Crude Oil Oil prices climbed another 1 percent on Monday as Asia reacted to the Middle East events over the weekend. Brent crude futures settled 79 cents higher at $63.26 a barrel. WTI crude futures rose 59 cents to end the session at $56.22 a barrel. The gains were capped by the lifting of force majeure on loadings of crude at Libya’s Sharara oilfield. In the straits of Hormuz, no major escalation with Britain or…
Read MoreCrude Oil Oil prices rose about 1 percent on Friday supported by rising tensions between the United States and Iran. Brent crude futures settled 54 cents higher at $62.47 a barrel. WTI crude futures rose 33 cents to end the session at $55.63 a barrel. For the week, WTI dropped 7% for the week and Brent lost about 5.5% for the week, the steepest losses for both benchmarks since late May. Prices gained late in…
Read MoreCrude Oil Oil fell about 2.5% a barrel on Thursday, weighed down by weakness in U.S. equities markets. Brent crude futures were down $ 1.73 cents to settle at $61.93 a barrel. WTI crude futures fell $ 1.48 cents to settle at $55.30 a barrel. The longer-term outlook for oil has also grown increasingly bearish, market participants said on Thursday. The IEA is reducing its 2019 oil demand forecast due to a slowing global economy…
Read MoreCrude Oil Oil futures fell more than 1% on Wednesday after U.S. government data showed large builds in refined product stockpiles. Brent crude futures were down 69 cents to settle at $63.66 a barrel. WTI crude futures fell 84 cents to settle at $56.78 a barrel. Both benchmarks shed more than 3% on Tuesday. . While data on Wednesday from the U.S. Energy Information Administration showed a larger-than-expected drawdown in crude stockpiles last week, large…
Read MoreCrude Oil Oil prices fell more than 3% after U.S. President Donald Trump said progress has been made with Iran, signaling tensions could ease in the Mideast. Brent crude futures fell $2.13 a barrel to settle at $64.35. WTI futures settled at $57.62 a barrel, down $1.96. U.S. oil companies on Monday began restoring some of the nearly 74% of production that was shut at platforms in the Gulf of Mexico because of Hurricane Barry.…
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