Crude Oil Crude Oil shrugged off bearish DOE data as traders chose to focus on possible geopolitical tension ahead. Brent closed $1.02 /bbl higher at $72.06 /bbl while WTI gained $1.31 /bbl to settle at $66.82 /bbl. If one watched the price action, the market spiked up immediately after the bearish data as traders seemed to be wanting to take that data point into consideration before increasing length. In the frenzied buying that followed, stops…
Read MoreCrude Oil Crude Oil prices continued to sruge further as tensions of trade wars receded further and the dollar weakened. Brent closed $2.39 /bbl higher at $71.04 /bbl while WTI gained $2.09 /bbl to settle at $65.51 /bbl. In post settlement trading Brent touched $ 71.34 /bbl, a level not seen since December 2014. Yesterday’s gains were the largest single day gains since September. In the last two days, oil prices have gained more than…
Read MoreCrude Oil Crude Oil prices surged more than 2 % on Monday amid easing apprehensions of a trade war between the United States and China. Brent closed $1.54 /bbl higher at $68.65 /bbl while WTI settled $1.36 /bbl higher at $63.42 /bbl. In intraday trading, Brent prices gained 2.3 %, its largest daily percentage gain since March 21. Similarly, WTI witnessed a 2.2 % gain, its largest daily percentage rise since March 23 earlier this year. Save…
Read MoreCrude Oil Crude Oil prices settled at their lowest level in two weeks as investors moved away from riskier assets amid fears that a trade war between the world’s two largest economies could deal a blow to global growth. Brent futures settled $ 1.22 lower at at $67.11 /bbl. WTI futures lost $ 1.48 to settle at $62.06/bbl. For the week, WTI lost about 4.4%, its biggest such decline since the week ended Feb. 9,…
Read MoreCrude Oil Oil prices rose on Thursday, helped by gains in U.S. equities markets and Saudi Arabia’s unexpected hike in crude prices. Brent futures settled 31 cents higher at at $68.33 /bbl. WTI futures rose 17 cents to to settle at $63.54/bbl. Saudi Arabia said that it would increase its official selling price for May crude. This was taken by the market as a bullish move. The rationale being that if Saudi could effect all…
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