Crude Oil Oil prices eased slightly on Tuesday after rallying for three straight sessions, but remained close to four-year highs on worries that global supplies will drop due to Washington’s sanctions on Iran. Brent crude settled 18 cents lower at $84.80 a barrel. WTI crude futures settled 7 cents lower at $75.23 a barrel. In addition to the worries about Iran, prices are being supported by global demand that has remained strong in the face…
Read MoreCrude Oil Crude prices continued their meteoric rise as Canada and US updated the NAFTA treaty which would augur well for economic growth. Brent crude settled $ 2.25 higher at $82.98 a barrel. WTI crude futures rose $ 2.05 to settle at $75.30 a barrel. The spurt in prices has taken them to levels not seen since November 2014. In other news, Russia would be unable to materially increase crude supplies to Asia to replace…
Read MoreCrude Oil Crude jumped higher on the last day of September on reports of China’s Sinopec Corp halving loadings of crude oil from Iran this month, as the state refiner comes under intense pressure from Washington. . Brent crude November future contract rose $ 1.00 /bbl to settle at $ 82.72 a barrel. The more active December contract settled $ 1.35 higher at $82.73 a barrel. WTI crude futures rose $ 1.13 to settle at…
Read MoreCrude Oil Crude prices edged higher as supply concerns post November continued to bother the market. Brent crude November future contract rose 38 cents to settle at $ 81.72 a barrel. The more active December contract settled 59 cents higher at $81.38 a barrel. WTI crude futures rose 55 cents to settle at $72.12 a barrel. In other news, unofficial sources said that Saudi Aramco will bring new crude output capacity of some 550,000 barrels per day…
Read MoreCrude Oil Oil prices eased on Wednesday after U.S. data showed a surprise build in domestic crude inventories. Brent crude futures fell 53 cents to settle at $ 81.34 a barrel. WTI crude futures fell 71 cents to settle at $71.57 a barrel. In other news, the US raised interest rates by 0.25% yesterday to 2.25%. This should further strengthen the US Dollar. Late in the evening, the US energy secretary Rick Perry stated that…
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