Reuters LONDON – Benchmark Brent oil prices rose for a seventh consecutive day after demand worries eased with a slowing of new coronavirus cases in China and supply was curtailed by a U.S. move to cut more Venezuelan crude from the market. Brent LCOc1 was up 71 cents at $58.46 a barrel at 1510 GMT. The global benchmark has risen
CNBC OPEC’s battle to support oil prices as China’s coronavirus spreads internationally shows the producer group is struggling to wield the same influence over global crude markets, energy analysts have told CNBC. It comes amid speculation that OPEC and non-OPEC producers, sometimes referred to as OPEC+, could extend production cuts if the intensifying outbreak of the coronavirus hampers oil demand growth. International benchmark Brent crude traded at
CNBC Oil futures rose 1% Tuesday after a five-day losing streak as OPEC sources said the group and its allies might tighten the market amid fears that the coronavirus, which has claimed over 100 lives in China, could weigh on oil demand. Brent crude, which oscillated between positive and negative territory, gained 59 cents, or 1%, to trade at $59.91
Reuters LONDON – Brent oil futures fell on Wednesday from a four-month peak hit in frenzied early trading after a rocket attack by Iran on American forces in Iraq appeared to have no impact on oil infrastructure or crude flows. Tweets by U.S. President Donald Trump and Iran’s foreign minister also seemed to signal a period of calm – for
Reuters NEW YORK – Oil prices fell about 1% on Tuesday, surrendering some of the gains of recent days as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed a top Iranian military commander last week. Brent crude LCOc1 was down 71 cents, or 1%, at $68.20 a barrel. U.S. West Texas
Houston Chronicle Oil settled above $61 a barrel after posting its biggest annual gain in three years amid elevated tensions in the Middle East and signs that U.S. crude stockpiles fell further. Futures in New York rose Thursday but are set to post the first weekly decline in five weeks. Defense Secretary Mark Esper said Thursday that the U.S. was
CNBC The question of how much crude U.S. producers may be able to add this year could be pivotal for oil prices in 2020, analysts told CNBC, while warning of the potential for “vicious corrections” in the coming months. Speaking to CNBC’s “Squawk Box Europe” on Thursday, Chris Weafer, a senior partner at Macro-Advisory, suggested three “critical factors” were set to have
Houston Chronicle Hedge funds are approaching the end of the year more optimistic on global oil prices than they’ve been since May. Their net-bullish wagers on Brent crude climbed for the ninth week in 10, reaching a seven-month high, data released Friday show. The U.S.-China trade truce and OPEC’s commitment to deeper cuts have pushed futures to their highest since
Reuters JP Morgan on Tuesday raised its oil price outlook and forecast supply-demand balance to tighten next year against the backdrop of the OPEC and its allies increasing output cuts and stronger economic growth in emerging markets. The investment bank revised its Brent price forecast to $64.5 per barrel in 2020 from $59 earlier, although it expects prices to slip
Houston Chronicle Oil edged higher to settle at a three-month high on optimism that a partial trade deal between the world’s two largest economies will spur demand for fuel to power trucks, trains, airplanes and cars. Futures closed above the $60-a-barrel mark for a second straight session Monday in New York. Bullish bets rose the most in three years in
Source: Reuters NEW YORK (Reuters) – Oil prices ended Tuesday little changed after paring gains of about 1% following a speech from U.S. President Donald Trump that offered few new details about Washington’s trade talks with Beijing. Concerns about slower economic growth and oil demand due to the fallout from the 16-month trade dispute between the world’s two biggest economies
Source: Reuters NEW YORK (Reuters) – Oil prices rose 2% on Friday on signs of progress in U.S.-China trade talks and stronger-than-expected economic data in both countries, including U.S. employment and Chinese manufacturing activity numbers. Brent crude was up $1.16, or 2%, at $60.78 a barrel by 12:01 p.m. ET (1601 GMT), but remained on course for a drop of
