Crude Oil Oil fell from five-month highs on Tuesday after the IMF cut its global economic growth forecasts. Brent futures fell 49 cents to settle at $70.69 a barrel. WTI futures eased 42 cents to settle at $ 63.98 a barrel. The IMF cut its global economic growth forecasts for 2019 and warned growth could slow further due to trade tensions and a potentially disorderly British exit from the European Union. The IMF downgrade, its…
Read MoreCrude Oil Oil prices rose up to 2 percent on Monday as investors continue to fear the impact of disruptive forces. Brent futures rose 76 cents to settle at $71.10 a barrel. WTI futures gained $ 1.32 to settle at $ 64.40 a barrel. Investors already were focused on supply during the session as fighting in oil-rich Libya threatened to disrupt exports. Eastern forces were advancing on the country’s capital, disregarding global appeals for a…
Read MoreCrude Oil Oil prices gained 1.5 percent on Friday as strong U.S. employment data tempered fears about weakening global crude oil demand. Brent futures settled at $70.34 a barrel, up 94 cents. WTI futures settled at $ 63.08 a barrel, up 98 cents. Oil bulls are drawing heart from the strong employment data in the US and the signs of possible strife in Libya as additional stimuli to push prices higher. The U.S. Labor Department…
Read MoreCrude Oil Oil prices had a mixed day today. Brent futures settled at $69.40 a barrel, up 9 cents. WTI futures settled at $62.10 a barrel, falling 36 cents . Brent oil prices briefly crossed $70 a barrel for the first time since November as expectations of tight global supply outweighed pressure from rising U.S. production and less robust global demand indicators. Brent has gained 30 percent this year, while WTI has risen nearly 40…
Read MoreCrude Oil Oil prices edged down on Wednesday after U.S. government data showed a surprise build in crude inventories, but futures held near their highest in almost five months as OPEC-led output cuts and sanctions on Iran tightened the supply outlook. Brent futures settled at $69.31 a barrel, losing 6 cents. WTI futures settled at $62.46 a barrel, falling 12 cents . Despite the sharp increase in U.S. crude inventories, market participants said prices were…
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