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. crude was up 3 cents, or 0.05%, at $56.16 a barrel.U.S. crude oil stocks fell by 3.5 million barrels in the week to Aug. 16, data from industry group the American Petroleum Institute (API) showed on Tuesday.
Oil Prices Fall Ahead of U.S. Crude Stocks Data
Oil prices fell on Wednesday after three days of gains as markets awaited key U.S. inventory data expected to show a build in U.S. crude stockpiles.Brent crude was down 65 cents at $80.76 a barrel by 1325 GMT, after gaining $1.15 over the previous three sessions. The benchmark, which hit a two-week low last week as equity markets dropped, is trading around $5 below a four-year high of $86.74 reached on Oct. 3.U.S. light crude oil was 80 cents lower at $71.12.Official oil inventory data from the U.S.
Oil Rises on Iran Sanctions, and Dip in U.S. Fuel Inventories
Global oil markets to tighten towards end of 2018 - IEA.Oil prices rose on Thursday, extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U.S. crude inventories.Benchmark Brent crude oil was up 60 cents a barrel at $77.74 by 1320 GMT. U.S. light crude was 40 cents higher at $69.91.Brent has risen by almost 10 percent over the past two weeks on widespread perceptions that the global oil market is tightening and could run short in the next few months as U.S.
Oil Falls on Weaker Economic Outlook, U.S. Stocks Rise
A weaker global economic growth outlook and a report of rising U.S. crude inventories weighed on oil prices on Wednesday, even as U.S. sanctions threatened to curb Iranian crude supplies.Benchmark Brent crude oil was down 60 cents a barrel at $71.86 by 1325 GMT. U.S. light crude fell $1.02 a barrel to a low of $66.02, before recovering slightly to around $66.30, down 74 cents."Oil bears are taking their turn in the driving seat," said Stephen Brennock…
Inflation Buiilds, Oil Slides
Oil fell for a third day on Wednesday, dropping nearly 1 percent on concerns about rising U.S. production and another drop in financial markets after U.S. consumer prices rose more than expected. Brent crude futures fell 55 cents to $62.17 a barrel by 1350 GMT. The price has lost 11 percent since hitting a high above $71 in January and has now wiped out all its 2018 gains. U.S. West Texas Intermediate crude futures dropped 77 cents to $58.42 a barrel. U.S.
Oil Slips on Dollar's Strength but OPEC Provides Balance
OPEC secretary general optimistic on output cuts. Global oil prices slipped on Wednesday as the U.S. dollar, in which payments for crude are made, rose but they traded broadly at multi-week highs after OPEC signalled optimism over its deal with other producers to curb output. The U.S. West Texas Intermediate April crude contract , the new front-month future, was down 37 cents, or 0.7 percent, at $53.96 a barrel at 1310 GMT. Brent crude was down 35 cents, or 0.6 percent, at $56.83, having touched its highest since Feb.
Oil Nudges Down Ahead of U.S. Data; OPEC Jostling Weighs
Oil prices nudged down in late European trade on Tuesday, retreating from positive territory as traders digested a flurry of comments from OPEC states about the prospects of an output cut and ahead of U.S. crude inventory data. Brent crude oil futures were down 20 cents at $51.26 a barrel by 1400 GMT. U.S. West Texas Intermediate (WTI) crude futures fell by 4 cents to $50.48 a barrel. Analysts said that oil would trade in a range ahead of crude oil inventory data from the American Petroleum Institute…
Oil steadies as Saudi sees OPEC "common position"
Saudi minister says producers moving to "common position." U.S. crude oil stocks rise sharply in latest week - EIA. Oil prices steadied on Thursday after Saudi Arabia said OPEC was moving towards a common position on oil production that some investors think could support prices. Brent crude futures for November were down 5 cents at $46.84 a barrel by 1055 GMT after settling $1.84 lower at Wednesday's close. U.S. crude futures were unchanged at $44.70 a barrel, after falling $1.65 in the previous session.
Oil Holds Steady as Market Focuses on U.S. Gasoline Drawdown
Oil prices held steady on Wednesday as investors focused on a large gasoline drawdown in U.S. government oil inventory data, ignoring a surprise build in crude stockpiles. The front-month in U.S. crude's West Texas Intermediate (WTI) futures were up 5 cents at $48.36 a barrel by 10:38 a.m. EDT (1438 GMT). Brent crude futures' front-month was up 3 cents at $49.31 a barrel. (Reporting By Barani Krishnan)
Oil Steadies but Outlook Uncertain
Vitol sees oil struggling to break above $60 by end-2016. Oil prices steadied on Tuesday after a week of falls, but the outlook was uncertain with the head of the world's biggest independent oil trader saying the market would struggle to recover much ground over the next year. Brent crude dropped $1.85 a barrel, or 3.7 percent, on Monday and was down 10 cents at $48.51 by 1200 GMT. U.S. crude was up 10 cents at $45.99 after closing down $1.37, or 3 percent. The U.S. front futures contract was due to expire later on Tuesday.
Oil Above $49 on Syria, Weather Risks
Russian, US Syria air strikes introduce Brent risk premium; Hurricane Joaquin boosts U.S. crude. Oil rose above $49 a barrel on Thursday as an emerging risk premium over the situation in Syria countered further signs of an economic slowdown in Asia and rising U.S. inventories. Russia launched air strikes in Syria on Wednesday in its biggest Middle East intervention in decades. The attacks raised the spectre of Washington and Moscow running air strikes in the same region, but without coordination.
Oil Falls for Sixth Day, Glut Bites
OPEC oversupply 3 million bpd in Q2 - Reuters survey. Oil prices fell for a sixth day on Wednesday, marking their longest string of losses in a year, as worsening global oversupply offset the potential lift from a weaker dollar and an expected drop in U.S. crude stocks. A Reuters survey on Tuesday showed members of the Organization of the Petroleum Exporting Countries produced around 3 million barrels per day (bpd) of oil more than daily demand in the second quarter, compared with around 2 million bpd in the first three months of the year.
Brent Slips on Stronger Dollar, Ample Supply
Dollar index nears one-week high; High Saudi production, exports feed well-supplied market. U.S. crude may be supported by summer driving season. Brent crude oil fell below $66 a barrel on Tuesday as the dollar strengthened and on evidence of ample supplies of Middle Eastern oil despite wars in northern Iraq, Syria and Yemen. economies. Crude rallied on Monday on worries that Middle Eastern oil supplies could be disrupted by escalating fighting in the region, but data suggested production from the Gulf was increasing.
Oil Above $59 after Libya Field Shuts
Libya's Sarir oilfield shuts after power cut. Brent crude oil reversed early losses to trade back above $59 a barrel on Tuesday as Libya's largest oilfield stopped production, and as traders awaited U.S. oil inventory data to see whether it would show another large increase. The Sarir oilfield in Libya shut because of a power cut, in a further blow to exports from the OPEC member. Brent futures for April were up 55 cents at $59.45 a barrel by 1227 GMT, recovering from an earlier low of $58.10. U.S. crude was up 21 cents at $49.66.
Oil Below $61 on Glut, Strong Dollar
Brent oil fell by more than $1 towards $60 per barrel on Wednesday, weighed down by strong supply in the United States and a rising dollar. Brent for February delivery dropped $1.04 to $60.65 by 1132 GMT after gaining $1.58 on Tuesday. U.S. crude fell $1.02 to $56.12 a barrel, after closing $1.86 higher in the previous session. Trade was thin as many in the European and U.S. market were off for the Christmas break. Data from the American Petroleum Institute (API), an industry group, showed U.S.
Oil Steady Above $79 on OPEC Hopes
Venezuela, Russia discuss actions to defend oil prices. Brent crude oil steadied on Tuesday, holding above $79 a barrel after hitting a four-year low last week, as speculation intensified that OPEC could cut output at its meeting on Nov. 27 in Vienna. Talk about OPEC's response to a 30-percent drop in global oil prices since late-June intensified this week after calls from Venezuela to increase cooperation within the cartel as well as with non-members, including top producer Russia.
Brent Nearing Four-Year Low of $81
OPEC could cut output by 500,000 bpd at November meeting. U.S. crude stocks rose by 800,000 barrels. Brent crude slipped near $81 a barrel on Wednesday, hovering just above a four-year low as prices are pressured by the growing oil glut created by the U.S. shale boom and the restart of Libya's largest operational oilfield. With oil prices down 30 percent since June, delegates in the Organization of the Petroleum Exporting Countries (OPEC) are starting to suggest they may push for an informal output cut of around 500…
Oil Slips Towards $96 as Libyan Output Returns
Oil fell towards $96 a barrel on Wednesday as rising supply from Africa and Iraq offset mounting tensions in the Middle East and better-than-expected data in China. Weak European economic data and a rise in oil exports from Iraq, Libya and Nigeria have weakened the oil price, which is down around 14 percent this quarter, the biggest quarterly drop since the second quarter of 2012. Brent for November delivery fell 55 cents to $96.30 a barrel by 1258 GMT.
Brent Crude Slips Towards US$102 After Overnight Jump
Brent crude slipped towards $102 a barrel on Thursday, reversing some of the sharp overnight gains, as U.S. industry data showed fuel stocks rose last week and raised fresh doubts about the strength of demand in the world's biggest oil consumer. * U.S. * Oil prices spiked Wednesday on upbeat U.S. * Coming up: U.S. Oil futures on both sides of the Atlantic have seen wide swings this week, as the U.S. dollar has gyrated. Brent hit a 16-month low on Tuesday…
US Crude Rises; Brent Slips
U.S. crude rose on Tuesday, as supportive U.S. economic data overshadowed concerns about slowed growth in other oil consuming economies and ample global oil supplies. Brent crude futures settled lower and both U.S. and Brent finished off session peaks. U.S. crude drew support from government data showing durable goods orders jumped 22.6 percent in July, the biggest monthly gain on record. Also, the Conference Board, an industry group, reported that consumer confidence rose more than expected in August to its highest level since October 2007.
