Crude Oil Oil futures gained on Monday after Saudi crude production unexpectedly fell in July, raising concerns about global oil supplies as the United States prepares to reinstate sanctions against major exporter Iran. Brent crude futures rose 54 cents to settle at $73.75 a barrel, while U.S. West Texas Intermediate (WTI) crude futures rose 52 cents to settle at $69.01 a barrel. Saudi Arabia pumped around 10.29 million barrels per day (bpd) of crude in July, down…
Read MoreCrude Oil Oil prices ended the week mildly lower and traders appeared to not want to carry their trades over the weekend. Brent crude futures fell 24 cents to settle at $73.21 a barrel. U.S. West Texas Intermediate (WTI) crude futures also fell 47 cents to settle at $68.49 a barrel.. WTI posted its 5th straight weekly loss while Brent has had 4 losses in 5 weeks. For now the markets are focusing on a…
Read MoreCrude Oil Oil prices strengthened Thursday, with U.S. crude gaining nearly 2 percent after markets saw an industry report suggesting domestic crude stockpiles would soon decline again after a surprise rise in the latest week. Brent crude futures rose $1.06 to settle at $73.45 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $1.30 to settle at $68.66 a barrel.. Prices started rising on a Genscape report stating that stocks at Cushing had dropped 1.1…
Read MoreCrude Oil Oil prices fell about 2 percent on Wednesday as a surprise increase in U.S. crude stockpiles fed concerns about global oversupply, while markets worried that trade tensions could hit energy demand. Brent crude futures fell $1.82 to settle at $72.39 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell $1.10 to settle at $67.66 a barrel.. China said it would hit back if the United States takes further steps hindering trade, as the Trump…
Read MoreCrude Oil Oil prices fell on Tuesday, closing out the largest monthly decline in two years on supply worries after OPEC output reached a 2018 high in July, overshadowing reports that the United States and China might reopen trade talks that could boost demand. October Brent crude futures fell $1.34 to settle at $74.21 a barrel. The September contract, which expires later on Tuesday, settled at $74.25. U.S. crude futures fell $1.37, or nearly 2 percent, to settle at…
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