Crude Oil Oil prices edged higher on Friday as political turmoil in Venezuela threatened to tighten crude supply, but concerns over surging U.S. fuel stocks and global economic woes weighed on sentiment. Brent crude oil futures rose 55 cents to settle at $61.64 a barrel. WTI futures, rose 56 cents to settle at $ 53.69 a barrel. For the week, Brent lost 1.7% while WTI shed around 1%, their first weekly decline in four weeks.…
Read MoreCrude Oil Oil Prices managed to hold their own on Thursday in the face of distinctly bearish data coming out of the EIA. Brent crude oil futures fell 5 cents to settle at $61.09 a barrel. WTI futures, on the other hand, rose 51 cents to settle at $ 53.13 a barrel. Prices drew support from the threat of US sanctions on Venezuela and Iran which would squeeze supplies. Persistent concerns about the U.S China…
Read MoreCrude Oil Oil Prices slipped on Wednesday in the absence of any further positive cues from the market. Brent crude oil futures fell 36 cents to settle at $61.14 a barrel. The WTI March contract, which now becomes front month fell 39 cents to settle at $ 52.62 a barrel. France’s foreign minister said he expected a European backed system to facilitate non-dollar trade with Iran and bypass fresh U.S. curbs imposed after Washington quit…
Read MoreCrude Oil US traders, on return to the markets on Tuesday, took cognizance of the bad economic numbers out of China and caused crude oil prices to retracte. Brent crude oil futures lost $1.20 to settleat $62.50 a barrel. WTI futures settled $1.23 below their previous close at $ 52.57 a barrel. All global financial markets slumped on Tuesday as concerns over global growth spooked investors into looking for safe haven assets like government bonds…
Read MoreCrude Oil Oil prices edged up on Monday, reversing earlier losses, as investors shrugged off data that confirmed China’s economic growth is cooling and instead latched on to positive supply side drivers for the market. Brent crude oil futures were up 12 cents at $62.83 a barrel by 3:23 p.m. EST (1727 GMT) versus Friday’s settlement price, while U.S. crude futures were up 19 cents to $53.99 a barrel. Global equities fell after data pointed…
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