Oil edged up on Tuesday, supported by a recovery in the equities market and on a technical bounce for crude after the biggest daily percentage drop in almost a year, but Brent futures stayed well below $70 a barrel. Brent crude futures gained 48 cents, or 0.7 percent, to settle at $68.12 a barrel. This […]
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Oil hovered near a three-year high of $70 a barrel on Monday on signs that production cuts by OPEC and Russia are tightening supplies, but analysts warned of “red flags” due to surging U.S. production. International benchmark Brent crude futures were trading 3 cents lower at $69.84 by 1522 GMT, having risen above $70 earlier […]
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Oil prices have risen above $70 per barrel for the first time since 2014 as investors bet supply cuts led by OPEC will dominate the market this year. But some traders are sounding a warning – the world’s biggest crude consuming region, Asia, is showing signs of an impending downward correction. Prices for Brent crude […]
Read More Oil prices dipped on Thursday as soaring U.S. output, fast approaching 10 million barrels per day (bpd), outweighed a drop in American crude inventories. U.S. West Texas Intermediate (WTI) crude futures were at $58.02 a barrel at 0540 GMT, down 7 cents from their last settlement. Brent crude futures, international benchmark for oil prices, were […]
Read More Brent futures for delivery in the first months of next year have given up much of their premium since the announcement on Monday that the Forties pipeline system would be shut for emergency repairs. The Forties pipeline system, which carries around 450,000 barrels per day and handles nearly a quarter of North Sea output, is […]
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Oil prices fell sharply on Tuesday, as traders took profits after prices surged early to a two-year high on an unplanned closure of the pipeline that carries the largest North Sea crude oil grade. Closure of the pipeline crimped the flow of global benchmark Brent crude, but traders said Brent came under pressure when its […]
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Brent oil held above $60 a barrel on Monday, near its highest since mid-2015, on expectations OPEC-led production cuts would be extended beyond March although rising Iraqi exports put a lid on prices. Benchmark Brent crude futures were 7 cents higher at $60.51 per barrel at 1050 GMT, close to their highest since July 2015. […]
Read More Brent oil prices rose on Wednesday to sit not far off 26-month highs hit in the previous session amid threats from Turkey that it could cut crude exports from Iraq’s Kurdistan region. Brent crude for November delivery was up 21 cents, or 0.4 percent, at $58.65 a barrel by 0240 GMT. It settled down 1 […]
Read More Brent oil extended gains into an eighth straight session on Wednesday, having recovered nearly all last month’s losses, after Saudi Arabia was said to be pushing its fellow OPEC members and some rivals to prolong supply cuts beyond June. Brent crude futures were up 23 cents by 1130 GMT at $56.46 a barrel, having touched […]
Read More Oil prices surged to their highest since mid 2015 and U.S. Treasury yields hit a more than two-year peak on Monday after the world’s top crude producers agreed to cut output. Coming at the start of a week when the United States is expected to raise interest rates for the only the second time since […]
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