Oil prices continue to fall on the prospect of increased OPEC+ supplies
The oil prices continued to fall on Monday as investors weighed higher OPEC+ output in October against a sharp decline in Libyan production amid sluggish demands in China and the U.S. Brent crude futures dropped 57 cents or 0.7% to $76.36 per barrel at 0108 GMT, while U.S. West Texas Intermediate Crude fell 50 cents or 0.7% to $73.05 per barrel.
Coronavirus Leaves China-bound Tankers Stranded
The coronavirus's effect on energy markets is worsening, as the sharp fall in demand in China, the world's largest importer of crude, is stranding oil cargoes off the country's coast and prompting shippers to seek out other Asian destinations.More than 1,360 people have died from the coronavirus in China…
Oil Market Shrugs Off Libya Crisis
Oil prices fell more than 1% on Tuesday on expectations that a well-supplied market would be able to absorb disruptions that have cut Libya's crude production to a trickle.Brent crude was down 97 cents at $64.23 a barrel by 1258 GMT, having risen to its highest in more than a week on Monday. U.S.
Oil on Track for Biggest Yearly Rise Since 2016
Oil fell on the last trading day of the decade on Tuesday but was still on track for monthly and annual gains, supported by a thaw in the prolonged U.S.-China trade row and Middle East unrest.Brent crude was down 74 cents at $65.93 a barrel by 1434 GMT. U.S. West Texas Intermediate (WTI) crude fell…
Oil Prices Set for Biggest Yearly Rise Since 2016
Oil rose on the last trading day of the decade on Tuesday and was on track for monthly and annual gains, supported by a thaw in the prolonged U.S.-China trade row and Middle East unrest.Brent crude was up 11 cents at $66.78 a barrel by 1143 GMT. U.S. West Texas Intermediate (WTI) crude rose 6 cents…
Oil slumps 7% as More Tariffs Loom
Oil prices plummeted more than 7% on Thursday, with the U.S. benchmark posting its worst day in more than four years, after President Donald Trump said he would impose additional tariffs Chinese imports starting Sept. 1.The drop in Brent crude was the steepest in more than three years, undoing a fragile oil rally built on steady drawdowns in U.S.
Lower oil prices start to rebalance the market
Lower oil prices are starting to rebalance the oil market by slowing the rise in U.S. crude output and encouraging Saudi Arabia and its allies to extend production cuts through the end of 2019.U.S. crude production rose 241,000 barrels per day (bpd) to 11.905 million bpd in March from February, according to the U.S.
Oil Dips on U.S. Manufacturing Data
Oil prices reversed course on Friday, falling 2 percent as bearish U.S. manufacturing data stoked concerns over global energy demand growth.The ISM manufacturing activity index in February sank to the lowest since November 2016, and was below expectations.U.S. West Texas Intermediate futures fell $1.11 to $56.11 a barrel by 11:15 a.m. EST (1615 GMT).
Oil Falls Towards $53 on Economic Worries, Surging Supply
Oil fell towards $53 a barrel on Wednesday, under pressure from rising output in major OPEC and non-OPEC producers and concerns about an economic slowdown that could weaken demand.Russian production hit a post-Soviet record in 2018, figures showed on Wednesday. Other data showed U.S. output reached…
As OPEC Argues, Oil Heads for Third Week of Gains
Iran says it won't agree on output restraint; strong Middle East output as China demand seems to slow. Oil prices headed for their third week of gains on Thursday, holding steady ahead of an OPEC meeting that analysts said was not expected to result in restrictions on crude output. The Organization…
2016 Thermal Coal Markets Sluggish on Weak Demand
Physical coal prices loiter around $50 per tonne on mild winter. Thermal coal prices started the new year warily with physical cargo values around $50 per tonne and futures testing $40 a tonne for the first time since 2003, as last year's commodity rout spills into 2016. Physical coal cargoes for…
Oil Up as Market Ponders Iran Variables
Oil prices edged up on Monday after a breakdown in diplomatic ties between Saudi Arabia and Iran that some speculated could result in supply restrictions, although gains were tempered by data showing some of Asia's largest economies are struggling. Saudi Arabia, the world's biggest oil exporter,…
Global Coal Benchmarks Below 2009 Levels
Thermal coal prices down 75 pct since 2008, 60 pct since 2011. Three leading global thermal coal price benchmarks have fallen below levels last seen during the global financial crisis of 2008-2009, knocked by a sharp slowdown in demand, especially in Asia, and with mining output remaining stubbornly high.
Oil at Six-Month Low as OPEC Ramps Up
Brent hits lowest since late January as OPEC oil output hits new high in July. Oil hit six-month lows on Monday, knocked by fresh evidence of growing oversupply and data highlighting slowing demand in China, leaving crude prices on course for their weakest third-quarter performance since the financial crisis in 2008.
China Stimulus Won't Boost Commodity Imports
Another anemic reading on China's factory sector will no doubt spark increased expectations of monetary and fiscal stimulus, along with hopes for improved commodity demand and prices. But the problem with this scenario is that there is little correlation between China's Purchasing Managers' Index (PMI) and the level of commodity imports.
Brent Crude Slips Below US$97
Brent crude fell for a third day on Wednesday, slipping further below $97 a barrel as inflated supplies and weak economic data from Europe outweighed rising geopolitical tensions in the Middle East. * U.S. The European economic data and a rise in oil exports from Iraq and Nigeria overshadowed a boost…
Brent Pulls Away from 16-month Low
Brent crude rose towards $101 a barrel on Wednesday, pulling away from a 16-month low hit in the previous session, supported by encouraging U.S. manufacturing data. * U.S. day before on a stronger dollar and the prospect of slowing oil demand growth in China and Europe. U.S. manufacturing activity…
