Oil up 3% on Hopes of OPEC Cut
Oil prices jumped more than 3% on Monday, reversing an earlier fall to multi-year lows as hopes of a deeper cut in output by OPEC and stimulus from central banks countered worries about damage to demand from the coronavirus outbreak.Brent crude was at $51.91 a barrel…
Oil Falls as Refined Products' Stocks Rise
Oil prices fell on Friday as a rise in stocks of refined petroleum products offset a sharp decline in U.S. crude inventories to the lowest level since 2015.Brent crude futures were down 34 cents at $76.16 a barrel by 1346 GMT. U.S. West Texas…
Oil Higher on Lower Iran Exports, Rising U.S. Supply
Oil prices rose on Wednesday, supported by news of a fall in Iranian crude supplies as U.S. sanctions deter buyers, but gains were limited by evidence of a rise in U.S. inventories.Benchmark Brent crude oil was up 45 cents at $76.40 a barrel by 1225 GMT. U.S.
Oil Prices Rise After OPEC Extends Output Curbs
Oil edged up on Friday after OPEC and other major producers agreed to continue reining in output until the end of next year to try to reduce the global oil glut and boost prices. The Organization of the Petroleum Exporting Countries and some…
Oil Steady as U.S. Rig count, Middle East Issues Support
U.S. oil rig count drops to lowest since June as Iraq, Saudi Arabia hail OPEC cooperation. Oil prices held on to last week's gains on Monday, supported by supply disruptions in Iraq and a drop in U.S. drilling. But analysts said the reduction…
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…
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 Dips on U.S. Output, OPEC Tension
Oil markets in balance, but inventories still high - EIA. Oil prices dipped on Wednesday on renewed concerns about the efficacy of OPEC-led production cuts due to rising tensions within the export group over Qatar and growing U.S. output. Brent crude prices were at $49.72 per barrel at 1135 GMT…
Oil Slips as US Drilling Recovery Weakens Deal to Cut Output
Oil prices fell on Monday as news of another weekly increase in U.S. drilling activity spread concern over rising output just as many of the world's oil producers are trying to comply with a deal to pump less to try to prop up prices. The number of active U.S.
Oil prices Up 2% ahead of producers' Meeting
Oil prices rose more than 2 percent on Friday on expectations that this weekend's meeting of the world's top oil producers would demonstrate compliance to a global output cut deal, but rising U.S. drilling activity limited gains. Members of…
Oil Rises Again Ahead of OPEC Meeting
Producers to establish compliance mechanism at meeting - OPEC. Oil prices edged up for a second day on Friday on expectations that a weekend meeting of the world's top oil producers would demonstrate compliance to a global output cut deal, but a larger than expected rise in weekly U.S.
Oil Prices Under Pressure on Output Cut Doubts
Oil prices were under pressure on Monday due to doubts that large oil producers will reduce production as promised and on expectations that U.S. production would increase again this year. Benchmark Brent crude oil was up 8 cents a barrel at…
Oil Rises on OPEC Cut, China's Demand Forecast
Saudi energy minister sees oil market tighter in 2-3 years; other key OPEC members begin cutting oil production. Oil prices rose on Thursday, supported by reports that key members of OPEC were starting to cut production as promised and by forecasts of strong demand growth in China.
Oil Down on China Data, Uncertain OPEC Action
China posts weakest manufacturing data since 2012; net long positions in Brent rise most in four years - ICE. Oil fell nearly four percent on Monday as weak economic data from China, the world's largest energy consumer, weighed on prices and…
Oil Up on Tighter U.S. Supplies
U.S. crude stock draw, lower output outlook support market. Oil prices rose on Tuesday after evidence of tightening supplies in the United States, the world's biggest oil consumer, outweighed concerns over the health of the Chinese economy.
Oil Falls on Dollar, Yemen Talks, Libya Output
Oil prices fell on Monday as the Greek debt crisis boosted the dollar, making fuel more expensive to holders of other currencies, and as UN talks offered a chance for peace in Yemen where crude exporter Saudi Arabia is involved in a civil war.
Oil Slips on Possible Iran Deal, Strong Dollar
An Iran nuclear deal could bring new oil supply; more price falls seen as U.S. stocks are sold off. Oil prices fell on Monday as officials from Iran and six world powers discussed a possible deal over Tehran's nuclear programme that could bring…
