Crude Oil Oil prices inched higher on Monday. Brent crude futures rose 5 cents to settle at $27.03 a barrel. WTI futures for May rose 73 cents to $23.36 a barrel. Both benchmarks traded in negative territory until late in the session. Crude futures were slightly stronger on hopes that government and central bank stimulus might boost world economies. US physical crude markets in Cushing, Oklahoma, on Monday signaled a prolonged period of oversupply, with prompt…
Read MoreCrude Oil U.S. crude tumbled 10.7% on Friday and posted its biggest weekly decline since the 1991 Gulf War as the coronavirus epidemic dried up global demand. Brent crude futures fell $ 1.49 to settle at $26.98 a barrel. WTI futures fell $2.69 to settle at $22.53 a barrel. The more active U.S. crude contract for May settled down $3.28 at $22.63 a barrel. The week featured four days of massive selling as the growing…
Read MoreCrude Oil U.S. crude oil prices spiked by 25% on Thursday, the largest single-day gain on record. Brent crude futures rose $ 3.59 to settle at $28.47 a barrel. WTI futures rose $4.85 to settle at $25.22 a barrel. Oil extended gains late in the day after U.S. President Donald Trump said on Thursday he would get involved in the dispute between Saudi Arabia and Russia “at the appropriate time.” Oil’s respite came as investors across…
Read MoreCrude Oil Oil prices plunged on Wednesday with Brent and WTI hitting levels not seen since 2003 and 2002 respectively. Brent crude futures fell $ 3.85 to settle at $24.88 a barrel. WTI futures fell $ 6.58 to settle at $20.37 a barrel. U.S. crude futures fell even after weekly U.S. data showed notable declines in gasoline and diesel inventories. Saudi Arabia has ignored entreaties to act to balance the market, reiterating plans to maintain…
Read MoreCrude Oil Crude oil prices settled below $30 a barrel on Tuesday as the coronavirus pandemic slowed economic growth and oil demand while Saudi Arabia and Russia kept up their battle for market share. Brent crude futures fell $ 1.32 to settle at $28.73 a barrel. WTI futures fell $ 1.75 to settle at $26.95 a barrel. This is the first time that Brent has settled below $30 per barrel since 2016. WTI crude at…
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