Crude Oil Having pushed up prices by over 11% in the last week, the market seems to be taking a breather as it assesses the probability of OPEC delivering on the agreement it proposes to thrash out. Not even an unexpected draw reported by the EIA (1.3 Million Barrels) could bolstere the market as $48.95 / bbl and WTI settled at $ 47.96 / bbl both marginally lower than the previous day. Naphtha The Naphtha market…
Read MoreCrude Oil While Oil ended up little changed for the date, the intra day movement was quite dramatic as headlines drove the markets first one way and then the other. Brent scaled up to rise to just 4 cents short of $50/bbl as a Nigerian official said that everybody would be on board. However, after subsequent reports that OPEC could defer its decision, markets tanked to head into negative territory. Essentially the challenge still remains…
Read MoreCrude Oil With no negative news to pull the market down today, the bulls finally got the bit between their teeth and sent the crude markets screaming to new highs in much the same manner that they had in early to mid October this year. Brent settled at $ 48.90 / bbl up by over $2 /bbl. WTI settled at $ 47.49 / bbl Markets are continuing their climb early this morning. How high this…
Read MoreCrude Oil Crude prices rise higher on Friday as persistent buying to insure against OPEC action pushed markets higher. Brent settled higher by 37 cents / bbl at $ 46.86 /bbl. WTI too rose by 27 cents to settle at $ 45.69 / bbl. Crude oil is trading approximately 35 cents higher today morning Oil prices today are totally dependent on this OPEC story. The rig count in the US rose by 19 this week, a…
Read MoreCrude Oil Crude prices strove to rise higher in anticipation of agreement in OPEC but the rally ran out of steam in the face of increased crude stockpiles and a stronger US$ Brent settled lower by 14 cents / bbl at $ 46.49 /bbl after being up by over $ 1/bbl over the previous settle during the day. WTI settled at $ 45.42 / bbl, down 15 cents. Crude oil is trading approximately 50 cents lower…
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