Crude Oil Crude Oil closed marginally higher on Friday as traders squared off shorts for the weekend. Brent settled at $ 52.05 / bbl. WTI fell by 37 cents to settle at $ 49.33 /bbl. With Singapore and London closed for the Labor day holiday on Monday, traders were happy to sell in the market bringing prices lower. The sell off was caused by reports that Libyan production had increased to above 760 kbpd, the…
Read MoreCrude Oil Crude Oil appeared to give up all hopes of sustained high prices at one point in time before recovering smartly to finish marginally lower than the previous day. Brent settled 14 cents lower at $ 51.68 / bbl. WTI fell by 37 cents to settle at $ 49.25 /bbl. Brent had hit an intra day low of $ 50.45 / bbl yesterday before recovering most of its losses. The fall could be attributed…
Read MoreCrude Oil In the wake of mixed DOE data, crude prices ended a very choppy day with mixed sentiments. Brent settled 28 cents lower at $ 51.82 / bbl. WTI however, rose by 6 cents to settle at $ 49.62 /bbl. The DOE data surprised the markets in more ways than one. While crude stocks drew a lot more than expected (and with API having reported a build), the market immediately…
Read MoreCrude Oil At the end of a very choppy trading day, Brent settled settled 50 cents higher at $ 52.10 / bbl. WTI also rose by 33 cents to settle at $ 49.56 /bbl. There was not much news on which investors were taking decisions. The only reason we could see for this rise was a desire to be not caught short post API data where draws were expected in crude and all products. API data…
Read MoreCrude Oil After trading in the positive zone till New York opening, Brent finally settled settled 36 cents lower at $ 51.60 / bbl. WTI settled at $ 49.23 /bbl., 39 cents lower. The early positivity was based on optimism that OPEC would extend supply cuts. However, later during the day, not only did any such thing not happen, Russia also stated that in the absence of any agreement on the same, it expects its output…
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