Crude Oil Crude oil futures ended the day marginally lower yesterday as profit taking battled Middle East tensions battled trade war fears battled excess supply. Brent crude futures settled just one cent lower at $70.11 a barrel. WTI futures gave up 30 cents, to end at $65.25/bbl. Another factor moving prices yesterday was the strong recovery in the US Dollar as trade fear concerns eased out. Crude prices also spiked briefly on Tuesday after Reuters reported that Saudi…
Read MoreCrude Oil Crude oil futures slipped on Monday as investors cashed in some profits from last week’s rally but concerns about Saudi-Iran tensions kept losses in check. Brent crude futures slipped 33 cents to settle at $70.12 a barrel. WTI futures also lost half 33 cents, to end at $65.55/bbl. The Iraqi oil ministry is carrying out maintenance at SPM-3, one of Iraq’s four single-point moorings in the Persian Gulf. The SPM is connected to…
Read MoreCrude Oil Oil prices rallied sharply to end at an eight-week high on Friday, as the prospect of an extension to OPEC-led production cuts into next year helped futures notch their largest weekly advance since July. Brent crude jumped $ 1.54 to settle at $70.45 / bbl. WTI futures also gained $ 1.58 to settle at $ 65.88 /bbl. Oil’s impressive gains defied a slump in global stock markets, which sank in response to worries…
Read MoreCrude Oil Oil prices fell on Thursday as investors took profits after this week’s rally and as U.S. stock markets fell. Brent crude fell 56 cents to settle at $68.91 / bbl. WTI futures also fell 87 cents to settle at $ 64.30 /bbl. The fall was limited as the underlying causes for bullish sentiment still remain intact. However, uncertainty would prevail going ahead as the prospects of a trade war loom The US has…
Read MoreCrude Oil Oil hit a six-week high on Wednesday, closing in on a 3-year peak set in late January, on a surprise decline in U.S. inventories, strong compliance on OPEC production cuts, and persistent concern related to the Iran nuclear deal. Brent crude rose $ 2.05 to $69.47 / bbl. WTI futures rose $ 1.63 to settle at $ 65.17 /bbl, their highest price since Feb 2. Crude prices were also lifted by a slump…
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