Crude Oil Oil futures jumped nearly 3 percent on Wednesday on a decline in U.S. crude inventories and after sources signalled top exporter Saudi Arabia wants to see the crude price closer to $100 a barrel. Brent crude oil futures gained $1.90 to settle at $73.48 /bbl, while U.S. crude futures rose $1.95 to settle at $ 68.47 /bbl. Oil has been supported by the perception among investors that tensions in the Middle East could lead…
Read MoreCrude Oil Oil prices rose on Tuesday, as support from the possibility of supply disruptions and a strong equities market offset the effects of profit-taking following last week’s rally above three-year highs. Brent crude oil futures gained 16 cents to settle at $71.58 /bbl, while U.S. crude futures rose 30 cents to settle at $ 66.52 /bbl. In other news, Russia and Iran are discussing an extension of its oil-for-goods deal by another five years, according…
Read MoreCrude Oil Oil prices retraced on Monday as investor concerns about escalating tensions in the Middle East waned. Brent crude futures settled $ 1.16 lower at $71.42 /bbl. U.S. WTI crude futures also eased $ 1.17 to settle at $66.32/bbl. While hedge funds have built a near record position in Crude oil and refined products, the buying seems to be increasingly concentrated in Brent, reports John Kemp from Reuters. While the net long position in…
Read MoreCrude Oil Crude Oil prices tallied their best weekly performance in 8 months driven by fears of a US led military conflict in Syria. Brent crude futures added 56 cents to settle at $72.58 /bbl. U.S. WTI crude futures rose 32 cents to end the week at $67.39/bbl. For the week, WTI gained about 8.6%, the strongest weekly percentage performance since late July of last year, while Brent saw a weekly increase of 8.2%. This…
Read MoreCrude Oil Oil prices held steady on Thursday, remaining close to highs last reached in late 2014 on tensions over Syria and shrinking global oil inventories. Brent crude futures settled at $72.02 /bbl, down 4 cents. U.S. WTI crude futures were up 25 cents at $67.07/bbl. OPEC released its monthly oil report yesterday evening, which showed its oil output fell 0.201 mb/d to 31.958 mb/d in March. Several members recorded notable declines in March, including Venezuela (-55…
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