Crude Oil Oil prices retraced on Monday on signs that the impact of a tropical storm on U.S. Gulf Coast production and refining would be short-lived. Brent crude futures settled 24 cents lower at $66.48 a barrel. WTI crude futures settled 63 cents lower at $59.58 a barrel. One U.S. Gulf Coast refinery was restarting after shutting under threats of Tropical Storm Barry, while other refineries in the path of the storm continued to operate.…
Read MoreCrude Oil Oil prices ended the day slighty higher as slowing economic growth battled shutdown production in the US Gulf. Brent crude futures settled 20 cents higher at $66.72 a barrel. WTI crude futures settled 1 cent higher at $60.21 a barrel. Brent has gained 4% this week while WTI posted a 4.7% rise. Tropical Storm Barry, which is expected to become a hurricane just before making landfall this weekend, boosted crude futures as oil…
Read MoreCrude Oil Oil prices fell on Thursday as OPEC forecast slower demand for its crude next year. Brent crude futures settled 49 cents lower at $66.52 a barrel. WTI crude futures fell 23 cents to settle at $60.20 a barrel, climbing $2.60. Oil firms shut more than 1 million barrels per day of oil production, 53% of Gulf of Mexico’s output, as Tropical Storm Barry intensified on Thursday. The storm, which could become a hurricane…
Read MoreCrude Oil Oil prices rose 4.5% a barrel on Wednesday to their highest level in more than a month after U.S. crude inventories shrank and as major producers cut nearly a third of offshore Gulf of Mexico production ahead of an expected storm. Brent crude futures settled at $67.01 a barrel, up $2.85. WTI crude futures settled at $60.43 a barrel, climbing $2.60. Both benchmarks hit their highest prices since late-May. A storm expected to…
Read MoreCrude Oil Middle East tensions kept crude oil futures buoyant in the face of a swathe of dismal economic data. Brent crude futures rose 5 cents to settle at $64.15 a barrel. U.S. WTI crude futures rose 17 cents to settle at $57.83 a barrel. . The European Union on Tuesday urged Iran to reverse its scaled up uranium enrichment that breaches a nuclear deal it agreed in 2015 with world powers. US and China…
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