Crude Oil Oil prices had a roller coaster ride in the last two hours of trading before finishing only marginally changed for the day. Brent crude futures dipped 20 cents to settle at $72.61 a barrel. WTI futures eased 43 cents to $67.20 a barrel. Earlier in the day prices tanked with Brent hitting a low of $71.05 a barrel after inventories at the Cushing, Oklahoma delivery hub for WTI rose by about 1.7 million…
Read MoreCrude Oil Notwithstanding a strong performance by Crude prices on Friday, oil traders will stay focused on a plethora of bearish factors currently weighing on the market in the week ahead. Brent crude futures rose 74 cents to settle at $72.81 a barrel. WTI futures rose 82 cents to $67.63 a barrel. The strong close on Friday could not prevent WTI futures from posting their sixth weekly loss of 1.2%, their worst streak since August…
Read MoreCrude Oil Crude prices settled slightly lower on Thursday, extending the previous session’s losses as the escalating China-U.S. trade dispute casts doubt over the outlook for oil demand. Brent crude futures fell 21 cents to settle at $72.07 a barrel. U.S. crude fell 13 cents to $66.81 a barrel. China will impose tariffs of 25 percent on a further $16 billion in U.S. imports ranging from fuel and steel products to autos and medical equipment. Crude…
Read MoreCrude Oil Oil prices crashed on Wednesday after the DOE reported a smaller draw than the API had and showed builds in products. Brent futures fell $ 2.37 cents to settle at $72.27 a barrel. WTI crude futures also settled $ 2.23 lower to settle at $66.94 a barrel. Prior to the data, oil prices were already on the back foot as the China slapped a 25% tariff on another $16 billion worth of U.S.…
Read MoreCrude Oil Oil prices rose on Tuesday after U.S. sanctions on Iranian goods went into effect, intensifying concerns that sanctions on Iranian oil, expected in November, could cause supply shortages. Brent futures rose 90 cents to settle at $74.65 a barrel, after hitting a session high of $74.90. WTI crude futures settled 16 cents higher at $69.17 a barrel. EIA reduced its estimate for US output growth to 11.7 mb/d in 2019 (from 11.8 mb/d) in its latest…
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