Oil Steady, Supported by OPEC Cuts
Record U.S. output, exports offset some of OPEC's cuts.Oil prices were broadly steady on Friday as surging U.S. supply and concerns of a global economic slowdown were offset by falling OPEC output.International Brent crude futures were at $66.39 per barrel at 1231 GMT…
Oil Up On Saudi and OPEC Cuts
Oil prices gained nearly 3 percent on Tuesday, supported by OPEC-led production cuts, which Saudi Arabia said it would surpass by more than half a million barrels per day (bpd), and by U.S. sanctions against Iran and Venezuela.Brent crude futures were up $1.65, or 2.7 percent, at $63.16 a barrel by 1445 GMT.
Oil Climbs as OPEC Output Drop Eases Concerns About Glut
Oil prices rose on Friday after an OPEC report showed its production fell sharply last month, easing some concerns about prolonged oversupply.Brent crude was up 48 cents, or 0.78 percent, at $61.66 a barrel at 1450 GMT. Brent has risen around 2 percent this week, its third straight week of gains.U.S.
Oil Falls After OPEC Delays Output Decision
Oil fell in choppy trading on Thursday after OPEC ended a key meeting having made no decision on crude output, as it prepared to debate the matter with other exporters the next day.The Organisation of the Petroleum Exporting Countries (OPEC) met in…
Oil Up; Traders Cite Crude Build at Cushing
Traders say Genscape reports crude draw at Cushing; prices rally on hopes latest weekly draw was an anomaly.Oil prices strengthened Thursday, turning higher after traders saw an industry report suggesting U.S. crude stockpiles would soon begin to decline…
Oil Fall Again, Rising Supplies Weighs
Trade tensions cap gains as U.S. inventories jump, confounding expectations.Oil prices fell for a third day on Thursday, following a surprise increase in U.S. crude inventories that added to existing concern about the rapid rise in global crude supply.Saudi Arabia…
Rising Supply Dents Oil Gains
Oil prices fell for a third day on Thursday, following a surprise increase in U.S. crude inventories that added to existing concern about the rapid rise in global crude supply.Saudi Arabia, Russia, Kuwait and the United Arab Emirates have increased production…
Oil Falls Below $73 on Rising Supply, Trade Worries
Oil extended losses on Wednesday to fall below $72 a barrel, pressured by an industry report that U.S. stockpiles of crude rose unexpectedly and higher OPEC production, adding to indications of more ample supply.Concern of an imminent escalation in…
Oil Steady as U.S.-Iran Row Balances Trade Worries
Oil prices steadied on Tuesday as tension between the United States and Iran highlighted risks to supply and trade disputes raised the prospect of slower economic growth and weaker energy demand.Brent crude oil was down 10 cents at $72.96 a barrel by 1328 GMT. U.S.
Oil Slips Below $77
Oil slipped below $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, despite support from oil supply disruptions.Top exporter Saudi Arabia told OPEC it raised oil output by almost 500…
Oil Slips, Weighed by Saudi Output, Trade Spat
U.S. crude inventories rise unexpectedly; U.S. implements tariffs on Chinese goods on Friday. Oil slipped below $77 a barrel on Friday, under pressure from higher Saudi production and trade tensions between the United States and China, despite support from oil supply disruptions.
Oil Slips as U.S. Crude Stockpiles Show Surprise Build
U.S. crude stocks up 1.3 mln bbls vs 3.5 mln draw forecast-EIA. Oil fell on Thursday after U.S. government data showed an unexpected build in crude oil stockpiles. U.S. crude futures fell $1.20 to settle at $72.94 a barrel, retreating from Tuesday's 3-1/2-year high of over $75.
Oil Jumps as Market Anticipates U.S. Sanctions on Iran
Oil prices rose strongly on Friday as U.S. sanctions against Iran threatened to remove a substantial volume of crude oil from world markets at a time of rising global demand.Benchmark Brent crude jumped $1.49 to a high of $79.34 a barrel before easing back to around $79.10 by 1350 GMT.U.S.
Oil Responds to U.S. Sanctions on Iran
U.S. sanctions on Iran to remove crude oil from market; oil markets tight on supply losses in Libya, Venezuela. Oil prices climbed on Friday as U.S. sanctions against Iran threatened to remove a substantial volume of crude oil from world markets at a time of rising global demand.
U.S. Pushes Allies to Halt Iran Oil Imports
The United States has told countries to cut off all Iranian oil imports. It is unlikely to offer any exemptions, said a State Department official as the Trump administration ramps up pressure on allies to cease funding to Iran. U.S. President Donald…
Brent Tilts into the Red, but U.S.-China Trade Truce Limits Losses
Brent crude oil declined on Monday, surrendering early gains, though the prospect of an easing in trade tensions between the United States and China helped to stem losses.Brent crude futures eased by 12 cents to $78.39 a barrel by 1352 GMT, having reached a session high of $79.19. U.S.
Oil Rises on Iran Sanctions Talk, PDVSA Output
Price gains built on likely U.S. sanctions against Iran; falling Venezuelan output further tightens markets. Oil rose on Thursday, supported by expectations of renewed U.S. sanctions on Iran, declining output in Venezuela and continuing strong demand.
US Crude Hits Highest Since 2014
Oil prices jumped on Wednesday, hitting their highest in more than three years on Wednesday after Saudi Arabia said it intercepted missiles over Riyadh and U.S. President Donald Trump warned Russia of imminent military action in Syria.Both U.S. crude…
Oil Rebounds on U.S. Inventory Figures, Saudi Comments
U.S. crude inventories rise less than expected - EIA. Oil prices rose on Wednesday, rebounding from earlier losses after U.S. crude stocks rose less than expected and Saudi Energy Minister Khalid al-Falih said major oil producers would prefer tighter markets than to end supply cuts too early. U.S.
Brent at 2015 High, Traders Bet on OPEC Supply Cuts
OPEC working on plan to exit supply cut deal; and Forties pipeline expected to fully restart in early January. Brent oil prices edged up enough on Thursday to close at the highest since the summer of 2015 as OPEC started working on plans for an exit strategy from its deal to cut crude supplies…