Oil Nears $66 on U.S. Inventories, Iraq Violence
U.S. crude stockpiles fall for third week; Islamic State attacks in Iraq support prices. Oil rose towards $66 a barrel on Thursday, gaining for a second day, supported by expectations that a global supply glut is starting to ease and by fighting in Iraq. The U.S.
Oil Nears $62 on Libya Violence
Egypt bombs Islamic State targets in Libya; no supply from Libya's El Sarir oil field after pipeline sabotage. Oil rose to near $62 a barrel on Monday, supported by concerns over the escalating conflict with Islamic State militants in Libya and predictions of lower supply levels in the second half of the year.
Brent Above $48 After U.S. Stocks Soar
U.S. crude futures remain close to six-year lows; Crude buying for storage supporting prices. Brent oil futures held above $48 a barrel on Thursday as speculator buying on hopes for a price rebound offset data showing record-high U.S. crude stocks. U.S.
Oil Near $65, Traders See More Downside
Brent close to lowest since 2009 on ample supplies. OPEC sees lower demand, Saudi questions need for output cut. Oil edged higher on Thursday towards $65 a barrel helped by a weaker U.S. dollar, although prices remained close to a five-year low on signs…
Oil Rises Above $85 on Saudi Supply Cut, Strong Data
Brent crude oil rose above $85 a barrel on Thursday on news Saudi Arabia cut its supply to the market in September, even though its overall production grew month on month, and on strong economic data from Europe and China. OPEC's largest producer pumped 9.7 million barrels per day (bpd) in September…
Oil up after China Demand News
Oil prices were up at midday on Tuesday after an early rally aided by data showing stronger-than-expected China demand and some technical price recovery after weeks of almost uninterrupted selling. Unflattering global economic data, especially out of Europe…
Oil Weakens More on Rising Supply
Brent crude fell further under $97 a barrel in choppy trading on Thursday as abundant supply and a strong U.S. dollar largely outweighed worries conflict in the Middle East disrupting output. But after Brent fell close to $95 a barrel on Wednesday, traders said prices may stabilise for now.
Oil Rebounds Towards $105 from 9-month Closing Low
Brent crude oil rose towards $105 a barrel on Wednesday, bouncing from its lowest close in nine months, after industry data showed a large drop in U.S. crude stocks last week. Investors have become increasingly nervous about weak seasonal demand and poor…
Brent Holding at $107 on U.S. Crude draw, Russia Sanctions
U.S. crude stockpiles down 7.5 mln barrels last week; Chinese economic growth quickens to 7.5 percent in Q2. Washington slaps toughest sanctions yet on Russia. Brent oil held above $107 a barrel on Thursday with a sharp drop in U.S. crude stockpiles boosting…
Oil hits One-Month Low as Supply Worries Wane
Libya restarts 340,000 bpd El Sharara oilfield; speculative length coming out of the market. Brent crude oil traded at a one-month low below $109 a barrel on Wednesday after a Libyan oilfield restarted and supply worries faded, prompting traders to reduce long positions.
Oil Flat as Iran Relations Thaw Offsets Iraq Fears
Oil was steady at around $113 per barrel on Tuesday, as signs of a thaw in relations between Iran and the West offset fears that Iraqi exports could be hit by spreading violence in OPEC's second-biggest oil exporter. Scores of Iraqis were killed on Tuesday during a battle for a provincial capital…
Oil Prices High amid Iraq Violence
Oil prices jumped to nine-month highs on Thursday, as concerns mounted that escalating violence in Iraq could disrupt oil supplies from the second-largest OPEC producer. Sunni Islamist militants, who took over Iraq's second-biggest city Mosul earlier this week…
Oil at Three-Month High on Iraq Anxiety
Oil prices surge as Iraq violence escalates; European shares stable as growth concerns cap gains. Oil prices hit a three-month peak on Thursday on worries escalating violence in Iraq may disrupt supply while European shares stabilised near 6-1/2-year highs with gains capped by global growth concerns.
Brent Slips Towards $108
Brent crude oil futures slipped towards $108 a barrel on Tuesday, reflecting weak European refining demand, but reasonable Chinese manufacturing data helped keep a floor under prices. Brent futures for July were down 36 cents at $108.47 a barrel by 1351 GMT. U.S. crude was down 12 cents at $102.35 a barrel.
Oil Steady Above $109 on Multiple Variables; U.S. Stockpiles Rising
Libyan output capped at 210,000 bpd; western oilfields still shut; Total moves staff from Tripoli; Sonatrach withdraws staff from Libya. Statoil shuts Snorre B platform in North Sea after oil leak and U.S. crude stocks rose 1 mln barrels last week. Brent…
Oil Slips on China PMI; Libya in Focus
Oil slipped below $108 a barrel on Monday, as a survey showing activity in China's manufacturing sector contracted for a fourth month and signs of progress in restoring some of Libya's oil output outweighed rising tension in Ukraine. The HSBC/Markit purchasing…
Oil Prices Slip as China, Higher Supply Weigh
Oil fell below $107 a barrel on Thursday to its lowest in more than three weeks following lacklustre Chinese economic data, the prospect of a rise in Libyan oil supply and record-high U.S. inventories. China's Purchasing Managers' Index rose marginally in April…
Update: Brent Dips on Weak Demand Outlook
Brent oil futures dipped towards $107 a barrel on Friday following a weaker outlook for 2014 global demand growth from the International Energy Agency and due to expectations that more Libyan crude will reach the market next week. Brent crude was down 8…
Oil Holds around $110
Brent crude oil steadied around $110 a barrel on Monday, resisting sharp declines in some other risk assets on news of further supply losses in Africa and expectations of revived oil demand growth. Libyan oil output plunged further over the weekend, falling to 230…
