Oil Price at Highest Since March
Oil rose on Thursday to its highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions on people's movements imposed due to the coronavirus crisis.Crude prices have slumped in 2020, with global benchmark…
U.S. Oil Futures Plumb Historic Sub-Zero Lows, Brent Plunges
U.S. oil futures continued to trade in negative territory on Tuesday, after closing down nearly $40 on Monday in their first-ever sub-zero dive, as concerns grew the United States will run out of storage for a glut caused by the coronavirus lockdown.Global benchmark Brent crude also…
Oil Jumps After US Kills Iran's Soleimani
Oil prices jumped more than $3 on Friday after a U.S. air strike in Baghdad ordered by President Donald Trump killed the head of Iran's elite Quds Force, sparking concerns for an escalation of regional tensions and disruption to crude supplies.Brent crude rose to a peak of $69.50 a barrel…
Brent Oil Prices Rise Above $60
Brent crude oil futures rose above $60 a barrel on Wednesday after industry data showed a larger-than-expected drop in U.S. crude inventories, but lingering worries about a possible global recession capped gains.Brent crude had gained 26 cents, or 0.43%, to $60.29 a barrel by 0900 GMT, after settling 0.5% higher on Tuesday, while U.S.
Oil Prices Fall After Trump's Tariff Threat Against China
Oil prices fell on Monday after U.S. President Donald Trump said he would sharply raise tariffs on Chinese goods this week, risking the derailment of trade talks between the world's two biggest economies.U.S. West Texas Intermediate (WTI) crude futures were at $61.68 per barrel at 1338 GMT, down 26 cents.
Oil Hits 2019 High on U.S. Plan to Tighten Squeeze on Iran
Oil prices jumped more than 2 percent on Monday to a near six-month high, on growing concern about tight global supplies after the United States announced a further clampdown on Iranian oil exports.Washington said it will eliminate in May all waivers allowing eight economies to buy Iranian oil without facing U.S.
Oil Rises 2 Percent
Oil rose nearly 2 percent on Tuesday as attention centered on geopolitical factors tightening supplies that are leading to falling exports from Venezuela and declining U.S. inventories.Despite concerns about weaker demand due to an economic slowdown, oil prices have risen more than 25 percent this year…
Oil Below 2019 highs on OPEC Cuts
U.S.-China trade talks this week also in focus.Oil was close to its 2019 high of almost $67 a barrel on Tuesday, supported by OPEC-led supply cuts although gains were capped by concerns about slowing economic growth that could hit demand.The supply curbs led by the Organization of…
Oil Rises Above $57 on China-U.S. Trade Talks, OPEC Cuts
Oil rose to above $57 a barrel on Friday after China said it would hold trade talks with the United States and a survey showed China's services sector expanded in December, while signs of lower crude supply also lent support.The Organization of the Petroleum Exporting Countries cut crude output in December…
Brent Crude Rises but Set for First Yearly Drop Since 2015
Oil prices rose more than 2 percent on the final day of the year, mirroring gains in stock markets, but were on track for their first annual decline in three years as concerns of a persistent supply glut lingered.Hints of progress on a possible U.S.-China trade deal, with U.S. President…
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.
Oil Surrenders Some of its OPEC Gains as Stock Markets Soften
Oil eased on Monday, echoing the weakness in global stock markets and erasing some of the gains made last week when producer group OPEC and other key exporters agreed to cut their crude output from January to prevent oversupply.Brent crude oil futures fell 90 cents on the day to $60.77 a barrel by 1510 GMT, while U.S.
Oil Bounces Above $63 After Slide
Oil bounced above $63 a barrel on Wednesday to claw back some of the previous day's 6 percent plunge, lifted by a report of an unexpected decline in U.S. crude inventories.The American Petroleum Institute (API) said on Tuesday that U.S. crude stocks last week fell by 1.5 million barrels…
Oil Prices Fall 2% on Rising Supply and Trade War
Oil prices fell more than 2 percent on Tuesday on signs of rising supply and concerns that global economic activity and fuel demand would be hit by a deepening U.S.-China trade dispute.Benchmark Brent crude oil fell by $2.25 a barrel to a low of $75.09 before recovering slightly to around $75.50, down $1.84, by 1345 GMT. U.S.
Oil Falls Below $79 as Rising U.S. Stockpiles Weigh
Oil fell more than $1 a barrel to below $79 on Thursday as the fourth weekly increase in U.S. crude inventories suggested ample supply, while Saudi-U.S. tension and falling Iranian exports lent support.U.S. crude inventories rose 6.5 million barrels last week, the Energy Information Administration said on Wednesday…
Oil Holds Just Below $80, Supported by Supply Concerns
Brent oil prices eased modestly on Wednesday but stayed near their highest level this year, supported by concerns that producers may fail to cover a supply shortfall once U.S. sanctions on Iran come into force in November.Brent, the global oil benchmark, slipped 18 cents to $78.85 a barrel by 1336 GMT…
Oil Approaches $80 a Barrel
The oil price rallied towards its highest level this year on Wednesday, after a drop in U.S. crude inventories and as the prospect of the loss of Iranian supply added to concerns over the delicate balance between consumption and production.Brent crude futures were last up 41 cents on the day at $79.47 a barrel by 1323 GMT…
Oil Prices Jump as Gulf of Mexico Rigs Evacuated
Oil prices rose sharply on Tuesday after the evacuation of two Gulf of Mexico oil platforms in preparation for a hurricane.U.S. light crude rose $1.60 a barrel from Friday's close to a peak of $71.40, its highest since mid-July, before easing slightly to around $71.15 by 1140 GMT. U.S.
Brent Oil Stabilizes Near $72 as Economic Concerns Weigh
Brent oil stabilized near $72 per barrel on Monday after several weeks of decline, weighed down by concerns over slowing global economic growth but supported by an expected fall in supply from Iran due to U.S. sanctions.Brent crude futures, a benchmark for international oil prices, were at $72.08 per barrel at 1336 GMT, up 25 cents.U.S.
Oil Prices Fall On U.S. Stock Rise, Higher Supply
Oil benchmark Brent crude hit a three-month low on Wednesday after government data showed a rise in U.S. crude inventories and oil production, which highlighted increasing global supply and concerns over weak demand.Brent crude futures fell 33 cents to $71.83 a barrel by 10:55 a.m. EDT (1455 GMT).
