Crude Oil Oil prices continued to rise but enthusiasm seemed to drop after EIA data showed builds of product stocks. Brent crude futures settled 27 cents higher at $ 60.30 /bbl. WTI crude futures settled 45 cents lower at $55.68/bbl. Brent made a session high of $61.41 /bbl while WTI touched $57.13 a barrel. Tensions between the United States and Iran remained in focus. Iranian President Hassan Rouhani said that if Iran’s oil exports are…
Read MoreCrude Oil Oil prices gained were steady and buoyed by optimism that markets will proactively take measures to counter slowing growth. Brent crude futures settled 29 cents higher at $ 60.03 /bbl. WTI crude futures settled 13 cents higher at $56.34/bbl. A rally in equity markets around the world on growing expectations that global economies will take action against slowing growth also gave oil prices a floor. China’s new lending reference rate was set…
Read MoreCrude Oil Oil prices gained roughly 2% on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces threatened crude supplies. Brent crude futures settled $1.10 higher at $ 59.74 /bbl. WTI crude futures settled 1.34 higher at $56.21/bbl. A drone attack by the Houthi group on an oilfield in eastern Saudi Arabia on Saturday caused a fire at a gas plant, adding to Middle East tensions, but state-run Saudi…
Read MoreCrude Oil Oil prices rebounded from a two-day drop as expectations of further stimulus by central banks helped to ease recession concerns. Brent crude futures settled 41 cents higher at $ 58.64 /bbl. WTI crude futures settled 40 cents higher at $54.87/bbl. For the week, both oil benchmarks eked out small gains after two consecutive weeks of losses Oil’s gains were capped after the OPEC on Friday cut its forecast for global oil demand…
Read MoreCrude Oil Oil prices continued to fall on Thursday in the absence of any countervailing data to support prices. Brent crude futures settled $ 1.25 lower at $ 58.23 /bbl. WTI crude futures settled 76 cents lower at $54.47/bbl. China, on Thursday, vowed to counter the latest U.S. tariffs, but called on the United States to meet it halfway on a potential trade deal, as U.S. President Donald Trump said any pact would have…
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