Crude Oil The prospect of higher OPEC supplies continued to worry the markets as oil prices dipped on the last day of the week. Brent crude futures dropped 80 cents to settle at $76.79 /bbl. U.S. West Texas Intermediate (WTI) crude futures fell by $ 1.23 to settle at $65.81 /bbl, their lowest finish since April 10. For the week Brent crude gained 0.4%. WTI however, lost 3% in addition to the 5% it lost…
Read MoreCrude Oil U.S. oil fell nearly 2 percent on Thursday, despite a larger-than-expected decline in U.S. crude inventories, while global benchmark Brent was little changed, pushing the spread between the two to its widest in more than three years. Brent crude futures gained 9 cents to settle at $77.59 /bbl. U.S. West Texas Intermediate (WTI) crude futures fell by $ 1.17 to settle at $67.04 /bbl. Brent crude losses were more limited, as the prospect…
Read MoreCrude Oil Crude prices rebounded as indications emerged that the production cuts may not be lifted as dramatically as thought earlier. Brent crude futures gained $2.11 to settle at $77.50 /bbl. U.S. West Texas Intermediate (WTI) crude futures gained much less i.e. $1.48 to settle at $68.21 /bbl. A Gulf source familiar with the thinking of Saudi Arabia said OPEC and its allies aim to continue their agreement to cut oil output by the end…
Read MoreCrude Oil The market continued its fall over the last two days as it digested the impact of Saudi Arabia and Russia raising production. Brent crude futures fell $1.07 to settle at $75.39 /bbl. U.S. West Texas Intermediate (WTI) crude futures dropped $1.15 to settle at $66.73 /bbl. Oil prices were also impacted by falling stock markets and a stronger US dollar as the Feds have signalled an imminent rate hike. Markets will look at…
Read MoreCrude Oil Crude prices plunged on Friday to finish at their lowest levels in weeks, as reports said OPEC and Russia are considering lifting production by as much as 1 million barrels a day as early as June to meet the shortfall in supply from Iran and Venezuela. Brent crude futures fell $2.36 to settle at $76.46 /bbl. U.S. West Texas Intermediate (WTI) crude futures dropped $2.83 to settle at $67.88 /bbl. Brent lost 2.6% for the week,…
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