Crude Oil Oil hit their highest level so far in 2019 as the US ratcheted up the pressure on stopping trade with both Venezuela and Iran. Brent crude ended the session 26 cents higher at $69.37 a barrel. WTI futures settled at $62.58 per barrel, up 99 cents. The United States is considering more sanctions against Iran, the fourth-largest producer in OPEC. Three of the eight countries to which Washington granted waivers to import Iranian…
Read MoreCrude Oil Oil climbed about 2 percent to new 2019 highs on Monday, after positive signs for the global economy. Brent crude ended the session up $1.43 at $69.01 a barrel after rising to $69.19, its highest since November. WTI futures settled up $1.45at $61.59 per barrel. U.S. stocks rallied after upbeat manufacturing numbers from the United States and China eased worries about slowing global growth. China’s manufacturing sector unexpectedly returned to growth for the…
Read MoreCrude Oil Oil prices rose about 1 percent on Friday, as the fear of shortage of supply overshadowed concerns over a slowing global economy. The May Brent crude oil futures contract, which expired Friday, gained 57 cents to settle at $68.39 a barrel, marking a first-quarter gain of 27 percent. The more-active June contract settled up 48 cents at $67.58 a barrel. U.S. WTI) futures rose 84 cents to $60.14 a barrel, and posted a…
Read MoreCrude Oil Oil prices ended the day virtually unchanged after reacting violently to President Trump’s tweet calling for increase in supply. Brent crude oil futures settled a cent lower at $67.82 a barrel. WTI futures lost 11 cents to settle at $59.30 a barrel. The bullish sentiment in the market can be seen in the reactions to the events of the day. Futures hit a session low immediately following Trump’s comments, but subsequently rallied above…
Read MoreCrude Oil Oil prices retraced on Wednesday as the DOE reported a build in US crude stocks. Brent crude oil futures settled at $67.83 a barrel, down 14 cents, while U.S. crude fell 53 cents to $59.41 a barrel. Disruptions to Venezuelan exports helped to limit oil price losses after distinctly bearish data emanating from the DOE. Venezueala’s main oil export port of Jose and its four crude upgraders were unable to resume operations following…
Read More