Crude Oil Oil was largely flat on Thursday as bullish and bearish concerns tugged at investors. Brent futures rose 35 cents to settle at $62.74 a barrel, while WTI crude eased 8 cents to settle at $56.41/bbl. A Pentagon statement intensified concerns of a Middle East conflict disrupting supply, supporting prices. Crude futures pared losses late in the session after the U.S. Department of Defense said it would deploy radar systems, Patriot missiles and about…
Read MoreCrude Oil Oil shed more than 1% on Wednesday, logging a second straight day of losses after U.S. crude stockpiles unexpectedly rose and as Saudi Arabia maintained a faster-than-expected recovery of its oil production. Brent futures dropped 71 cents to settle at $62.39 a barrel, while WTI crude eased 80 cents to settle at $56.49/bbl. Crude output from the Khurais field is now at 1.3 million barrels per day (bpd). Oil output is at about…
Read MoreCrude Oil Oil prices plunged more than 2% on Tuesday after U.S. President Donald Trump rekindled fears the U.S.-China trade conflict that has crimped energy demand is far from over. Brent futures dropped $ 1.67 to settle at $63.10 a barrel, while WTI crude eased $ 1.35 to settle at $57.29/bbl. This is their lowest settle since September 14 In a United Nations address, Trump accused China of unfair trade practices, including “massive” market barriers,…
Read MoreCrude Oil Oil ended about 1% higher on Monday after a volatile trading session as traders focused on when Saudi Arabia would be able to restore full output. Brent futures gained 49 cents to settle at $64.77 a barrel, while WTI crude gained 55 cents to settle at $58.64/bbl. Brent futures started the session at a high of $65.50 on a report in the Wall Street Journal that it could take Saudi Arabia months longer…
Read MoreCrude Oil Oil prices eased on Friday on renewed concern over the U.S.-China trade war. Brent futures fell 12 cents to settle at $64.28 a barrel. WTI crude futures, fell 4 cents to settle at $ 58.10/ bbl. For the week, Brent rose 6.7%, its biggest gain since January, while WTI gained 5.9%, the most since June. U.S. shale producers pounced on the chance to lock in future revenue for this year and next after…
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