Oil prices fell on Friday after a three-day rally ran out of steam due to a stronger dollar, promising to notch up the oil market’s worst-performing quarter since 2015 as investors fret that growing U.S. supplies are undermining OPEC-led cuts. Brent crude futures have made the biggest losses across global asset classes this quarter. In […]
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Oil prices rallied from four-month lows on Thursday but the recovery was cautious with investors concerned that OPEC-led supply cuts were not yet reducing record U.S. crude inventories. Brent crude, the international benchmark for oil, was trading at $51.02 a barrel by 1112 GMT, up 38 cents on the day and rebounding from Wednesday’s slide […]
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Crude prices inched up on Friday after dropping to their lowest in more than three months the session before, pressured by concerns that a global supply glut is proving stubbornly persistent. U.S. West Texas Intermediate crude (WTI) was up 37 cents, or 0.8 percent, at $49.65 a barrel at 0604 GMT. It fell below $50 […]
Read More Oil prices slide 2 percent on Thursday, extending the previous session’s dive that brought prices to the lowest levels this year, as record U.S. crude inventories fed doubts about whether OPEC-led supply cuts would reduce a global glut. U.S. crude prices fell through the $50 a barrel support level, with market participants unwinding a massive […]
Read More Oil prices fell more than 1 percent on Wednesday after the U.S. Department of Energy reported a much larger increase than expected in domestic crude inventories, feeding concerns the supply glut could persist even as OPEC seeks to prop up prices with output curbs. U.S. crude inventories rose by 8.2 million barrels in the last […]
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Oil futures fell in Asian trade on Wednesday after industry data pointed to a potential ninth straight week of inventory builds, renewing concerns about an oversupply of oil despite output curbs by OPEC and non-OPEC members. Brent futures fell 29 cents, or 0.5 percent, to $55.63 as of 0504 GMT after settling down 0.2 percent […]
Read More O il prices were little changed for a third session on Tuesday, with investors searching for direction as concern over rising U.S. shale output offsets production cuts by OPEC and non-OPEC members. Brent crude was down 9 cents, or 0.1 percent, at $55.92 a barrel as of 0745 GMT, with a firmer dollar, unchanged against […]
Read More Oil prices rose on Monday in anticipation of tighter crude supply going into 2017 following the decision by OPEC and other producers to cut output to prop up prices. Brent crude futures, the international benchmark for oil prices, were trading at $55.41 per barrel at 0756 GMT, up 20 cents from their last close. U.S. […]
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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