Crude Oil Oil prices rose on Monday, with U.S. crude futures jumping more than 2 percent, as markets continued to focus on supply disruptions and a possible hit to crude output from U.S. sanctions on Iran. October Brent crude futures, the most actively traded contract, settled at $75.55 a barrel, up 79 cents. The September Brent contract, which expires on Tuesday, settled at $74.97, up 68 cents. U.S. West Texas Intermediate crude futures (WTI) rose $1.44 to…
Read MoreCrude Oil Oil prices corrected on Friday as some traders booked profits from length before the weekend. Brent crude futures fell 25 cents to settle at $74.29 a barrel. U.S. West Texas Intermediate (WTI) crude futures fell 92 cents to settle at $68.69 a barrel. For the week, Brent gained 1.7% buoyed by the disruption to Saudi flows. WTI however posted its fourth straight weekly decline, settling 2.5% lower. A draft proposal to roll…
Read MoreCrude Oil Oil prices rose for the third day in a row on Thursday after Saudi Arabia announced it was suspending shipments through the Bab El-Mandeb strait and trade tensions between the US and EU eased. Brent crude futures rose 61 cents to settle at $74.54 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 31 cents to settle at $69.61 a barrel. Any move to block the Bab al-Mandeb, which is between the coasts of…
Read MoreCrude Oil Oil prices rose for the second consecutive day on Wednesday after U.S. government data showed domestic crude inventories fell to their lowest levels since February 2015, easing worries about oversupply that have weighed on markets in recent weeks. Brent crude futures rose 49 cents to settle at $73.93 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose 78 cents to settle at $69.30 a barrel. The initial price gains were reversed as the market…
Read MoreCrude Oil Oil prices rose on Tuesday as the market shifted focus to the possibility of increased Chinese demand, drawing attention away from oversupply worries and trade tensions between China and the United States. Brent crude settled 38 cents higher at $73.44 a barrel, after it reached a session high of $74. U.S. West Texas Intermediate (WTI) settled up 63 cents, or nearly 1 percent, to settle at $68.52. Reports that China will increase infrastructure spending helped…
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