Oil Rises as Investors Latch on to OPEC Cuts, Supply Outlook
Oil rose on Monday, reversing earlier losses, as investors latched on to positive supply-side drivers for the market, although concern about the wider economy simmered in the background after data pointed to a slowdown in China.Brent crude oil futures were up 12 cents at $62.82 a barrel by 1520 GMT, while U.S. crude futures were up 9 cents at $53.89 a barrel.Analysts said a more robust backdrop for financial markets…
Oil Slips Back Toward 18-month Lows
Oil prices fell on Thursday after rebounding 8 percent in the previous session, as worries over a glut in crude supply and concerns over a faltering global economy pressured prices.Brent crude oil dropped $1.67 a barrel, or 3.1 percent, to a low of $52.80 before recovering to around $53.45 by 1415 GMT. U.S. light crude oil slipped $1.30 to…
Oil Rises After Russia Leans Towards Output Cut
Oil reversed course and rose as much as 3 percent on Thursday, after industry sources said Russia had accepted the need to cut production, together with OPEC ahead of its meeting next week.Prices, however, were still set for its biggest one-month fall in November since the depths of the financial crisis in 2008, having lost about 22 percent so far.A seemingly relentless rise in crude supply from the United States…
Oil Falls After Libyan Ports Reopen, Trump Tariff Threat
Global oil benchmark Brent fell more than $2 a barrel on Wednesday after U.S. President Donald Trump threatened to levy new tariffs on China and Libya announced the reopening of key oil export terminals.The spectre of tariffs on a further $200 billion of Chinese goods sent commodities lower along with stock markets, as tension between the world's biggest economies intensified.Brent crude fell $2.10…
Oil Set for Weekly Drop as U.S. Inventories Weigh
OPEC to meet U.S. shale producers in Houston; U.S. crude output hit all-time high in November. Oil prices were set to post their first weekly fall in three weeks on Friday after news of U.S. plans to impose tariffs on steel and aluminium hit global equity markets and as U.S. crude inventories climbed. President Donald Trump said he would impose hefty tariffs to protect U.S.
Oil Nears One-Month Low, Market Volatility Weighs
Oil prices neared their lowest in a month on Monday as rising U.S. output and a weaker physical market added to the pressure from a widespread decline across equities and commodities. Friday's U.S. jobs report that showed the fastest wage growth in nearly nine years exacerbated a broader market sell-off that was already under way as European stocks backed off record highs, and a rising dollar dented commodities.
Oil Nears 2015 Highs on OPEC News, Fewer U.S. Rigs
Brent has risen by more than 10 pct since December, but soaring U.S. crude production could undermine rally. Oil prices rose on Monday, coming close to new three-year highs on a slight decline in the number of U.S. rigs drilling for new production and sustained OPEC output cuts. U.S. West Texas Intermediate (WTI) crude futures had risen to $61.94 a barrel by 1140 GMT, 50 cents above their last settlement.
Oil Edges up Again, but U.S. Supplies Worry
U.S. drilling activity continues to rise; OPEC's supply cuts undermined by higher U.S. output. Oil edged up for a third straight session on Monday, climbing off last week's seven-month lows but with gains capped by the relentless rise in U.S. supply and bloated global inventories. Investors in U.S. crude futures and options increased their bets against a further rise in prices, as the number of U.S.
Oil Eases from 5-Week Highs, U.S. Shale Weighs
Brent, WTI fall after climbing to highest since March 7; traders may be squaring before U.S. inventory data. Crude oil edged back from a five-week high on Tuesday, as rising U.S. shale oil production weighed against support from tensions in the Middle East and production cuts in OPEC and other states. Brent crude, the international benchmark for oil…
Oil Steady but Libyan Production Rising
Libya restarts its largest oil field over weekend. Oil futures held steady on Monday as a rebound in Libyan oil production over the weekend weighed against upbeat economic data from Asia that pointed to strong energy demand from the region. International benchmark Brent futures climbed 4 cents to $53.57 a barrel by 0952 GMT. U.S. West Texas Intermediate crude futures were 8 cents higher at $50.68 a barrel.
Oil Touches Three-Month Lows
U.S. oil rig counts rise to most since September 2015. Oil hovered around three-month lows on Monday, as rising U.S. inventories and drilling activity offset optimism over OPEC's efforts to restrict crude output. Brent crude was down 7 cents on the day, at $51.30 a barrel by 1202 GMT, having hit a session trough of $50.85, its lowest level since Nov. 30. U.S.
Oil Slips on Dollar's Strength but OPEC Provides Balance
OPEC secretary general optimistic on output cuts. Global oil prices slipped on Wednesday as the U.S. dollar, in which payments for crude are made, rose but they traded broadly at multi-week highs after OPEC signalled optimism over its deal with other producers to curb output. The U.S. West Texas Intermediate April crude contract , the new front-month future…
Oil Pares Gains as U.S. Supply Concerns Overshadow OPEC Cuts
Oil pared gains on Tuesday as concerns about rising supply from U.S. shale output overshadowed an OPEC-led effort to cut global output, which has supported oil prices in a higher range. Brent crude was 61 cents higher at $56.20 a barrel by 11:30 Eastern (1530 GMT), after earlier rising to $56.46 a barrel. U.S. light crude was up 45 cents at $53.38. The two benchmarks fell 2 percent on Monday.
Oil Rises as OPEC-led Cuts Trim Supply
OPEC cuts support oil prices above $50 per barrel; rising shale output and trader scepticism cap market. Oil strengthened slightly on Tuesday, supported by an OPEC-led effort to cut output while rising production elsewhere kept prices within the narrow ranges that have contained them so far this year. Brent crude was 55 cents higher at $56.14 a barrel by 1220 GMT. U.S. light crude oil was up 45 cents at $53.38.
Weaker Dollar, Saudi Ouput Pledge Propels Oil
Saudi commitment to cut output supports crude prices; investors doubt prices will rise further. Oil prices rose on Tuesday, supported by a falling U.S. dollar and Saudi Arabia saying it would adhere to OPEC's commitment to cut output. Gains were capped by rising U.S. production and scepticism that the Organization of the Petroleum Exporting Countries (OPEC) as a whole would comply with its commitments to reduce supplies.
Oil at 18-month High as Markets Eye Output Cuts
Crude benchmarks hit highest levels since July 2015; OPEC, non-OPEC cut deal took effect on Sunday. Oil prices hit 18-month highs on Tuesday, the first trading day of 2017, buoyed by hopes that a deal between OPEC and other big oil exporters to cut production, which kicked in on Sunday, will drain a global supply glut. Benchmark Brent crude jumped more than 2 percent to a high of $58.37…
Oil Near Annual Peaks Awaiting OPEC Cuts
Venezuela says to cut 95,000 bpd output in new year; Iran expects OPEC to abide by agreement. Oil prices rose for a fourth consecutive session on Wednesday to trade above $56 a barrel, not far off their peaks since mid-2015, with the market awaiting evidence of OPEC supply reductions in the new year. International Brent crude futures were up 36 cents at $56.45 a barrel by 1000 GMT. Brent hit $57.89 on Dec.
Oil Prices Edge Up on Softer Dollar, OPEC Cut Expectations
Oil prices edged up in tepid trading on Thursday, supported by strong U.S. data, a pause in the U.S. dollar rally and optimism that crude producers would abide by an agreement to limit output to prop up prices. The gains were curbed by an unexpected rise in U.S. crude inventories last week and moves by Libya to boost output over the next few months.
Oil Dips on U.S. Stock Rise, Libya Output Boost
OPEC, Russia expected to abide by pact to cut output. Oil prices slipped in tepid trading on Thursday, pressured by an unexpected rise in U.S. crude inventories last week and moves by Libya to boost output over the next few months. The decline was curbed by a weaker dollar and optimism that crude producers would abide by an agreement to limit output to prop up prices.
Oil Rallies Despite OPEC Output Cut Doubts
U.S. crude inventories down 2.4 mln barrels last week; jury out on proposed OPEC oil production cuts. Oil prices recovered above $50 a barrel on Thursday, bouncing back from the week's lows as the dollar weakened against major currencies. The U.S. dollar index fell as Treasury bond yields eased and investors eyed next week's Federal Reserve meeting.
