Oil Price Digest

Crude Oil Oil prices ended largely unchanged on Tuesday as a weaker dollar spurred a rebound from an early slide after the IEA forecast that supply could outstrip demand. Brent crude futures settled 13 cents higher at $ 62.59 /bbl.  WTI, however, gave up 10 cents to close at $59.19 /bbl.  The IEA in a shortened monthly Oil Market report commented “Today, having cut costs dramatically, US producers are enjoying a second wave of growth…

Crude Oil Oil prices ended the day little changed  on the day as global equities began to recoup some losses from their biggest one-week decline in two years. Brent crude futures settled 20 cents lower at $ 62.59 /bbl.  WTI, on the other hand, gained 9 cents to close at $59.29 /bbl.  The market had opened up with a gap as traders hoped that the crash of the last week was behind the markets. At…

Crude Oil Oil prices finished lower for a sixth straight session on Friday to tally their worst weekly loss in two years, as investors continued to fret over soaring U.S. output levels. Brent crude futures tumbled $ 2.02 to settle at $ 62.79 /bbl.  WTI also sank $ 1.90 cents to close at $59.20 /bbl.  For the week, WTI crude lost roughly 9.6%, which was the biggest such decline since January 2016, while Brent gave…

Crude Oil Oil prices fell to their lowest in seven weeks on Thursday amid fears of rising global supplies after Iran announced plans to increase production and U.S. crude output hit record highs. Brent crude futures lost 70 cents to settle at $ 64.81 /bbl.  WTI lost 64 cents to close at $61.15 /bbl.  Both benchmarks fell for the fifth straight day, the longest losing streak for Brent since November 2017 and for WTI since…