Oil prices were little changed on Tuesday as the impact from expectations of an extended OPEC-led production cut was cancelled out by rising output in the United States. Brent crude futures, the international benchmark for oil prices, were at $62.20 per barrel at 0301 GMT, 8 cents above their last close. U.S. West Texas Intermediate […]
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Oil prices hit their highest levels since July 2015 early on Monday as markets tightened, while Saudi Arabia’s crown prince cemented his power over the weekend through an anti-corruption crackdown that included high profile arrests. Brent futures, the international benchmark for oil prices, hit $62.44 per barrel early on Monday, their highest level since July […]
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Oil markets rose on Friday, supported by OPEC-led supply cuts which are tightening the market as well as by strong demand, but analysts cautioned that the cuts would need to be extended to counter rising U.S. output. Brent futures, the international benchmark for oil prices, were at $60.86 per barrel at 0524 GMT, up 24 […]
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Oil prices held steady on Thursday as U.S. crude inventories fell despite a rise in production, while outside the United States an OPEC-led supply cut continued to tighten the market. Brent futures, the international benchmark for oil prices, were at $60.52 per barrel at 0540 GMT, up 3 cents from their last close. Brent has […]
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Oil prices rose to near recent highs on Wednesday as data showed OPEC has significantly improved compliance with its pledged supply cuts and Russia is also seen keeping to the deal. Brent futures, the international benchmark for oil prices, were at $61.32 per barrel at 0759 GMT, up 38 cents, or 0.6 percent, since their […]
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BP is working on an assumption oil prices will average $50 to $55 a barrel next year as global inventories gradually return to normal levels, Chief Financial Officer Brian Gilvary said on Tuesday. An agreement reached between OPEC and other major oil producing nations to limit output in order to reduce a glut is having […]
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Oil prices eased on Tuesday after a week of gains as the prospect of increasing U.S. exports dampened bullish sentiment that has driven Brent to more than two-year highs above $60 per barrel. Iraq’s move to increase oil exports from its southern ports by 220,000 barrels per day (bpd) to 3.45 million bpd to make […]
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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. […]
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Oil prices rose more 1 percent on Friday on support among the world’s top producers for extending a deal to cut output and as the dollar retreated from three-month peaks. Brent rose 59 cents to $58.89 a barrel by 10:51 a.m. ET (1451 GMT), after rising to a session high of $60.08, the highest since […]
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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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Oil steadied on Wednesday near a four-week high after top exporter Saudi Arabia said it was determined to end a supply glut that has weighed on the market for three years. Brent crude futures were up 6 cents at $58.39 a barrel by 1337 GMT, having closed up 96 cents or 1.7 percent on Tuesday. […]
Read More Oil eased on Wednesday, edging lower for a second day, although an unexpected drop in U.S. crude inventories helped keep the price within sight of this week’s 26-month highs. A rise in the dollar to one-month highs against the euro following a signal the previous day by the head of the U.S. Federal Reserve that […]
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