Crude Oil Oil prices shed 3% on Wednesday after fresh Chinese and European economic data revived global demand fears and U.S. crude inventories rose unexpectedly for the second week in a row.. Brent crude futures settled $ 1.82 lower at $ 59.48 /bbl. WTI crude futures settled $ 1.87 lower at $55.23/bbl. China reported disappointing data for July, including a surprise drop in industrial output growth to a more than 17-year low, underlining widening…
Read MoreCrude Oil Oil prices on Tuesday jumped by the most so far this year after the United States said it would delay imposing a 10% tariff on certain Chinese products. Brent crude futures settled $ 2.73 higher at $ 61.30 /bbl. WTI crude futures settled $ 2.17 higher at $57.10/bbl. US President Trump backed off his 1 Sep’19 deadline for tariffs on remaining Chinese imports, delaying duties on cellphones, laptops and other consumer goods,…
Read MoreCrude Oil After Wednesday’s tumble, prices recovered considerably over the the couple of days as Saudi Arabia was rumored to have said it is considering reducing its output to 7 million mbpd. Brent crude futures settled at $ 58.57 /bbl, 4 cents higher than Friday’s close. WTI crude futures settled at $54.93 a barrel up 43 cents from Friday. Oil Minister Khaled al-Fadhel said, adding that Kuwait has cut its own output by more…
Read MoreCrude Oil Oil prices tumbled nearly 5% on Wednesday after an unexpected build in U.S. crude stockpiles. Brent crude futures settled $ 2.71 lower at $56.23 a barrel. WTI crude futures fell $ 2.54 to settle at $51.09 a barrel. Last night’s settles have been the lowest since early January this year and have prompted talk that Saudi Arabia was mulling options to halt crude’s descent, alongside other producers.Consequently, both benchmarks then traded more…
Read MoreCrude Oil Oil prices continued to fall as market concerns about demand growth for oil continue to overshadow those about political unrest. Brent crude futures settled 87 cents lower at $58.94. WTI crude futures fell $ 1.06 to settle at $53.63 a barrel. Brent prices are 22% lower than the peaks it scaled in April this year. Over the last week itself, it has lost 9%. India has increased the cost estimate of a giant…
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