Crude Oil Oil prices rose 1 percent on Tuesday, as fighting in Libya raised concerns about political strife. Brent crude futures gained 54 cents to settle at $71.72 a barrel. WTI futures rose 65 cents to settle at $ 64.05 a barrel. In Libya, fighting between Khalifa Haftar’s Libyan National Army and the internationally recognized government has raised the prospect of lower supplies from the OPEC member. U.S. sanctions on two other members, Iran and…
Read MoreCrude Oil Oil prices halted their rally on Monday after Russia’s finance minister said Russia and OPEC may decide to boost production to fight for market share with the United States. Brent crude futures ended the session at $71.18 a barrel, down 37 cents. WTI futures fell 49 cents to settle at $ 63. a barrel. Russian Finance Minister Anton Siluanov said over the weekend that Russia and OPEC may decide to boost production to…
Read MoreCrude Oil Oil prices rose 1 percent on Friday as traders elected not to stay short over the weekend. Brent futures rose 72 cents to settle at $71.55 a barrel. WTI futures rose 31 to settle at $ 63.89 a barrel. Both benchmarks notched a weekly gain of about 1 percent, which was Brent’s third consecutive week of gains and the sixth straight rise for WTI. The head of Libya’s National Oil Corporation warned on…
Read MoreCrude Oil Oil prices fell on Thursday after sources said OPEC may raise output from July if Venezuelan and Iranian supplies fall further and prices keep rallying. Brent futures fell 90 cents to settle at $70.83 a barrel. WTI futures dipped $ 1.03 to settle at $ 63.58 a barrel. Global oil supply dropped in March as U.S. sanctions and power outages pushed Venezuela’s crude output to a long-term low of 870,000 barrels per day…
Read MoreCrude Oil Oil futures climbed more than 1 percent on Wednesday to 17-month highs, overcoming a large build in US crude stocks. Brent futures rose $ 1.12 to settle at $71.73 a barrel. WTI futures rose 63 cents to settle at $ 64.61 a barrel. A flurry of bullish news contributed to this strong performance. First, the crude build was offset by a huge draw in gasoline stocks. An OPEC monthly report released on Wednesday…
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