Crude Oil US Oil prices took another beating as surging US crude stocks and production has made OPEC rethink on production. Brent crude futures settled 6 cents lower at $72.07 a barrel. WTI crude futures fell 54 cents to settle at $61.67 a barrel. While oil prices slipped post the EIA’s weekly data report, they recovered considerably on reports that OPEC may cut crude output in 2019. The DOE reported another big build in crude…
Read MoreCrude Oil Oil prices fell on Monday and Tuesday, with U.S. crude futures hitting an eight-month low. Brent crude futures settled $1.04 lower at $72.13 a barrel. WTI crude futures also fell 89 cents to settle at $62.21 a barrel. Brent hit a session low of $71.18 a barrel, the lowest price since Aug. 16. U.S. The WTI session low was $61.31 a barrel, the weakest price since March 16. The US had granted 180…
Read MoreCrude Oil US Oil continued to feel the aftershocks of a decline that had the market reeling with its severity. Brent, however seemed to have found support at current levels for now. Brent crude futures settled 6 cents lower at $72.83 a barrel. WTI crude futures, however, 55 cents to settle at $63.14. For the week, Brent lost 6.2% while WTI lost around 6.6%. This was the fourth consecutive weekly loss. While sanctions against Iran…
Read MoreCrude Oil Oil fell nearly 3 percent on Thursday, with U.S. crude futures hitting lows not seen since April,due to growing concerns that global demand is weakening at a time when output from the world’s major oil producers is surging. Brent crude futures settled down $2.15, at $72.89 a barrel, while U.S. crude lost $1.62, to settle at $63.69, its lowest close since April 9. The declines accelerated on Thursday after U.S. futures broke through…
Read MoreCrude Oil Oil prices fell on Wednesday and posted the worst monthly performance since mid-2016 on evidence of rising global crude supply, but losses were limited by signs of strong U.S. demand for fuel. The Brent December contract, which expired yesterday, fell 44 cents cents to settle at $75.47 a barrel. The more-active January contract fell 91 cents to settle at $75.04 a barrel. U.S. crude settled 87 cents lower at $65.31 a barrel. Both…
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