Crude Oil Oil prices fell more than 1% on Monday as U.S.-China trade tensions continued to threaten demand for crude. Brent crude futures settled $ 1.00 lower at $62.29 a barrel. WTI crude futures settled at $53.26 a barrel, down 73 cents. U.S. President Donald Trump said he was ready to impose another round of punitive tariffs on Chinese imports if he does not reach a trade deal with China’s president at a Group of…
Read MoreCrude Oil Oil prices rose nearly 3% on Friday after Saudi Arabia said OPEC was close to agreeing to extend an output production cut beyond June. Brent crude futures settled at $63.29 a barrel, gaining $1.62. WTI crude futures settled at $53.99 a barrel, up $1.40. Saudi Energy Minister Khalid al-Falih told a conference in Russia that OPEC and its allies should extend oil production cuts. He said that while OPEC was close to agreement,…
Read MoreCrude Oil Oil prices jumped more than 2% on Thursday following a report that the United States could postpone tariffs on Mexico. Brent crude futures settled at $61.67 a barrel, gaining $1.04. WTI crude futures settled at $52.59 a barrel, up 91 cents. The benchmarks both rallied more than 2% in post-settlement trade. U.S. stocks, which oil prices tend to follow, spiked after Bloomberg News reported the United States is considering a delay in the…
Read MoreCrude Oil Oil prices crashed on Wednesday as US crude and product inventories surged. Brent crude futures fell $1.34 to $ 60.63 a barrel. WTI crude futures settled $ 1.80 cents lower at $ 51.68 a barrel. The impact of the build on sentiment was so high that Brent pierced the $ 60/bbl level briefly before recovering in sync with equity markets. Oil prices won some respite after a global stock market rally on hopes…
Read MoreCrude Oil Oil fell on Monday as U.S. trade disputes with Mexico and China deepened concerns about weakening global crude demand. The August Brent crude future, which became front month today, fell 71 cents to settle at $61.28 a barrel. WTI crude futures settled 25 cents lower at $53.25 a barrel. Mexico said it would reject a U.S. idea to take in Central American asylum seekers if it is raised at talks this week with…
Read More