Oil prices inched lower on Thursday, pressured by an unexpected increase in U.S. crude inventories and as oil output and exports from the United States rose last week. Brent crude for December delivery was down 4 cents at $58.40 a barrel by 0523 GMT. The contract gained only 0.2 percent on Wednesday, supported by comments […]
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Brent oil prices gained slightly on Tuesday, stabilising near $50 a barrel on tentative signs that a persistent rise in U.S. crude production may be slowing. The international benchmark gained 15 cents to $49.83 per barrel by 1409 GMT. U.S. West Texas Intermediate (WTI) crude futures were trading up 18 cents at $47.25 a barrel. […]
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Oil prices fell slightly at the weekend, remaining near the previous day’s highs, on the prospect of talks by exporters about ways to prop up a market grappling with a supply overhang. Brent crude futures were down 19 cents a barrel higher at $45.84 per barrel by 1000 GMT (0600 ET), from a three-week high […]
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The global oil benchmark, Brent crude, extended its gains on Tuesday, trading above the $50 per barrel mark for the first time since October last year. In a report by Punchng, The further rise in Brent comes as expectations the United States’ crude draws underpinned a market already worried about potential supply shortages from attacks […]
Read More The price of oil has gone above $50 a barrel for the first time in 2016 as supply disruptions and increased global demand continue to fuel a recovery, BBC report. Benchmark Brent crude hit $50.22 per barrel at one stage on Thursday, its highest level since early November. The rise followed US data showing that oil […]
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GLOBAL oil prices surged as much as 12 percent on Friday after a report once again suggested OPEC might finally agree to cut production to reduce the world glut, while a bounce in stock markets fed appetite for risk. Despite the strong daily gain, oil prices were poised to end the week down as much […]
Read More Oil is crashing again and has just dipped back below $30 per barrel, According to Business Insider. Why? — because chatter surrounding a possible OPEC production cut is starting to die down and therefore people are returning to reality where that means there will be a massive oversupply in the market. On Tuesday afternoon, both […]
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