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 Slips Toward $69 Ahead of US Supply Report
Oil slipped towards $69 a barrel on Thursday, weighed down by a reported rise in U.S. fuel stocks and expectations that OPEC-led efforts to boost prices by cutting output will increase supply from the United States and other rivals. Crude is still within sight of its highest since December 2014, supported by supply cuts led by the Organization of…
Oil Near 2014 high, Supported by Nigeria Attack Threat
API reports rise in U.S. fuel inventories, drop in crude. Oil held steady above $69 a barrel on Thursday, supported by falling inventories of crude and threats of an attack on Nigeria's petroleum industry, although a reported rise in U.S. fuel supplies weighed. Crude is within sight of its highest since December 2014, supported by supply cuts led…
Oil Prices Rise on Supply Cuts, Tensions
Oil prices rose nearly 1 percent on Thursday, supported by supply cuts by major exporters as well as continuing concern about political developments in Saudi Arabia. Brent crude oil was up 59 cents or 0.9 percent to $64.08 a barrel by 11:30 a.m. (1630), still close to Tuesday's intra-day high of $64.65, which was the highest since June 2015. U.S.
Oil Rises on Stronger Demand, Supply Restrictions
Global oil demand estimates rising; U.S. Gulf oil refineries slowly returning after storms. Oil prices rose on Thursday, building on recent gains after forecasts for stronger oil demand by the International Energy Agency (IEA). Brent crude was up 40 cents at $55.56 a barrel by 1100 GMT, having risen by 89 cents, or 1.6 percent, on Wednesday. U.S.
Oil Steadies Ahead of U.S. Stocks Data
U.S. oil inventories data due in next two days and oil output also rising, dampening price rises. Oil prices steadied on Tuesday, supported by signs that global supply may be tightening gradually and restrained by rising U.S. shale production. Benchmark Brent crude was unchanged at $51.66 a barrel by 1120 GMT. U.S. light, sweet crude was also unchanged on the day at $47.37. "U.S.
Oil Edges Up as U.S. Stocks Fall
U.S. crude oil inventories drop 9.2 mln barrels - API. Oil prices edged up on Wednesday, lifted by declining U.S. crude inventories, although markets were still restrained by excess supply. Market focus was turning to the release of official U.S. Energy Information Administration data later on Wednesday for a further update on inventories. Brent crude futures were at $51.14 per barrel at 1010 GMT…
Oil Prices Steady as Market Awaits US Data, Extended Output Cut
Oil prices were little changed on Wednesday as investors awaited official data on inventories in the United States and the outcome from Vienna where ministers from OPEC and other exporting countries were discussing whether to extend production cuts. Data from the U.S. Energy Information Administration is due to be released at 10:30 a.m. EDT (1430 GMT).
Oil Prices Fall 2% on Rising US Crude Stocks
Oil prices fell about 2 percent on Wednesday as glut worries resurfaced after a reported rise in U.S. crude inventories and as OPEC signalled a growing crude surplus next year unless production cuts by the world's top exporters are implemented. Data from the American Petroleum Institute late on Tuesday showed U.S. crude inventories rose by 4.7 million barrels in the week to Dec.
After OPEC Deal, Oil Expected to Rally
Oil's blistering rally of up to 10 percent to $50 a barrel on Wednesday should continue into next week, analysts and fund managers said, after the world's top producers announced a historic deal to rein in output. The Organization of the Petroleum Exporting Countries reached its first deal to cut oil output since 2008 - signaling its return to managing supply in world markets.
Oil Touches One-Month Low as Freeze Deal Fades
Iran will keep pumping to regain pre-sanctions output; Saudis will freeze output only if Iran participates. Oil held around its lowest in a month on Monday as investors ditched some of their bullish bets on another price rise and the chances that top exporters will agree to rein in overproduction appeared to fade. Iran will continue increasing oil…
Investors Bet on Lower, Longer Oil Price
US crude forwards for Dec 2024 delivery fall below $60; spot crude prices fall back below $40 per barrel. Investors are betting on the oil price staying lower for even longer after OPEC's decision to ditch a formal production ceiling, pushing U.S. crude futures for delivery nearly 10 years away below $60 a barrel. This could possibly harm the ability of U.S.
Oil Rises Back Over $48
Oil prices rose above $48 a barrel on Thursday, propelled by technical buying and as investors re-evaluated U.S. data that showed falling stockpiles of fuel as well as higher crude inventories. Brent for December delivery rose 51 cents to $48.36 a barrel by 1056 GMT. The global crude benchmark finished down 86 cents, or 1.8 percent, on Wednesday, after hitting $47.50, its lowest since early October. U.S.
Oil Tumbles 5 pct after Greek "No" Vote (Update)
Greek 'No' to bailout terms hits global financial markets; China imposes emergency measures to support stock markets. Oil prices tumbled their most in three months on Monday, with U.S. crude falling 5 percent, after Greece's rejection of debt bailout terms and China's rolling out of emergency measures to support its stock markets shook global markets.
