Oil rose further above $65 a barrel on Thursday, gaining for a second day, supported by expectations that a global supply glut is starting to ease and by fighting in Iraq. The U.S. government's supply report on Wednesday showed crude inventories declined for a third week....
Crude oil prices fell on Tuesday as slow economic growth and high supplies meant that markets remain oversupplied, although U.S. prices received some support from rising demand ahead of the summer driving season. Brent futures LCOc1 were down 60 cents at $65.67 a barrel by 2.12...
Investing.com - Crude futures fell on Friday but ended higher for the week boosted by the weaker dollar as concerns over whether the recent rally in prices is running out of momentum persisted. Crude futures for June delivery settled down 0.32% at $60.54 a barrel on...
Oil futures pulled back on Thursday as ample global supply weighed on prices while Brent's front-month June contract headed to expiration. Trading was choppy as market participants tried to square bullish factors, including recent drops in U.S. inventories, spot demand for crude in Asia and Middle...
OPEC warns against cost speculation Crude oil prices have continued to be on an upward swing in the last few days, signalling hope of better economic fortunes for Nigeria and other Organisation of Petroleum Exporting Countries (OPEC). Brent crude futures rose towards $66 yesterday, which is far...
As the oil industry tightens its belt after the worst price slump in a generation, the state-owned giants of the Middle East are taking the opposite tack. Saudi Arabian Oil Co., Abu Dhabi National Oil Co. and Kuwait Petroleum Corp. are using a record number of...
Brent crude oil steadied above $66 a barrel on Tuesday, just below its 2015 high, after protesters shut down the eastern Libyan oil port of Zueitina, hampering exports. Zueitina was one of the few Libyan ports still exporting oil as many others have closed due to...
Oil futures closed higher Tuesday, but surrendered most of their gains from earlier in the session, ahead of a report that’s expected to show another increase in crude supplies. Meanwhile, news that Iran seized a cargo ship traveling through a major shipping channel raised concern about...
As oil companies grapple with the consequences of the plunge in the value of crude over the past nine months, some are coming to a paradoxical conclusion: they may be better off when prices are low than when they are high. This response to a 45...
U.S. oil futures settled lower after a volatile trading on Monday as the conflict in Yemen and falling U.S. rig counts lent some support, while ample global supply kept market participants cautious after prices reached 2015 peaks last week. U.S. June crude closed down 16 cents,...
