Crude Oil Oil prices rose nearly 2% on Wednesday after a larger-than-expected decline in U.S. crude stockpiles. Brent crude futures settled 98 cents higher at $ 60.49 /bbl. WTI crude futures settled 85 cents higher at $55.78 /bbl. The dollar rallied as Prime Minister Boris Johnson moved to suspend Britain’s parliament for more than a month before Brexit, enraging opponents and raising the stakes in the country’s most serious political crisis in decades. Concerns about…
Read MoreCrude Oil Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories. Brent crude futures settled 81 cents higher at $ 59.51 /bbl. WTI crude futures settled $ 1.29 higher at $54.93 /bbl. Prices extended gains in post-settlement trade, with Brent touching a high of $59.88 and WTI hitting $55.45, after data from the API showed U.S. crude inventories fell more than expected. During the session, the…
Read MoreCrude Oil Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran. Brent crude futures settled 64 cents lower at $ 58.70 /bbl. WTI crude futures settled 53 cents lower at $53.64 /bbl. Prices fell after French President Emmanuel Macron said preparations were underway for a meeting between Iranian President Hassan Rouhani and U.S. President Donald Trump in…
Read MoreCrude Oil Oil prices continued to drop and China and the US engaged in a war of tariffs on Friday. Brent crude futures settled 58 cents lower at $ 59.34 /bbl. WTI crude futures settled $1.18 lower at $54.17 /bbl. China said on Friday it would impose a tariff of 5% on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows. U.S. President Donald Trump responded later in…
Read MoreCrude Oil Oil prices faltered yesterday in a reflection of the uncertainty prevailing in the markets. Brent crude futures settled 38 cents lower at $ 59.92 /bbl. WTI crude futures settled 33 cents lower at $55.35 /bbl. Traders are awaiting a speech from Federal Reserve Chair Jerome Powell on Friday that could indicate whether the U.S. central bank will continue to cut interest rates. The Jackson Hole speech is important for oil as signals from…
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