Oil at One-Month High after U.S. Missile Strike
Syria missile strike bears no impact on oil market fundamentals; two Canadian oil sands producers cut output after fuel shortage. Oil prices hit a one-month high on Friday after the United States fired missiles at a Syrian government airbase, sending shockwaves through global markets and raising concerns that the conflict could spread in the oil-rich region. The toughest U.S. action yet in Syria's six-year-old civil war has ramped up geopolitical uncertainty in the Middle East.
Oil Prices Fall as U.S. Inventories Rise
U.S. crude stocks rose by 564,000 barrels last week -EIA. Oil prices fell on Friday after U.S. crude inventories rose for a seventh week, showing that the market is still struggling to ease oversupply despite many producers' efforts to rein in production. U.S. crude stocks rose by 564,000 barrels in the week to Feb. 17, the Energy Information Administration (EIA) said, though the increase was less than the 3.5 million barrels expected by analysts. The continued rise in U.S.
Oil Falls as OPEC Compliance Report Underwhelms
Oil fell more than 1 percent on Monday after an OPEC report showing high compliance with last year's landmark production-cut deal underwhelmed investors while signs of rising U.S. crude output continued to weigh on prices. Global benchmark Brent crude futures were down 96 cents at $55.74 a barrel at 1518 GMT and touched a session low of $55.65. West Texas Intermediate (WTI) crude futures were down 82 cents at $53.04 a barrel and traded as low as $53.01 earlier in the day.
Oil Rises by $1 on Expected Decline in US Crude Stocks
Brent oil prices rose by $1 on Tuesday to a one-week high on forecasts of a steep draw in U.S. crude stocks that could indicate global oversupply is starting to shrink. Benchmark Brent crude futures were trading up 95 cents, or 1.7 percent, at $55.87 a barrel at 1453 GMT. They hit an intraday high of $55.92. U.S. crude futures were up 52 cents at $52.64 a barrel. Both contracts defied a strong dollar, which hit a 14-year high.
Oil Rises on Expected Decline in U.S. Crude Stocks
Weekly U.S. crude stocks seen down 2.4 mln barrels; Russia may extend output cut if needed - Novak. Oil prices rose on Tuesday on forecasts of a steep draw in U.S. crude stocks that could indicate global oversupply is starting to shrink. Benchmark Brent crude oil futures were trading up 56 cents, or 1 percent, at $55.48 a barrel at 1329 GMT. U.S. West Texas Intermediate (WTI) crude futures were up 29 cents at $52.41 a barrel, not far off a one-week high of $52.52.
Oil on Track for First Weekly Loss in Five Weeks
Oil prices fell on Friday as a strong dollar made it more expensive to hold the dollar-denominated commodity, setting contracts up for the first weekly loss in five weeks. Global benchmark Brent crude futures were down 7 cents at $51.31 a barrel at 1337 GMT. U.S. West Texas Intermediate (WTI) crude was trading at $50.33 a barrel, down 30 cents from its last settlement. As the dollar surged to a seven-month high against a basket of currencies…
Oil Falls as Investors Cash in on OPEC Rally
OPEC to agree production cut details at November meeting. Investors expect more oil price swings ahead of Nov OPEC meeting. Oil prices fell on Friday on a stronger dollar and as investors cashed in on a 6-percent rise in just one day after OPEC members agreed to reduce output for the first time in eight years to stifle a two-year price slide. Global benchmark Brent crude futures were down $1.03 at $48.21 a barrel by 1006 GMT…
Oil Hits Two-Week Lows on Growing Supplies
Brent, WTI down 9-10 pct in one week. ExxonMobil prepares Nigerian cargo for end Sept. Oil prices fell to roughly two-week lows on Friday as news of rising Iranian exports and returning supplies from Libya and Nigeria fuelled concerns that the global glut will persist. Benchmark Brent crude futures fell below the $46-a-barrel mark, trading down 1.7 percent at $45.79 a barrel, down 80 cents, at 1045 GMT. U.S.
Oil Steadies, but Glut Concerns Persist
WTI crude briefly dips below $40 a barrel; weaker refinery runs will impact crude demand. Oil edged higher on Tuesday after falling by up to 10 percent in just one week, but investors remained concerned about oversupply weighing on prices. Global benchmark Brent crude was trading up 49 cents at $42.63 a barrel at 1031 GMT. U.S. West Texas Intermediate (WTI) crude was up 38 cents at $40.44 a barrel, after briefly dipping below $40.
Oil Falls on Iran Policy, U.S. Rig Count
U.S. rig count steady for first time this year; Iran has no plan to freeze oil output, exports. Brent crude prices fell for a fourth consecutive session on Monday as investor focus returned to global supply, with Iran insisting on a rise in oil exports and U.S. drillers slowing the reduction in rigs. Global benchmark Brent futures were down 44 cents at $48.28 a barrel by 1148 GMT, on track for a fourth straight day of losses for the first time in a month. U.S.
Oil Falls on Investor Profit Taking
Brent set for biggest weekly loss in nearly four months. Oil prices fell on Friday as investors cashed in on a 20-percent rise over the past month, outweighing the impact of crude production cuts in Canada where a huge wildfire has disrupted oil sands operations. Oil prices were down around one percent by 1234 GMT, with global benchmark Brent prices set for their biggest weekly loss in nearly four months.
Oil Edges Up On Dollar Retreat After Mixed IEA Report
Oil rose slightly on Thursday after the International Energy Agency (IEA) trimmed its forecast for demand growth but said a fall in oil output in the United States was speeding up. Oil rose after data showed consumer prices rising less than expected, pushing the dollar lower. A weaker dollar supports oil, making it more affordable to holders of other currencies. Brent crude futures were up 15 cents from their last close at $44.33 a barrel by 1300 GMT. U.S.
Oil Nears One-Month Low on Weak U.S. Gasoline Demand
U.S. gasoline falls for first time in 14 months -EIA. Oil traded near one-month lows on Tuesday after a surprise fall in gasoline demand in the United States, the world's largest oil consumer, and on doubts whether oil producers can agree an output freeze to dampen a global supply glut. U.S. gasoline demand, one of the strongest pillars supporting oil consumption, fell in January for the first time in 14 months, U.S. Energy Information Administration data showed.
Oil Rallies on OPEC Deal Hopes
Consensus growing within OPEC to counter price fall. Oil prices rose on Monday, extending a rally triggered last week by speculation that OPEC might agree to cut production to reduce a supply glut that has pushed prices to the lowest in over a decade. Brent crude futures, the global benchmark, were up 46 cents at $33.82 a barrel at 1232 GMT. U.S. futures traded at $30.02 a barrel, up 58 cents on Friday's close. Trade is likely to be thinner than usual on Monday due to the U.S.
Oil Falls on China Data, Stronger Dollar
China's rail freight volumes log steepest ever decline in 2015; Middle East tensions rise as Kuwait recalls Iran ambassador. Oil prices fell on Tuesday on concerns about the pace of economic growth in China and a stronger U.S. dollar, handing back some of the gains triggered by an escalation of tensions in the Middle East. Global benchmark Brent crude prices were down 22 cents at $37 a barrel at 1057 GMT. U.S. West Texas Intermediate (WTI) crude slipped 4 cents to $36.72 a barrel.
Political Tension Lifts Oil, but Glut Weighs
Risk premiums rise after Paris terror attacks; analysts see oil prices remaining weak. Oil prices edged up on Monday because of heightened political and security tensions after Friday's deadly attacks in Paris claimed by Islamic militants, but a global glut of crude supplies capped rises. France carried out large-scale air strikes against Islamic State sites in Syria overnight, giving oil market investors…
U.S. Oil at Five-Month High, Dollar Weakens
Dollar index slips to two-month low. Brent to average $60, WTI $54.40 in 2015. U.S. crude oil hit a five-month high on Thursday as the dollar slipped to its lowest since February and as more evidence emerged of a gradual balancing of the U.S. domestic market. The U.S. currency slipped to a two-month low against a basket of currencies as the euro and yen rallied, making oil less expensive for holders of other currencies.
