Crude Oil Oil prices fell to a one-month low on Wednesday after U.S. data showed a build in inventories and record high crude production, raising worries of more selling that could expose speculators with big bets on upward momentum in crude prices. Brent crude futures lost $ 1.35 to settle at $ 65.51 /bbl. WTI lost $ 1.60 to close at $61.79 /bbl. The fall in WTI in particular came with a volume of 957,000…
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Crude Oil Oil fell for a third day on Tuesday as the U.S. dollar rose to its highest in more than a week. Brent crude futures lost 76 cents to settle at $ 66.86 /bbl. WTI fell by 76 cents to close at $63.39 /bbl. While US equity markets recovered strongly yesterday after chopping trading (the Dow Jones Industrial Average range for the day was 1100 points), this did not translate back into the Energy…
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Crude Oil Oil prices settled lower on Monday as rising U.S. output, a weaker physical market and recent dollar strength added to the pressure from a widespread decline across equities and commodities markets. Brent crude futures lost 96 cents to settle at $ 67.63 /bbl. WTI fell by $ 1.30 to close at $64.15 /bbl. The fall is mainly attributable to a global sell off in equities and commodities. The US Dow Jones Industrial Average…
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Crude Oil Oil prices finished lower on Friday to tally a loss for the week, as traders weighed a steady increase in U.S. output against OPEC’s ongoing efforts to drain the market of excess supplies. Brent crude futures gave up $ 1.04 to settle at $ 68.58 /bbl. WTI eased by 35 cents to close at $65.55 /bbl. The deep decline in Brent narrowed the gap between it and WTI to its narrowest since August;…
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Crude Oil Oil rose on Thursday after a survey showed OPEC’s commitment to its supply cuts remains in place, even as U.S. production topped 10 million barrels per day for the first time since 1970. On its first day as the front-month, the Brent crude future for April delivery rose 76 cents to settle at $ 69.65 /bbl. WTI jumbed by $ 1.07 to close at $65.80 /bbl. A decline in the US dollar added…
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