Crude Oil Oil plunged Thursday, with U.S. crude dropping almost 3 percent as the market grappled with oversupply fears. Brent crude futures settled at $70.75 a barrel, down $1.43. WTI crude futures also fell $1.79 to settle at $61.81 a barrel. Market sentiment became more bearish as shifting U.S. policy on Iran had less immediate impact than initially feared. Any residual bullish sentiment also eroded as robust U.S. crude stockpiles indicated that the market was…
Read MoreCrude Oil Oil futures ended little changed on Wednesday in a day of relatively thin trade as Asia and Europe were shut for Labor day. Brent crude futures settled at $72.18 a barrel, up 12 cents. WTI crude futures, however, fell 30 cents to settle at $63.60 a barrel. In April, Brent increased about 6.5% and WTI rose 6.3%, their fourth consecutive month of gains. After initially dropping to a low of $ 71.18 a…
Read MoreCrude Oil Oil had a mixed day on Monday. Brent crude futures settled at $72.04 a barrel, down 11 cents. WTI crude futures, however, rose 20 cents to settle at $63.50 a barrel. Friday’s slide was triggered by a statement by Trump that he had called OPEC and told the cartel to lower oil prices. The slide was exacerbated by technical factors including an excessive speculative long position in U.S. crude. However, Saudi Arabia subsequently…
Read MoreCrude Oil Oil prices fell 3% on Friday after U.S. President Donald Trump again pressured OPEC to raise crude production. Brent crude futures settled at $72.15 a barrel, down $2.20. WTI crude futures ended at $63.30 a barrel, down $1.91. Brent was flat on the week after rallying for four weeks in a row. WTI saw a 1.2 percent weekly loss, breaking its six-week bull run. Trump told reporters on Friday that he had…
Read MoreCrude Oil Oil prices eased after first touching $75 /bbl for the first time in nearly six months. Brent crude futures fell 22 cents to settle at $74.35 a barrel. WTI futures fell 68 cents to settle at $ 65.21 a barrel. Brent touched $75 per barrel on Thursday on the suspension of some Russian crude exports to Europe. However, investors are wary about the market’s ability to rally further. Poland and Germany suspended imports…
Read More