#Oil

Latest Oil market news, analysis and commentary.



Oil markets were split on Tuesday, with U.S. crude pushed up by reduced flows from Canada while international Brent prices eased. U.S. West Texas Intermediate (WTI) crude futures were at $62.38 a barrel at 0518 GMT, up 70 cents, or 1.1 percent, from their last...
Oil prices extended gains to hit their highest level in nearly two weeks on Monday, buoyed as Asian shares joined a global recovery in equity markets and as worries grew over tensions in the Middle East.Prime Minister Benjamin Netanyahu said on Sunday that Israel...
A predictable wave of profit taking and risk reduction, as is standard form ahead of US long weekends, dominated Friday session leading to USD gains as US yields pulled back. And while the broader US dollar negativity continues to seep through capital markets, some...
Oil prices stood near a one-week high on Friday as global equities headed for their biggest weekly gain in six years as the dollar slipped to a three-year low. U.S. West Texas Intermediate crude for March delivery was down 20 cents at $61.15 a barrel...
Oil bulls got another thing to cheer about today as Russia and OPEC announced they were looking to draft a long term agreement around an alliance to help control oil markets. This seems like a fantastic opportunity for OPEC, but in reality Russia has...
Just over a year into production cuts lead by OPEC and Russia, oil markets in Asia have tightened noticeably as significant amounts of excess crude have been taken off tankers used for storage and delivered to customers across the region. hipping data shows about 15...
Saudi Arabia’s Energy Minister Khalid al-Falih said on Wednesday he was confident that cooperation between the Organization of the Petroleum Exporting Countries (OPEC)and its non-OPEC allies will continue to stabilize oil markets.“I am confident that our high degree of cooperation and coordination will continue...
Oil prices rose on Tuesday, lifted by a rebound in global stock markets that followed sharp falls last week, as well as by a weaker dollar which potentially supports more fuel consumption. U.S. West Texas Intermediate (WTI) crude futures were at $59.60 a barrel at...
Investors around the globe will closely monitor how the stock markets perform throughout trading today, following the rollercoaster ride that the financial markets experienced last week.Although it would not be an understatement to suggest that volatility in global stock markets has reached intense levels,...
Oil prices fell for a sixth day on Friday after Iran announced plans to boost production and U.S. crude output hit record highs, adding to concerns about a sharp rise in global supplies.The falls come amid a rout in global share markets as inflation...
Equity markets were trounced on the back of Global yields parading to multi-year highs Thursday. Indeed, it was less dovish Fed speak that continued to be the driver, and the BoE provided a hawkish bounty for good measure.The ruckus in the bond pits these...
In the two years since Washington lifted a 40-year ban on oil exports, tankers filled with U.S. crude have landed in more than 30 countries, ranging from massive economies like China and India to tiny Togo.The repeal has unleashed a flood of U.S. shale...
US stocks toppled again on Wednesday in choppy and messy fashion after a dispirited US Treasury auction revived concerns about a hawkish Fed, unnerving investors already spooked after the rapid climb in US Treasuries apparently ignited a jump in the Cboe Volatility index.A deplorable...
Crude prices traded in the green on Wednesday, reversing losses from the previous sessions as markets gave signs of recovery after a turbulent selloff that was triggered by Wall Street last Friday. Meanwhile, the US dollar also weakened, making dollar-denominated assets such as oil...
After record losses were posted on Wall Street on Monday, US equity indices manged to finish the session higher overnight. The Dow Jones turned an initial 500 plus point loss into a 567-point gain, clawing back around half of the 1,100 points wiped out...
Oil fell for a third day on Tuesday, as a rout in global equities triggered losses across bonds, cryptocurrencies and commodities, although the crude price is in positive territory so far this year.Even with Wall Street stocks posting their largest one-day fall since late...
Oil prices on Monday extended declines from the end of last week amid a wider market sell off and a stronger dollar, with Brent crude falling to its lowest in nearly a month.Other markets dropped as investors were spooked by Friday’s payrolls report from...
Topics:Gold up ahead of US NFP data. Cryptocurrencies still under pressure. Dollar index could move higher. Oil markets looking more balanced.GOLD  Gold has bounced back up today and any losses posted during Thursday's sessions are wiped off. However, caution is the word which everyone...
Surging shale oil production in Texas and North Dakota is being felt on trading desks in Chicago, Houston and New York, where a brisk business in West Texas Intermediate crude futures is far outpacing contracts for London-based Brent crude.As the United States approaches a...
Oil rose on Thursday after a survey showed OPEC’s commitment to its supply cuts remains in place, even as U.S. production topped 10 million barrels per day for the first time since 1970.Brent April crude futures were up 49 cents on the day at...
Oil prices fell on Tuesday for a second day as rising U.S. output and a strengthening dollar sapped demand for crude, pushing Brent below $69 a barrel for the first time in six days.rent crude futures, the global benchmark, had declined 46 cents, or...
There has been a pause for thought in the bearish dollar trend after an enigmatic spike in US Treasury yields yesterday sent dollar bears heading for shelter while leaving a sea of red in their wake across FX markets.The higher US ten-year yield has...
Currency Market OverviewA triple dose of verbal intervention was enough to stem the dollar bloodletting for the time being.During his, Q&A Draghi was doing his best to deflect questions on the Euro then just as 1.2500 broke; Draghi said EUR’s gains were due to...

Oil hits fresh 3-year highs

Oil prices reached fresh 3-year tops during the European afternoon as a falling dollar, declining US oil stockpiles and OPEC-led supply cuts continued to underpin the market.WTI crude peaked at $66.44 per barrel before it fell back to $66.00 (+0.72%) and Brent hit a high at $71.20...
Without a doubt, crude oil is the most important commodity in the world. Without it, other commodities would be difficult to produce on a large scale. For example, it would be impossible to cultivate corn, cotton, and wheat on large scale without using the...
Oil prices climbed on Monday, pushed higher by comments from Saudi Arabia that cooperation between oil producers who are withholding supplies would continue beyond 2018.Strong global economic growth and a drop in U.S. drilling activity also supported crude, traders said.Brent crude futures were at...
Last week the US dollar was trying to perform it’s best Lazarus impersonation but fell well short on all accounts not only hampered by dwindling long-term sentiment but also feeling the weight from the latest political fracas in Washington. However, the dollar has not...
Commodities were trading on a mixed note come Thursday, despite data showing a much-larger-than-forecast decline in US crude oil stockpiles and a slightly stronger than expected reading on Chinese gross domestic product in the fourth quarter.In the energy space, front month West Texas Intermediate...
The dollar wallowed near three-year lows on Friday as heightened fears of a U.S. government shutdown unnerved investors, while U.S. Treasury yields continued an upward march to hit their highest levels since September 2014.Legislation to stave off an imminent federal government shutdown encountered obstacles...
Oil has been one of the standout trades in 2017 and so far in 2018 it has looked positive. One of the reasons behind that has been the constant drawdown's in inventory in the US which has helped push up prices further. Today's reading...

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