Crude Oil Oil prices steadied on Monday as tensions over Iran’s nuclear program countered concerns about whether slowing global economic growth would hit oil demand. Brent crude futures fell 12 cents to settle at $64.11 a barrel. U.S. WTI crude futures rose 15 cents to settle at $57.66 a barrel. . Oil prices edged higher for much of the session, then eased ahead of settlement. Tests have shown the Iranian supertanker seized in Gibraltar last…
Read MoreCrude Oil Oil futures rose on Friday as the news of Britain seizing an Iranian tanker escalated tension. Brent crude futures rose 93 cents to settle at $64.22 a barrel. WTI crude futures settled at $ 57.51 a barrel, up 17 cents. Both benchmarks were down for the week as concerns about a slowing global economy outweighed risks to supply. Brent recorded a 3.3% weekly loss and WTI shed roughly 1.8%. The U.S.-China trade war…
Read MoreCrude Oil Oil prices fell in thin trade on Thursday. Brent crude futures dropped 52 cents to settle at $63.30 a barrel. WTI crude futures were trading at at $ 56.89 a barrel (there being no settle). Trading volumes were light due to the July 4 holiday in the United States. Markets appeared largely unmoved by the detention by British Royal Marines of a supertanker in Gibraltar possibly carrying Iranian crude oil bound for Syria. Naphtha Asia’s…
Read MoreCrude Oil Oil prices edged higher on Wednesday, notwithstanding bearish US stock data, ahead of a U.S. holiday. Brent crude futures rose $ 1.42 to settle at $63.82 a barrel. WTI crude futures rose $ 1.09 to settle at $57.34 a barrel. Strength in the U.S equities market helped support oil prices. Each of the major U.S. stock indexes finished at a record closing high on expectations of a cut in Federal interest rates. Trading…
Read MoreCrude Oil Oil prices fell more than 4% on Tuesday as weak manufacturing data had investors worried that a slowing global economy could dent oil demand. Brent crude futures fell $2.66 to settle at $62.40 a barrel. WTI crude futures fell $2.84 to settle at $56.25 a barrel. The OPEC+ group agreed to extend oil supply cuts until March 2020 in their meeting on Tuesday. Signs of a global economic slowdown, which could hit oil…
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