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,...
Oil prices diverged on Wednesday with Brent closing up on renewed fighting in Yemen while U.S. crude fell after another weekly rise in inventories despite slower production. Futures of U.K. North Sea Brent, the more globally used benchmark for crude, settled up 1 percent as warplanes...
Oil prices fell on Tuesday after Saudi Arabia announced the end of its military campaign in Yemen, easing tensions in the Middle East, and traders expected another weekly build in U.S. crude stockpiles. The Saudi-led coalition bombing Yemen said its three-week operation against Iran-allied Houthi rebels...
Oil prices eased from early highs to under $64 a barrel on Monday after Saudi Arabian Oil Minister Ali al-Naimi said production in the world's biggest crude exporter would stay near record peaks around 10 million barrels per day (bpd) in April. Brent crude LCOc1 was...
Oil eased below $64 a barrel on Friday as evidence this week of rising crude supplies from OPEC members outweighed signs of a slowdown in U.S. output and Middle East tensions. Brent crude was still within sight of its 2015 high reached on Thursday and has...
