(Investing.com)– Oil prices were stable on Friday but were still headed for a weekly loss of about 7-8% after news of potential increases to OPEC+ supply. Brent crude futures were up 29 cents, or 0.5%, at $64.40 a barrel by 1311 GMT. U.S. West Texas Intermediate crude was up 27 cents, or 0.5%, at $60.75. For the week, Brent was trading
(Investing.com)– Oil prices edged lower on Thursday, extending a run of declines into a fourth day, with Brent hitting its lowest since early June due to concerns about oversupply in the market. Brent crude futures fell 58 cents, or 0.9%, to $64.77 a barrel at 1309 GMT. U.S. West Texas Intermediate crude retreated by 57 cents, or 0.9%, to $61.21 a barrel, also
(BOE Report)– U.S. oilfield services provider Halliburton has been cutting staff in recent weeks, according to two sources familiar with the matter, marking the latest workforce reduction in the U.S. oil industry as it faces rising costs and a period of lower prices and volatility. Global benchmark Brent crude oil prices have dropped more than 10% this year amid uncertainty
(BOE Report)– The discount on Western Canada Select to North American benchmark West Texas Intermediate futures widened on Thursday. WCS for October delivery in Hardisty, Alberta, settled at $11.55 a barrel under the U.S. benchmark WTI, according to brokerage CalRock, compared with $11.45 a barrel discount on Wednesday. * WCS discounts had already widened in August, in part due to
(Oil Price)– Saudi Arabia’s budget deficit is growing this year as oil prices are down from last year’s levels and well below the $90 per-barrel price the Kingdom is estimated to need to balance its budget. Brent Crude oil prices have declined by about 8% since the beginning of the year, at around $69 a barrel as of early Tuesday, additionally
(BOE Report)– Goldman Sachs on Sunday reiterated its oil price forecast with Brent averaging $64 per barrel in the fourth quarter of 2025 and $56 in 2026, but expects an increasing range of risks to its baseline estimates from recent developments. “Increasing pressure on Russia and Iran sanctioned oil supply poses an upside risk to our price forecast, especially given
Oil Price Oil prices have been highly volatile over the past week, with Brent trading across a $6.75 per barrel (bbl) range to hit a seven-month low of $75.05/bbl intra-day on 5 August thanks to bearish news coming from the world’s largest economy. The latest U.S. jobs report revealed that the economy added 114,000 jobs in July, way lower than the Wall Street
Yahoo Finance (Bloomberg) — Oil advanced from a four-month low as traders tried to establish a price floor after several days of declines. West Texas Intermediate rose after five straight days of losses, hovering near $74 per barrel. The market had entered oversold territory as a result of OPEC+’s plan to boost supply in October. Prices edged lower earlier in
Nasdaq Dec 29 (Reuters) – International oil prices are likely to stay near $80 a barrel in 2024, a Reuters poll showed on Friday, as analysts predicted weak global growth would cap demand, while geopolitical tensions could provide support. The analysts questioned whether the Organization of the Petroleum Exporting Countries and allies (OPEC+) would be able to sustain supply cuts to support
Oil Price The oil markets were slow to react to obviously bullish catalysts such as supply cuts, falling inventories and growing demand when they first kicked in about three months ago. Indeed, it appeared that the bears were about to overrun the markets, with bearish positioning in the oil futures markets recently sinking to the extremes they last did during the 2009
CNBC Oil prices edged lower on Tuesday, giving up most of the prior session’s gains that followed an announcement by the world’s top exporter, Saudi Arabia, that it would further cut output. Brent crude futures were down 23 cents, or 0.3%, at $76.48 a barrel at 00:20 GMT. The U.S. West Texas Intermediate crude eased 25 cents, or 0.4%, to $71.90 a
Reuters LONDON – Hedge funds sold petroleum for the second week running as crude prices topped $65 a barrel, the highest level since before the COVID-19 pandemic. The equivalent of 11 million barrels in petroleum futures and options were sold by hedge funds and other money managers in the week ending March 2, according to records published by regulators and
