New York (CNN Business)Oil prices suffered an historic collapse overnight after Saudi Arabia shocked the market by launching a price war against onetime ally Russia. US oil prices crashed as much as 34% to a four-year low of $27.34 a barrel as traders brace for Saudi Arabia to flood...
Two highly bearish events have hit the oil market and oil prices are dropping heavily to currently 4 year-low. OPEC and non-OPEC oil producers failed to agree on an extension as well as further oil production cuts on Friday. This means that when the current OPEC+...
Investing.com - Oil prices fell on Thursday in Asia as reports showed a surprise build in U.S. crude inventories last week. U.S. Crude Oil WTI Futures were down 0.6% to $61.03 by 1:18 AM ET (05:18 GMT). International Brent Oil Futures dropped 0.7% to $70.48. Crude prices fell as much as...
With oil production plunging in Venezuela and Iran, tension in the Middle East at its highest point in years, and the threat of further outages in Libya, why are oil prices not trading higher? Even price volatility has been rather low, a surprising feature of a...
NEW YORK (Reuters) - Global equity markets slid on Wednesday as investors sought safety in bonds, the Japanese yen and Swiss franc amid renewed worries over the U.S.-China trade standoff after reports the United States has another Chinese tech firm in its sights. Relief over Washington’s...
SYDNEY (Reuters) - Asian shares broke support and caved to a four-month low on Thursday, as concerns grew that the Sino-U.S. trade conflict was fast morphing into a prolonged technology cold war between the world's two largest economies. In early European trading, futures for the pan-region Euro...
Oil prices have come full circle from a historic implosion 3½ years ago sparked by OPEC's decision on Thanksgiving Day to take a hands-off approach to a global supply glut. Brent crude, the international benchmark for oil prices, ended Monday's session at $78.23 barrel, the highest...
Crude oil slipped toward $30 per barrel to a near 12-year low on Tuesday as heavy oversupply showed no sign of easing, while analysts scrambled to cut their price forecasts and traders bet on further declines. Prices are down around 16 percent since the start of...
A glut of crude may keep oil prices low for the next 15 years, according to Goldman Sachs Group Inc. There’s less than a 50 percent chance that prices will drop to $20 a barrel, most likely when refineries shut in October or March for maintenance,...
Oil prices fell on Monday after closing the previous session at their lowest levels since March on renewed oversupply concerns from the United States and Iraq, although a weaker dollar helped to limit deeper losses. Investors are looking to the U.S. Federal Reserve for direction this...
