Crude Oil Crude Oil futures fell Monday as supplies from Saudi Arabia and Russia rose while economic growth stumbled in Asia amid escalating trade disputes with the United States. Brent crude fell $1.93 to settle at $77.30. WTI fell to settle down 21 cents at $73.94. The premium for U.S. crude for the front month compared with the second month widened to as much as $2.38 a barrel, the most since Aug. 20, 2014. Cushing supplies are down…
Read MoreCrude Oil Oil prices settled close to 3 and a half year highs as the US pursued its plan to block Iran. Brent crude (August contract) jumped $ 1.62 to settle at $79.12 a barrel. The July contract expired on Friday at $ 79.44 (up $ 1.59). WTI rose 70 cents to settle at $74.15 a barrel. For the week, Brent gained 5.2% while WTI gained 8%. This morning though, crude has opened significantly lower…
Read MoreCrude Oil Oil prices climbed on Thursday, with U.S. crude hitting a three-and-a-half year high, bolstered by supply concerns due to U.S. sanctions that could cause a large drop in crude exports from Iran. Brent crude rose 23 cents to settle at $77.85 a barrel. WTI rose 69 cents to settle at $73.55 a barrel. US Energy Secretary Rick Perry said the global oil market will be “stressed” by Iranian sanctions returning in November, but that…
Read MoreCrude Oil Crude futures continued their meteoric rise upward as the DOE reported a very large draw in crude stocks. Brent crude rose $ 1.31 to settle at $77.62 a barrel. WTI settled $2.23 higher at $72.86 a barrel. The plunging US stockpiles exacerbated the situation caused by the US insisting that the world stop purchasing crude from Iran and the turmoil in Libya. The DOE corroborated the massive draw of close to 10…
Read MoreCrude Oil Crude futures jumped over 2 percent on Tuesday and U.S. oil topped $70 for the first time in two months as Washington pushed allies to halt imports of Iranian crude, which would constrain global supplies. Brent crude rose $ 1.58 to settle at $76.31 a barrel. WTI settled 2.45 higher at $70.53 a barrel. The U.S. government is calling on its allies to zero out imports of oil from Iran by November 4, or else face sanctions, and Washington…
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