallout from the 16-month U.S.-China trade war, which has slowed economic growth around the world and prompted analysts to lower forecasts for oil demand, raising concerns that a supply glut…
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