Crude Oil Oil prices climbed above $80 a barrel on Thursday for the first time since November 2014, before retreating on a stronger dollar and lack of fresh supportive data to Wednesday’s levels. Brent rose 2 cents to settle at $ 79.30 /bbl. West Texas Intermediate crude settled flat at $ 71.49 /bbl. In the meanwhile, in a joint statement, the Saudi and UAE energy ministers said that oil markets remain well-supplied, with the recent…
Read MoreCrude Oil Oil prices continued to zoom on Wednesday as the DOE reported draws across the board. Brent rose 85 cents to settle at $ 79.28 /bbl. West Texas Intermediate crude rose just 18 cents to settle at $ 71.49 /bbl. While domestic production has risen marginally, the Brent WTI spread has really blown out in the last week or so to just under $ 8.00 /bbl. In other news, the IEA has revised global…
Read MoreCrude Oil Oil prices continued to rise on Tuesday as uncertainty about sanctions impact continued. Brent 20 cents to settle at $ 78.43 /bbl. West Texas Intermediate crude rose 35 cents to settle at $ 71.31 /bbl. Crude prices fluctuated wildly during the US trading day with Brent hitting a peak of $79.47 before touching a low of $77.91 /bbl. This sort of movement can be expected to continue till some clarity is obtained on…
Read MoreCrude Oil Oil prices rose on Monday as OPEC reported that the global oil glut has been virtually eliminated. Brent gained $ 1.11 to settle at $ 78.23 /bbl. West Texas Intermediate crude rose 26 cents to settle at $ 70.96 /bbl. WTI’s discount to Brent was as much as $ 7.28 /bbl, its widest since Dec. 12 on surging U.S. output. In its latest monthly report, OPEC now expects global oil demand to rise…
Read MoreCrude Oil Oil prices ended the day marginally lower as the markets still look for clearer signs of direction. Brent futures fell 35 cents to settle at $ 77.12 /bbl while U.S. crude futures eased 66 cents to settle at $ 70.70 /bbl. Brent crude futures, closed the week up 2.8% . WTI crude futures ended the week up roughly 1.4%, for the fourth positive week in five.. U.S. drillers added 10 oil rigs in the…
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