Crude Oil Oil prices slumped more than 4 percent on Monday, with Brent reaching a three-month low, as Libyan ports reopened and traders eyed potential supply increases by Russia and other producers. Brent crude futures fell $3.49 to settle at $71.84 a barrel. WTI crude futures fell $2.95 to settle at $68.06 a barrel. Brent’s dive pushed it to a session low of $71.52 during the session, its lowest since mid-April. Falling prices offset gains late…
Read MoreCrude Oil Crude prices continued their recovery on Friday, buoyed by the upcoming strike in Nigeria. Brent crude oil gained 88 cents to settle at $75.33.U.S. crude rose 68 cents to settle at $71.01 a barrel. For the week, Brent lost 2.7% while WTI lost about 3.9 percent this week. The market pared gains late in the session on a report that the Trump administration is actively considering tapping in to the country’s Strategic Petroleum…
Read MoreCrude Oil Brent crude strengthened late on Thursday, recouping some of its losses from the previous session, as market focus returned to concerns about spare capacity following a warning from the International Energy Agency (IEA). Brent crude oil gained $1.05 a barrel to settle at $74.45, rebounding from a session low of $72.67.U.S. crude settled down 5 cents at $70.33 a barrel. In their monthly report yesterday, the IEA said OECD stocks increased by 13.9…
Read MoreCrude Oil Global benchmark Brent crude oil had its biggest one-day drop in two years on Wednesday as a number of factors emerged to mitigate tensions about reduced supply. Brent crude fell $5.46, or 6.9 percent, to settle at $73.40 a barrel. The decline was the largest one-day move on a percentage basis since Feb. 9, 2016. U.S. crude fell $3.73, or 5 percent, to $70.38 a barrel. Tripoli-based Libya National Oil Corp said on Wednesday four export terminals were being…
Read MoreCrude Oil Oil rose on Tuesday, supported by a larger-than expected U.S. stock draw and supply concerns in Norway and Libya, though gains were tempered by the United States’ indication that it would consider requests for waivers from Iranian oil sanctions. Brent crude futures gained 79 cents to settle at $78.86 per barrel. Earlier, the global benchmark hit a session high of $79.51. U.S. crude futures rose 26 cents to settle at $74.11, after hitting a…
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