Crude Oil Oil prices gained on Monday, with U.S. crude ending a choppy session higher on expectations for a Canadian production outage lasting until September, while global benchmark Brent gained on looming sanctions on Iran and falling output in Libya. U.S. light crude futures gained 5 cents to settle at $73.85 a barrel. Brent jumped 96 cents to $78.07 / bbl. The scenario on Iran is getting murkier, or clearer depending on how one looks at…
Read MoreCrude Oil Crude Oil prices moved in mixed directions as local supply considerations trumped global directions. Brent crude futures lost 28cents to settle at $77.11 a barrel. U.S. crude futures, however, gained 86 cents to settle at $73.80 a barrel. For the week, Brent shed around 2.9% while WTI lost a mere 0.5%. The coming week will see how the trade war between the US and China unfolds as the markets get set for uncertainty.…
Read MoreCrude Oil Crude Oil fell on Thursday after U.S. government data showed an unexpected build in crude oil stockpiles. Brent crude futures lost 85 cents to settle at $77.39 a barrel. U.S. crude futures fell $1.20 to settle at $72.94 a barrel, retreating from Tuesday’s 3-1/2-year high of over $75. Public listing preparations of state-run Saudi Aramco have stalled, which may reduce the pressure on Saudi Arabia to keep oil prices high. Saudi Arabia has wanted to sell shares in…
Read MoreCrude Oil Brent oil rose on Wednesday, driven higher by a threat from an Iranian commander and a drop in U.S. crude inventories for the second week in a row. Brent futures settled up 48 cents at $78.24 per barrel. U.S. crude futures were up 19 cents at $74.33 a barrel, within sight of Tuesday’s 3-1/2-year high above $75 a barrel. There is no settle for WTI as the US was closed yesterday. The price rose above $78…
Read MoreCrude Oil Crude Oil futures had a volatile day ahead of the holiday in US and finished slightly higher as the fear of being short persists. Brent crude gained 46 cents to settle at $77.76. WTI rose 20 cents to settle at $74.14/bbl. Brent had made an intra day high of $ 78.85 before coming down to as low as $ 76.67. The last hour of trade saw the markets building length before the 4th July…
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