Oil Nudges $50 as Investors Bet on Shrinking Supplies
U.S. crude stocks down 5 mln barrels last week; drawdown due to lost Canada output, strong economy. Oil rose towards $50 a barrel on Wednesday for the first time in seven months, driven by expectations that shrinking supply will help erode any overhang of unwanted crude, particularly after industry data showed a sharp fall in U.S.
Crude Prices Firm Ahead of US Data
U.S. payroll, jobs data may support oil prices; demand outlook improving. Crude oil futures edged up on Friday, building on the week's gains, as traders and analysts eyed U.S. jobs data which could give further momentum to rising prices. Brent futures rose 19 cents to $37.26 a barrel as of 1203 GMT…
Oil Dips, Investors Await U.S. Jobs Data
Oil prices eased in Asian trade on Friday as investors turned cautious ahead of U.S. jobs data later in the day which is expected to play into the Federal Reserve's decision on the timing of any U.S. rate hike. Oil stuck to a narrow range in thin trading, with Chinese…
Glut Drags Oil to 4-Month Low
Chinese stocks fall 8 pct on Monday on growth worries; Brent falls to four-month low of $53.63 a barrel. Oil hit four-month lows on Monday after a steep drop in Chinese stock markets and on more evidence of a global supply glut that has halved prices over the past year.
Oil Edges Higher as Dollar Drops
Oil prices edged higher on Thursday, aided by a drop in the dollar, although rising supplies of crude oil in the United States kept the futures market in a tight range. Crude oil stocks in the United States rose by 2.5 million barrels last week to above the five-year seasonal average…
Oil Flat on Weak Dollar, Rising U.S. Stocks
U.S. crude stocks rise against expectations; OPEC members say price drop will be short-term. The opposing forces of a weaker dollar and evidence of rising U.S. crude stockpiles in an already oversupplied market kept oil prices steady on Thursday. Crude oil stocks in the…
Oil Falls on U.S. Stocks, Record Saudi Output
Saudi oil production hit record 10.3 mln bpd in March and U.S. crude stocks surged by 12.2 mln barrels last week. Oil prices fell towards $58 a barrel on Wednesday as industry data showed a larger-than-expected weekly increase in U.S. stockpiles and as Saudi Arabia reported record output in March.
Brent Crude Slips Below US$97
Brent crude fell for a third day on Wednesday, slipping further below $97 a barrel as inflated supplies and weak economic data from Europe outweighed rising geopolitical tensions in the Middle East. * U.S. The European economic data and a rise in oil exports from Iraq…
Brent Holds Above US$102
Brent crude held above $102 a barrel on Friday, but prices were heading for a second monthly loss as ample supply and softening demand in Europe and China outweighed geopolitical concerns. The European benchmark plunged over 12 percent from a nine-month high reached in…
Brent Crude Holds Near 14-month Low
Brent crude futures steadied near 14-month lows above $101 a barrel on Wednesday, with ample supplies putting prices at risk of further losses as worries over geopolitical tensions ease. Brent crude futures steadied near 14-month lows above $101 a barrel on Wednesday,…
Brent Crude Drops to 13-month Low
Brent crude slipped below $103 a barrel on Wednesday to trade at its lowest level in more than a year as ample supplies counter disruption risks posed by tensions in Iraq and Libya. It was the fourth day of losses for the benchmark and comes after the International Energy…
Brent Slips below $105
Brent crude slipped under $105 a barrel on Monday, dropping from a one-week high hit on Friday, as U.S. intervention in Iraq eased concerns over the risk of disruption to supply from OPEC's second-largest producer. * U.S. Analysts have said that U.S. air strikes on Islamic…
Oil Steady Below $110
New U.S. Brent crude oil was steady below $110 a barrel on Thursday, after hitting a six-week high in the previous session, as traders assessed whether rising tensions in Ukraine could disrupt supplies from Russia. With Russian troops massed on the border with Ukraine and three separatists killed overnight in eastern Ukraine…
Update: Brent Crude Eases Towards $107, Eyes on Libya
Oil prices slipped towards $107 a barrel on Thursday as weaker data from China and OPEC stoked concerns that growth in global oil demand was easing while markets watched for evidence of a resumption in Libyan exports. Chinese exports unexpectedly fell for a second straight month in March and imports dropped sharply…
Brent crude eases toward $107, eyes on Libya
China exports fall for 2nd straight month in March, while U.S. crude stocks rise, at a record on the Gulf coast (EIA). Libya's oil guards take control of Hariga port, Zueitina pending and OPEC sees lower demand for its crude in 2014. Separately, Brent to fall to $107.17.
Ukraine Crisis Pushes up Gold, Oil, Grains
Gold, crude oil and grains surged on Monday while industrial metals slid as investors reacted to escalating tensions between Moscow and Kiev after the Russian military tightened its grip on Ukraine's Crimea region. Concern about supplies pushed up crude oil prices by more than $2 a barrel and wheat and corn by 4-6 percent.
Oil Jumps More than $2 on Ukraine War Risk
Risk to oil flows seen low but Russia key supplier; Russian natural gas supply in doubt, European storage levels high. United States, Europe differ over trade sanctions. Crude oil prices jumped more than $2 a barrel to multi-month highs on Monday, lifted by rising tension…
