Crude Oil Oil prices edged up in cautious trade on Tuesday as expectations of higher U.S. shale output and inventories vied with worries that crude supply from the Middle East could be disrupted by looming U.S. sanctions on Iran and growing tensions with top exporter Saudi Arabia. Brent crude futures for December delivery rose 63 cents to settle at $81.41 a barrel. WTI crude futures rose 14 cents to settle at $71.92 a barrel. Last…
Read MoreCrude Oil Oil prices steadied on Monday, supported by geopolitical tension over the disappearance of a Saudi journalist that has stoked worries about supplies from Riyadh, but weighed by concern over long-term demand outlook. Brent crude futures for December delivery rose 35 cents to settle at $80.78 a barrel. WTI crude futures rose 44 cents to settle at $71.78 a barrel. US shale oil output is expected to climb by 0.1 mb/d to 7.7 mb/d in…
Read MoreCrude Oil Oil prices ended the day on a positive note as short covering took place over the weekend. Brent crude futures added 17 cents to settle at $80.43 a barrel. WTI crude futures rose 37 cents to settle at $71.34 a barrel. Brent lost 4.1% for the week while WTI lost 3.6%. Both benchmarks fell 3% on Thursday as global markets sold off. The monthly report by the International Energy Agency (IEA) on Friday…
Read MoreCrude Oil Oil prices slumped to more than two-week lows on Thursday as global stock markets fell, with investor sentiment made more bearish by a bigger-than-expected build in U.S. crude inventories. Brent crude futures fell $2.83 to settle at $80.26 a barrel. WTI crude futures fell $2.20 to settle at $70.97 a barrel. During the day, Brent hit a low of $79.80, its weakest since Sept. 24. On Wednesday, U.S. stock markets tumbled, with the…
Read MoreCrude Oil Oil prices dropped 2 percent on Wednesday as U.S. equity markets broadly fell. Brent crude futures fell $1.91 to settle at $83.09 a barrel. WTI crude futures fell $1.79 to settle at $73.17 a barrel. On Tuesday, the IMF cut its global economic growth forecasts for 2018 and 2019, raising concerns that demand for oil may also slump. Risks to the global financial system have risen over the past six months and could increase…
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