Oil Surges After OPEC+ Extends Cuts
Oil prices jumped about 3% on Friday, hitting their highest levels in over a year, following a stronger-than-expected U.S. jobs report and decision by OPEC and its allies not to increase supply in April.Brent futures rose $2.10, or 3.2%, to $68.84 a barrel by 11:25 a.m. EST (1625 GMT).
Oil Prices Pare Gains After Earlier Rise on Saudi News
Oil prices traded broadly unchanged on Thursday after an announcement that Saudi Arabia would suspend some oil shipping in the Red Sea had initially sent prices higher.Brent futures had risen 19 cents to $74.12 a barrel by 1305 GMT, extending their…
Oil Struggles to Retain Gains as Trade War Concerns Build
Russian crude output hits 11-month high, almost 11 mln bpd; Saudi Arabia expected to cut its physical crude prices. Oil steadied on Tuesday, after the price posted its biggest one-day fall in almost a year the previous day, although higher Russian output…
Oil Up After Sell-offs and Trump-Kim Meeting Hopes
Crude oil futures rose on Friday after two days of sell-offs amid optimism over a planned meeting between North Korea's Kim Jong Un and U.S. President Donald Trump. Kim also pledged to refrain from further nuclear or missile tests, lifting Asian stock markets and pulling crude oil futures along with them.
Oil Retreats but Set for Fourth Week of Gains
China's weak December oil data weighs; Brent, WTI hit highest since Dec 2014 on Thursday. Oil prices fell on Friday after hitting a three-year high over $70 a barrel the previous day, but remained on track to post a fourth straight week of gains. Brent…
Oil Stabilizes After OPEC Comments
U.S. oil production, refineries reopen after storm Nate as investors raise bullish bets on WTI - CFTC. Oil prices stabilised on Monday after one of the most bearish weeks in months, propped up by OPEC comments signalling the group and other producers…
Oil Slips as Market Focus Looks to Jackson Hole
Dollar up ahead of central bankers' meeting; tropical depression heads towards U.S. oil facilities. Oil prices slipped on Thursday, giving up some recent gains as the dollar strengthened ahead of a meeting of central bankers in Jackson Hole, Wyoming, which could signal changes to monetary policy.
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…
Oil Dips as Rally Encourages Profit-Taking
Oil prices fell on Monday as a rally at the end of last week prompted investors to close positions at a higher price, against a backdrop of signs the global market is starting to rebalance. Benchmark Brent crude futures were down 15 cents at $52.57 a barrel at 1214 GMT…
Oil Slips on Strong Dollar, OPEC and China Weigh
Chinese Demand Falters as OPEC production remains stronger despite promised cuts. Oil prices slipped on Tuesday, extending a heavy sell-off after a surge in the dollar and weighed down by signs of weaker demand in China, the world's second-largest consumer.
Oil Slides From 9-week Highs as Market Looks to OPEC
Oil prices edged down from nine-week highs on Monday, pressured by worries over high production from OPEC and the United States. Global benchmark Brent crude futures were down 67 cents, or 1.28 percent, at $51.75 a barrel at 1344 GMT. They traded as low as $51.56 a barrel earlier in the day. U.S.
Oil Dives on Supply, Production Worries
Oil prices fall 3 percent on signs market still oversupplied; U.S. crude production rose 1 percent last week. Oil prices fell 3 percent on Friday after data showed U.S. production rose last week just as OPEC exports hit a 2017 high, casting doubt over efforts by producers to curb oversupply.
Oil at Two-Week High as U.S. Output Dips
Six-day bull-run is longest since April as U.S. weekly production falls most in nearly one year. Oil prices rose to a two-week high on Thursday, extending a rally into a sixth straight session after a decline in weekly U.S. production eased concerns about deepening oversupply.
Brent Crude Oil Back Above $45
U.S. crude, gasoline stockpiles fall but supply glut weighs on market. Oil edged up from multi-month lows on Thursday, but prices remained under pressure from a supply glut that has persisted despite OPEC-led efforts to balance the market. Brent crude futures were up 40 cents at $45.22 a barrel at 1017 GMT…
Oil Rebounds Slightly After Disappointing OPEC Meeting
OPEC, other producers extend production cut to March 2018; output controls could be extended to 2019. Oil prices edged back up on Friday after a 5 percent fall in the previous session on disappointment that an OPEC-led decision to extend current production curbs did not go deeper.
Oil Rebounds Output Cut Extension Hopes
Reuters poll shows analysts expect extension of output deal, but despite gain, oil set for second week, month of losses. Oil prices rebounded on Friday after dropping to a one-month low the previous day, prompting investors to buy at cheaper levels…
Oil Slips as Investors Fret About Rising US Drilling
Oil prices dipped on Monday, reversing earlier gains as concerns about a pick up in U.S. drilling activity trumped expectations that OPEC will extend output cuts till the end of 2017. "It's a still game of very narrow trading ranges between these mixed drivers…
Oil Flattens as IEA Counters Higher U.S. Output
Weekly data shows U.S. production still rising. Oil traded flat on Thursday after weekly data indicated a continued rise in U.S. production, while an International Energy Agency (IEA) report said the market was close to balance. Benchmark Brent crude futures were down 1 cent at $55.85 a barrel at 0907 GMT.
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.
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.
