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
Source: Reuters Oil prices settled lower on Monday, paring earlier gains as hopes of a comprehensive U.S.-China trade deal faded and a new poll showed analysts expected U.S. oil crude inventories to have risen last week. Brent crude LCOc1 settled down 2 cents, or 0.03%, at $58.35 a barrel, after hitting a high of $59.68. U.S. West Texas Intermediate (WTI)
From CNBC A year ahead outlook report from Bank of America Merrill Lynch expects Brent crude to regain its recent losses in 2019 and settle at $70 a barrel. But amid mounting global uncertainty on everything from trade and monetary policy to politics, that forecast is far from consensus. After a dramatic summit of OPEC and non-OPEC members over the
Saudi Arabias move to dispel doubts over Russia’s readiness to extend output curbs sent WTI and Brent crude oil benchmark prices up 2.32% and 2.10%, respectively. Recently Saudi Arabia’s Energy Minister Khalid AL-Falih said that OPEC will announce the extension of production when the group meets on November 30. OPEC and non-OPEC countries including Russia made a deal in to
Norway’s Troll crude oil to become part of the Brent benchmark price assessment: EIA Despite the continuing importance of the Brent price benchmark, actual crude oil production from the original Brent field will soon end after more than 40 years of production. Shell (ticker: RDSA), the operator of the Brent field, has begun to decommission and remove the offshore oil platforms and the
Markets unsatisfied with deal to maintain production The first signs of cooperation between OPEC and non-OPEC countries on crude oil production emerged today in the form of a deal between Russia and three OPEC members, including the group’s largest producer, Saudi Arabia. Russia, Saudi Arabia, Venezuela and Qatar agreed to a production freeze today, as the global glut of crude
