Crude Oil Oil prices rose more than 1 percent on Tuesday after OPEC figures showed it cut production sharply in January, and as lead member Saudi Arabia said it would reduce its output in March by an additional 500,000 barrels. Brent crude gained 91 cents to settle at $62.42 a barrel. WTI crude rose 69 cents to settle at $53.10 a barrel. OPEC said on Tuesday it had reduced oil production almost 800,000 bpd in…
Read MoreCrude Oil Oil prices edged lower on Monday as worries surrounding the resumption of U.S.-China trade talks overshadowed support from OPEC-led supply restraint. Brent crude futures lost 59 cents to settle at $61.51 a barrel. WTI crude fell 31 cents to settle at $52.41 a barrel. Beijing expressed anger at a U.S. Navy mission through the disputed South China Sea, raising concerns whether the two countries can reach a trade deal before its 1st March deadline.…
Read MoreCrude Oil Oil futures edged higher on Friday but ended the week with a loss on renewed concerns about slowing global demand and after the dollar posted its best week in six months. Brent crude oil futures gained 39 cents to settle at $62.02 a barrel, while WTI crude futures rose a modest 8 cents to settle at $52.72 a barrel. On the week, Brent dipped more than 1 percent. But WTI recorded a weekly slump…
Read MoreCrude Oil Oil fell about 2 percent on Thursday as the market was weighed down by concerns that global demand growth would lag in the coming year. Brent crude oil futures fell $ 1.06 to settle at $61.63 a barrel, while WTI crude futures dropped $1.37 to settle at $52.64 a barrel. US President Trump said he would not be meeting Chinese President Xi Jinping before the deadline for the moratorium on tariffs set for March…
Read MoreCrude Oil Oil prices rose about 1 percent on Wednesday, boosted by signs of strong U.S. demand for distillate products. Brent crude oil futures gained 71 cents to settle at $62.69 a barrel, while WTI crude futures rose 35 cents to settle at $54.01 a barrel. While funds continue to look for signals to buy, the marked increase in distillate demand being one such signal, the markets continue to be wary of a global economic slowdown.…
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