Crude Oil Oil prices rose about $1 a barrel a barrel on Wednesday, bouncing from the lowest levels in months, after U.S. government data showed strong demand for refined fuel, but concerns remained over rising global crude supply. Brent crude futures gained 95 cents to settle at $63.48 a barrel. WTI crude futures rose $1.20 to settle at $54.63 a barrel. U.S. energy firms cut three oil rigs in the week to Nov. 21, bringing…
Read MoreCrude Oil Oil prices tumbled more than 6 percent on Tuesday in heavy trading volume, with U.S. crude diving to its lowest level in more than a year. Brent crude fell $ 4.26 to settle at $62.53 a barrel. WTI crude futures also lost $ 3.77 to settle at $53.43 a barrel. More than 946,000 front-month WTI contracts changed hands, exceeding the daily average over the last 10 months and the second-highest daily volume…
Read MoreCrude Oil Crude futures rose ahead of settlement in choppy trade on Monday, supported by a reported drawdown of U.S. oil inventories, potential European Union sanctions on Iran and possible OPEC production cuts. Brent crude settled up 3 cents at $66.79 a barrel. WTI crude futures settled 30 cents higher at $56.98 a barrel. The market pared losses early in the U.S. trading day when energy information provider Genscape reported that crude inventories fell in…
Read MoreCrude Oil Oil prices continued to recover for a third day in a row but the gains were much less. Brent crude futures settled up 14 cents at $66.76 a barrel. WTI crude futures settled 22 cents higher at $56.68 a barrel. For the week, Brent lost 4.8% while WTI lost 6.2%. Both markers posted their 6th consecutive weekly drop. For the week ahead, the market will be watching closely the possible impact of a…
Read MoreCrude Oil Oil prices continued to recover notwithstanding a massive crude build reported by the DOE. Brent crude futures settled up 50 cents at $66.62 a barrel. WTI crude futures settled 21 cents higher at $56.46 a barrel. The markets seemed to be more focused on the impact of future cutbacks by OPEC in 2019. It would also be reasonable to associate this price rise as an ongoing process of correction after a massive drop…
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