Oil prices fell more than $1 a barrel on Friday as worries receded over the threat of disruptions to Middle East supplies due to Saudi Arabia-led air strikes in Yemen. Goldman Sachs said the bombing of Yemen would have little effect on oil supplies as the...
Yemen produces roughly 130,000 barrels of crude oil a day, but it still has the power to rally oil prices. It is all about location. It sits at the Bab el-Mandab Strait, a key chokepoint in international shipping—making it important in terms of international energy trade,...
The prospect of a return to $100-a-barrel crude is tempting some to bet against the bearish consensus in the oil market. One or more traders have resumed buying call options that pay out if benchmark US crude futures surpass $100 by the end of 2018. Call...
Brent crude oil shot up nearly 6 percent on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen, although importers saw little immediate threat to supplies. The strike against Houthi rebels, who have driven the president from Yemen's capital Sanaa,...
Brent crude fell below $54 a barrel in choppy trade on Tuesday, reversing gains earlier in the day as concerns over a growing supply glut weighed on the market. Prices on the other side of the Atlantic fell for a sixth session to just above a...
Oil prices came under renewed pressure in Tuesday's post-settlement trade, after a 3-day losing streak, as an industry group reported a huge build in U.S. crude inventories ahead of official data. Benchmark Brent oil had earlier ended up for the session, supported by a weaker dollar...
(Reuters) - Brent prices fell 2 percent on Monday pressured by European Central Bank bond-buying, while U.S. crude rose about 1 percent on a smaller-than-expected build in inventories at the key Cushing oil hub, leading to a narrowing gap between the two benchmarks. Brent's premium to...
