Reuters NEW YORK – Oil prices rose on Monday to three-month highs, lifted by optimism over an expected China-U.S. trade deal and upbeat industrial data, while traders kept a close watch on the Middle East following U.S. air strikes in Iraq and Syria. Brent crude futures LCOc1 gained 55 cents to $68.71 a barrel by 11:17 a.m. EST (1617 GMT).
Reuters HOUSTON – Oil prices rose to the fourth consecutive weekly gain on Friday, steadying at three-month highs after new data showed U.S. crude inventories fell far more than expected, while upbeat economic data and optimism over a U.S.-China trade deal fueled a year-end stock market rally. Brent crude LCOc1 rose 24 cents to settle at $68.16 a barrel, the
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
Houston Chronicle The nation’s tally of active drilling rigs held flat this week as rising U.S. crude oil prices flirted with the $60 per barrel threshold, according to the weekly count from the Houston oilfield services firm Baker Hughes. For a U.S. energy sector that’s shed more than 25 percent of its active rigs this year, even holding steady
Reuters HOUSTON – Oil prices dropped about 1% on Wednesday following a surprise build in U.S. crude inventories, and as investors waited to see if a fresh round of tariffs by Washington on Chinese goods would come into force on Sunday. Brent futures LCOc1 fell 80 cents to $63.54 per barrel by 10:29 a.m. CDT (1629 GMT). West Texas Intermediate
Houston Chronicle Oil gained as the U.S. and China were moving closer to a trade deal and before OPEC+ decides on its output-cut policy later this week. Futures added as much as 1.8% in New York. The U.S. and China are moving closer to agreeing on the amount of tariffs that would be rolled back in a phase-one trade deal
Houston Chronicle Houston oilfield service company Halliburton plans to close an office just west of Oklahoma City where more than 800 employees are losing their jobs. In a Monday morning letter filed with the Oklahoma Office of Workforce Development, Halliburon Vice President of the MidCon Area Michael Queener wrote that the company expects to close its office in El Reno, Oklahoma.
Houston Chronicle Crude oil prices are expected to plunge to $40 a barrel in 2020 unless OPEC and Russia agree to deepen – and not just extend – their production cuts, according to a new report from the Norwegian research firm Rystad Energy. The Organization of the Petroleum Exporting Countries and their allies, led by Russia, are meeting Thursday and Friday
Houston Chronicle Oil steadied on signs of progress in trade talks between the U.S. and China, and estimates that American crude inventories retreated for the first time in five weeks. Futures traded little changed near $58 a barrel in New York. Washington and Beijing “reached consensus on properly resolving relevant issues” to pursue a “phase one” trade deal during a
CNBC Oil prices rose on Thursday after a Reuters’ report showed OPEC and its allies are likely to extend output cuts until mid-2020 while fresh reports emerged that China has invited U.S. negotiators for a new round of talks. Brent crude futures rose 69 cents, or 1%, to $63.09 a barrel, while West Texas Intermediate crude futures rose 82 cents, or 1.4%, to
Source: Houston Chronicle The nation’s supplies of commercial crude oil spiked by 5.7 million barrels last week, but declines in refined products caused overall petroleum supplies to fall for an unprecedented fourth consecutive week. Crude oil prices dipped a bit Wednesday morning on the more bearish crude inventories increase, but the offsetting declines in other petroleum supplies kept oil prices
Source: Reuters NEW YORK (Reuters) – U.S. crude oil stockpiles soared last week amid higher imports and a release from national reserves, while gasoline and distillate inventories extended their declines even as refiners ramped up production, the Energy Information Administration said on Wednesday. Crude inventories, excluding the Strategic Petroleum Reserve (SPR), rose 5.7 million barrels in the week to Oct.
