Crude Oil Oil slumped over 3% on Friday and posted its biggest monthly drop in six months, after U.S. President Donald Trump stoked global trade tensions by threatening tariffs on Mexico. Brent crude futures fell $2.38 to settle at $64.49 a barrel. WTI crude futures fell $3.09 to $53.50 a barrel. Brent futures posted an 11% slide in May and WTI a 16% drop, their biggest monthly losses since November. Trump vowed on Thursday to…
Read MoreCrude Oil Oil prices fell almost 4% to their lowest in over two months as a smaller-than-expected decline in U.S. crude inventories enhanced fears of a global economic slowdown due to the U.S.-China trade war. Brent futures fell $2.58 to settle at $66.87 a barrel. WTI futures dropped $2.22 to close at $56.59 a barrel Yesterday’s settles were the lowest closes for Brent since March 12 and WTI since March 8. For the month, Brent…
Read MoreCrude Oil Oil prices fell in volatile trade on Wednesday, weighed down by equity markets. Brent crude futures settled 66 cents lower flat at $ 69.45/bbl. WTI futures settled 33 cents lower at $ 58.81 In a sign of escalating tensions between the world’s two biggest economies, China signaled it was ready to use its dominant position in rare earths to strike back in a trade war with the United States, Chinese newspapers warned…
Read MoreCrude Oil U.S. crude futures gained almost 1% on Tuesday after flooding throughout the Midwest constrained crude flow from the main U.S. storage hub in Cushing, Oklahoma. WTI futures settled at $ 59.14 /bbl, up 51 cents from Friday’s close. Brent, settled flat at $ 70.11/bbl. Flooded areas of Arkansas and Oklahoma were bracing for more rain that will feed the already swollen Arkansas River. Up to 19 inches (48 cm) of rain…
Read MoreCrude Oil Oil prices climbed more than 1% in a thin market with both US and London closed for bank holidays. Brent crude futures settled at $ 70.11, rising $ 1.42. WTI was trading around 60 cents higher at $ 59.24 a barrel. In comments suggesting OPEC is not in a rush to ease supply restraint ahead of a mid-year meeting to review policy, Kuwait’s oil minister Khaled al-Fadhel said the market was expected to…
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