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As oil prices entered a second steep slide a few weeks ago, bullish traders and analysts had hoped for a repeat of the sharp but short dip that occurred early in the year – a speculative slide below $50 (32.16 pounds) a barrel followed by a quick recovery.
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Crude oil prices fell on Friday as a stronger dollar, Saudi Arabia’s dismissal of a producer summit and a lower price forecast by Goldman Sachs weighed, with prices headed for a weekly loss despite rallying in the previous session.
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Deepwater oil projects and complex gas facilities worth around $200 billion have been cancelled or put on hold worldwide in recent months due to the sharp drop in oil prices over the past year, consultancy Ernst and Young said on Tuesday.
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By Christopher Johnson LONDON (Reuters) – Oil prices rallied from sharp losses on Thursday but brokers said the downtrend could resume soon as record-high stocks and worries over slowing economic growth dampened sentiment. Brent crude oil <LCOc1> was up 50 cents at $46.76 a barrel by 0745 GMT. U.S. crude <CLc1> was up 60 cents […]
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By Henning Gloystein SINGAPORE (Reuters) – U.S. crude prices rose for a fourth straight session on Thursday, headed for a 9 percent weekly gain in the lead-up to Christmas as the market tightened on the back of falling supplies and looming exports. Front-month West Texas Intermediate (WTI) crude futures <CLc1> were trading at $37.72 per […]
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Oil prices fell by around one percent on Friday as a stronger dollar weighed and Russia warned that a global crude supply overhang could last into next year.
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Oil prices rose early on Tuesday as some analysts said markets might not be quite as oversupplied as suggested by many, with global inventories rising less than expected ahead of the high-demand winter heating season in the northern hemisphere.
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By Amanda Cooper LONDON (Reuters) – Oil rose on Wednesday, paring earlier losses after Russia reiterated its openness to talking with OPEC about output cuts, which helped revive hope among investors that the world’s largest producers could act to boost prices. Russian Foreign Minister Sergei Lavrov said if there is consensus among the Organization of […]
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Brent crude futures plunged more than 4 percent to fresh 12-year lows on Friday as the market braced for increased Iranian oil exports, with the lifting of international sanctions possible within days.
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Oil slid on Thursday, dented by record U.S. crude inventories at the Cushing delivery point, worries about the demand outlook, and as Goldman Sachs said prices would remain low and volatile until the second half of the year.
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Oil fell towards $37 (25 pounds) a barrel on Monday, trading within sight of an 11-year low, pressured by excess supply that has more than halved prices since the downturn began in mid-2014.
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Oil prices fell on Thursday as weak Japanese and Chinese economic data fuelled concerns that growth could be grinding to a halt.
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Crude futures rose in early Asian trade, with U.S. oil climbing above $50 a barrel, after an influential forecaster predicted that a market rally was not far off and U.S. Federal Reserve minutes suggested there was no hurry to raise rates.
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By Henning Gloystein SINGAPORE (Reuters) – Oil prices dipped on Friday, dragged down by a surging dollar that at least temporarily outweighed supply disruptions in North America, where a massive wildfire was threatening Canada’s huge oil sands operations. The dollar firmed against the euro and yen on Friday ahead of the April U.S. nonfarm payrolls […]
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By Henning Gloystein and Dmitry Zhdannikov SINGAPORE/LONDON (Reuters) – Oil prices jumped over 2 percent on Monday to their highest since October 2015 on growing Nigerian oil output disruptions and after long-time bear Goldman Sachs said the market had ended almost two years of oversupply and flipped to a deficit. Brent crude futures were trading […]
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Russia believes an oil price at $45 (31 pounds)-$50 per barrel is acceptable to allow the global oil market to balance, as it prepares to meet leading oil producers in Doha later this month, sources familiar with Russian plans said on Wednesday.
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By Dmitry Zhdannikov LONDON (Reuters) – Oil futures edged down on Friday to below $40 per barrel, with the market growing increasingly sceptical that a looming deal to freeze crude production can help clear a global glut. Brent crude for June delivery <LCOc1> fell 64 cents to $39.69 a barrel as of 1000 GMT. Brent […]
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By Karolin Schaps LONDON (Reuters) – Oil prices climbed for a seventh straight session on Friday thanks to a weaker U.S. dollar in their longest bull run since April but were still set for their worst first-half performance since 1998. Lingering worries about oversupply have knocked 16 percent off Brent crude so far this year, […]
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Crude oil prices hit fresh seven-year lows on Friday as the International Energy Agency (IEA) warned global oversupply could worsen in the new year.
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Oil prices fell on Monday as rising production in the Middle East outweighed a decline in U.S. output and a recent slide in the dollar, which has been supporting crude.
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By Aaron Sheldrick TOKYO (Reuters) – Crude prices inched up on Friday after dropping to their lowest in more than three months the session before, pressured by concerns that a global supply glut is proving stubbornly persistent. U.S. West Texas Intermediate crude (WTI) <CLc1> was up 17 cents, or 0.4 percent, at $49.45 a barrel […]
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By Libby George LONDON (Reuters) – Brent crude hit a three-month high on Monday, extending gains that have lifted crude benchmarks by more than a third from this year’s lows on an improving global outlook and stronger sentiment for a market recovery. Front-month Brent crude futures LCOc1 traded as high as $39.50, the highest since […]
