Oil Price Digest

Crude Oil Oil prices settled higher in see-saw trade on Friday, as political tensions in the Kurdistan region continued to disrupt crude supplies. Brent closed 52 cents higher at $57.75 /bbl while the expiring November WTI future gained 18 cents to close at $ 51.47 /bbl. The December WTI future, which becomes front month today, gained 33 cents to settle at $ 51.84 /bbl. Fueling the bullish sentiment this week will be the news that…

Crude Oil The rising streak in Crude prices was finally arrested after 4 days. Brent closed 92 cents higher at $57.23 /bbl while WTI gained 75 cents to settle at $ 51.29 /bbl. We had mentioned in yesterday’s issue of the Oil Price Digest that in our opinion, the stock data was more bearish than appeared up front. That being the case, prices should not be sustainable at those levels on the grounds of geopolitical risk…

Crude Oil Crude prices closed higher yesterday after the DOE released data that was difficult to interpret without deep analysis. Brent closed 27 cents higher at $58.15 /bbl while WTI gained 16 cents to settle at $ 52.04 /bbl. A higher than expected crude draw seemed apparently bullish, especially when combined with a reduced run rate. However, a deeper inspection of the figures, which we shall do later seems to suggest that the data is…

Crude Oil Crude ended the almost unchanged after see sawing through the day. Brent settled 6 cents higher at $57.88 /bbl while WTI gained 1 cent to settle at $ 51.88 /bbl. The absence of any fresh news in either direction, confirmed what we said yesterday i.e. a lot more is required to push crude oil prices higher. The huge crude draw in the API data could act as a trigger though they would need…

Crude Oil Crude ended the day around 1% higher as Iraqi forces entered the city of Kirkuk and seized it from Kurdish rebels, briefly shutting output down. Brent settled 65 cents higher at $57.82 /bbl while WTI gained 42 cents to settle at $ 51.87 /bbl. Adding to the geopolitical tension are renewed worries over U.S. sanctions against Iran. U.S. President Donald Trump on Friday refused to certify that Tehran was complying with the accord even though…