Crude Oil Oil prices rose on Monday in volatile trade as market participants lowered their expectations for how much OPEC might increase production and investors assessed the impact of a trade dispute between the United States and China. Brent crude futures settled $ 1.90 higher at $ 75.34 / bbl. WTI futures rose 79 cents to settle at $ 65.85 /bbl. WTI’s crude’s discount to Brent widened to as much as $9.75 a barrel, after…
Read MoreCrude Oil Oil prices took a beating on Friday as the market braced for higher global supplies. Brent crude futures settled $ 3.30 lower than Thursday’s close (Friday being a holiday in Singapore). The loss on Friday itself was $ 2.50 /bbl. WTI futures gave up $ 1.58 over the last two days to settle at $ 65.06 /bbl. As a matter of fact it had gained 25 cents on Thursday as the WTI Brent…
Read MoreCrude Oil Oil prices rose yesterday on the back of fairly bullish data released by the DOE. Brent crude futures settled 86 cents higher at $76.74 /bbl. WTI futures rose 28 cents to settle at $ 66.64 /bbl Late in the session, crude prices slipped slightly as the Federal Reserve raised interest rates, a move that was widely expected but still marked a milestone in the U.S. central bank’s shift from policies used to battle…
Read MoreCrude Oil Brent prices fell yesterday even as the Brent-WTI spread continued to narrow. Brent crude futures settled 58 cents lower at $75.88 /bbl. WTI futures, however, gained rose 26 cents to settle at $ 66.36 /bbl The narrowing of the spread is an indication that the market does not expect crude supplies to tighten further. While this depresses Brent prices, WTI prices are not really subject to the same sort of pressures and most…
Read MoreCrude Oil Brent prices remained unchanged as the Brent-WTI spread narrowed yesterday. Brent crude futures settled at $76.46 /bbl. WTI futures rose 36 cents to settle at $ 66.10 /bbl The uncertainty in the market can be gauged from the fact that Brent recovered from a low of $ 75.54 to end the day unchanged. Nayara Energy (formerly Essar Oil) has started scaling back oil purchases from Iran this month, according to a Reuters report. Sources…
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