Crude Oil Oil prices extended gains on Monday, this time on hopes of a Fed rate cut to stimulate growth. Brent crude gained 25 cents to settle at $63.71 a barrel, while WTI crude futures rose 67 cents to settle at $56.87 a barrel. U.S. central bankers are expected to lower borrowing costs for the first time since the depths of the financial crisis more than a decade ago. U.S. President Donald Trump said a…
Read MoreCrude Oil Oil prices inched up on Friday, ending the week higher after stronger-than-expected U.S. economic data brightened the crude demand outlook. Brent crude futures rose 7 cents to settle at $63.46 a barrel. WTI crude futures rose 18 cents to settle at $56.20 a barrel. Brent futures clocked a weekly rise of about 1.7% while WTI gained about 1.2% on the week. U.S. economic growth slowed less than expected in the second quarter with…
Read MoreCrude Oil Oil prices edged higher on Thursday supported by rising tensions between the West and Iran. Brent crude futures rose 21 cents to settle at $63.39 a barrel. WTI crude futures rose 14 cents to settle at $56.02 a barrel. The big decline in U.S. crude stockpiles saw the Asian markets take Brent to a session high of $ 64.23 a barrel, but gains were capped due to lingering worries about slowing economic growth…
Read MoreCrude Oil Oil prices fell 1% on Wednesday, failing to draw lasting support from a large decrease in U.S. crude stockpiles as investors worried about global oil demand. Brent crude futures dropped 65 cents to settle at $63.18 a barrel, while WTI crude futures fell 89 cents to settle at $55.88 a barrel. Earlier in the session, the front-month Brent contract flipped to trade at a discount to the second-month contract for the first time…
Read MoreCrude Oil Oil rose to almost $64 on Tuesday, jumping late in the session after the head of U.S. Central Command said the United States may have taken down a second Iranian drone over the Strait of Hormuz last week. Brent crude futures settled 57 cents higher at $63.83 a barrel. WTI crude futures rose 55 cents to end the session at $56.77 a barrel. The full restart of Libya’s largest oil field also pressured…
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