Crude Oil A draw in US Crude stocks enabled crude futures to counter the uncertainty caused by trade tariffs yesterday. Front month Brent managed to settle just 10 cents lower at $68.02 /bbl. WTI futures eased 14 cents to to settle at $63.37/bbl. The Crude draw provided immense relief to bulls who were reeling under the impact of the tariffs imposed by the US and China on imports. At one time yesterday, Brent hit a session…
Read MoreCrude Oil Oil edged up on Tuesday, supported by a recovery in the equities market and on a technical bounce for crude after the biggest daily percentage drop in almost a year, but Brent futures stayed well below $70 a barrel. Brent futures gained 48 cents to settle at $68.12/bbl. WTI gained 50 cents to settle at $63.51/bbl. This morning prices are slightly lower as the market still fears the backlash of a trade war…
Read MoreCrude Oil Oil fell by more than 2 percent on Monday, pressured by a rise in Russian production, expectations that Saudi Arabia will cut prices of the crude it sends to Asia and a deepening trade spat between China and the United States. Brent Futures settled $ 1.70 lower at $67.64/bbl. WTI futures lost $ 1.93 to settle at $63.01/bbl. Saudi Arabia was expected to cut prices for all crude grades it sells to Asia in…
Read MoreCrude Oil Crude oil futures ended the day / week / month / quarter strongly, largely in response to a drop in drilling activity in the US. The Brent May future expired 74 cents higher at $ 70.27/bbl. The June Future settled at $69.34/bbl. WTI futures gained 56 cents to to settle at $64.94/bbl. U.S. drillers cut seven oil rigs in the week to March 29, bringing the total count down to 797 as per…
Read MoreCrude Oil Crude oil futures ended the day lower after the DOE confirmed a build in crude stocks. The Brent June crude futures contract, which becomes the front contract from Monday settled 70 cents lower at $68.76 /bbl. The May future, which expires today settled 58 cents lower at $ 69.53/bbl. WTI futures dropped 87 cents to to settle at $64.38/bbl. In other news, Colombia reported that crude production fell 4.7% y/y to 864 kbpd in…
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