Crude Oil Global oil benchmark Brent futures fell more than 3% on Monday on global growth concerns after China commenced retaliations to the US stance. Brent crude futures settled at $59.81 a barrel, down $ 2.08. WTI crude futures fell 97 cents to settle at $54.69 a barrel. WTI found some support from the draw in inventories at Cushing which fell nearly 2.4 million barrels in the week to Aug. 2. WTI’s discount to Brent…
Read MoreCrude Oil Oil prices recovered around 3% on Friday in the wake of President Trump’s move to impose additional tariffs Chinese imports. Brent crude futures for October delivery settled at $61.89 a barrel, up $1.39. WTI crude futures for September delivery settled at $55.66 a barrel, rising $1.71. For the week, Brent lost about 2.7%, while WTI shed about 1.2%. Before Thursday’s decline, crude futures had seen a fragile rally supported by steady drawdowns in…
Read MoreCrude Oil Oil prices plummeted more than 7% on Thursday after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1. Brent crude fell $ 4.55 to settle at $60.50 a barrel. WTI crude futures fell $ 4.68 to settle at $53.95 a barrel. The drop in Brent crude was the steepest in more than three years, while WTI had not lost more in percentage terms for over four years. Brent…
Read MoreCrude Oil Oil prices rose for a fifth day on Wednesday following a larger-than-expected drop in U.S. inventories. Brent crude rose 54 cents to settle at $65.17 a barrel. WTI crude futures gained 58 cents to settle at $58.63 a barrel. Brent posted a monthly decline of 2.1%. WTI crude futures inched up 0.2% in July. After its two-day policy meeting, the U.S. Fed cut interest rates, citing concerns about the global economy and muted…
Read MoreCrude Oil Oil prices rose about 2% to a two-week high on Tuesday on optimism that the Fed rate cut will happen. Brent crude rose $ 1.01 to settle at $63.72 a barrel. WTI crude futures gained $ 1.18 to settle at $58.05 a barrel. Both contracts have risen for four days in a row to their highest closes since July 15. For the month, however, both contracts were still set to decline due to…
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