Crude Oil Oil prices ended the day slightly higher as markets still appear undecided about the effects of the US action. Brent futures rose 26 cents to settle at $ 77.47 /bbl while U.S. crude futures gained 22 cents to settle at $ 71.36 /bbl. Observers of intra-day price action would have noticed the strong uptick in the last 45 minutes of trading which, in the absence of any fresh news seems like algo trading. In…
Read MoreCrude Oil Oil prices rose about 3 percent on Wednesday and hit fresh 3-1/2 year highs after a bigger-than-expected drawdown in U.S. oil inventories extended gains from the United States’ decision to quit a nuclear deal with Iran. Brent futures rose $2.36 to settle at $ 77.21 /bbl while U.S. crude futures climbed $ 2.08 to settle at $ 71.18 /bbl. Both crude futures notched their highest gains in over a month. However, it may be…
Read MoreCrude Oil Oil futures jumped this morning after dipping yesterday as the US announced its exit from the international nuclear deal with Iran. Yesterday, Brent futures settled $1.32 lower at $74.85 /bbl while U.S. crude futures gave up $1.67 to settle at $ 69.07 /bbl. This morning though, prices have jumped back up to levels of Monday close with Brent trading at $76.65 at the time of writing. Walking away from the deal means…
Read MoreCrude Oil Oil futures continued their frenzied march upwards on the uncertainty about sanctions on Iran. Brent futures gained another $1.30 to settle at $76.17 /bbl while U.S. crude futures gained $1.01 to settle at $ 70.73 /bbl. However, Oil prices retreated this morning after President Trump said he will make his decision known at 1800 GMT today. Sanctions could immediately affect Iran’s export to the tune of 200-300 kb / day. Naphtha Asia’s…
Read MoreCrude Oil Oil prices continued to surge after the US and Iran appeared to be in a standoff about changing the existing Iran deal. Brent futures gained $1.25 to settle at $74.87 /bbl while U.S. crude futures gained $1.35 to settle at $ 69.72 /bbl. WTI touched a high of $ 69.97 /bbl, its highest since November 28, 2014. For the week, Brent gained 1.5% while WTI gained 2.4%. This was the fourth week…
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