fetching latest news
News tagged in:
Oil prices in the international market on Monday rose on the notion that Saudi Arabia will push OPEC to curb supply towards year-end. Benchmark Brent crude oil futures were up 0.8%, at $67.29 per barrel. US WTI crude futures climbed 1.3%, at $57.17 per barrel. OPEC defacto leader, Saudi Arabia will most likely push the cartel to cut the supply by 1 million to 1.4 million bpd to prevent oversupply.
Oil prices managed to climb up on Friday after losing the grip on market almost the whole week. The expectations from OPEC for supply cut supported the prices but record US production pulled it down. US WTI went up by 0.7% and was traded at $56.84 per barrel while, Brent crude rose by 0.7% and was traded at $67.10 per barrel.
Oil prices today declined, stressed by supply rise in a market where consumption is expectedly slow. Benchmark Brent crude oil futures were trading 0.3% lower at $65.90 per barrel. US WTI crude futures were at $55.95, down by 0.5% from their last close. Data released this week demonstrated economic contraction in Japan and Germany in the third quarter.
Oil market struggled to gain its ground on Wednesday after falling by 7% in the previous session. The supply has taken a hike but at the same time demand has kept the investors on edge. Brent increased by 4%, at $65.51 per barrel. WTI dropped a little and was traded at $55.54 per barrel. This has been a major decline in the crude value since the collapse in 2014.
An announcement of supply cut in December by top exporter Saudi Arabia sent oil prices for a 1% gain today. Crude suffered a 20% decline since early October and the move is most likely intended to pull through the market. Benchmark Brent crude futures rose 1.7%, and were priced at $71.37 per barrel. US WTI crude futures climbed 1.1% to $60.87 per barrel.
Oil prices held steady today as the new wave of US sanctions hit Iran’s fuel exports, though waivers allowing major buyers to import Iranian crude softened the market. Brent crude remained unchanged at $72.83 per barrel while US WTI dropped to $62.99 a barrel. Russia, US and Saudi Arabia jointly produced more than 33 million bpd for the first time in October, highest since 2010.
Oil prices in the international market edged up today, gaining on the hopes that US and China might end the tariff war. International benchmark Brent crude futures, climbed 0.2%, were priced at $73.04 per barrel. US WTI crude futures, rose by 0.1%, were traded at $63.76 a barrel. A phone call between the US and Chinese presidents raised investors’ hopes today.
On Wednesday, oil prices climbed up for the first time in three days. The increased prices were weighed down by the pressure of rising supply fears amid the US-China trade war. The international market benchmark, Brent crude gained 0.7% and was traded at $76.43 a barrel. US WTI futures rose by 0.4% and was traded at $66.47 a barrel.
With the signs of increase in global supply regardless of the approaching dates of US sanctions on Iran’s crude exports, oil prices slipped further on Tuesday. The current fragile condition of global stock markets also weighed down the crude prices. Brent fell down by 0.4% and was traded at $77 a barrel while WTI was traded at $67.08 a barrel.
Oil prices held fast today amidst early jump in Asian stocks. International Benchmark Brent crude oil futures climbed 0.2%, to $77.77 a barrel. US West Texas Intermediate (WTI) crude futures rose by 0.4%, at $67.89 a barrel. Analysts however believe that sentiments remain cautious after financial markets plunged last week over concerns of slowing global growth.
Oil prices dropped today as Saudi Arabia’s OPEC governor remarked that market may become oversupplied, followed by a slump in global equities which clouded the demand outlook. Brent crude futures were down by 0.7%, traded at $76.38 a barrel. WTI crude was down by 1%, priced at $66.68 per barrel. While Brent is set for a weekly loss of over 4%, WTI is headed for a 3.5% loss this week.
The second wave of US sanctions will hit Iran’s petroleum export from November 4. Responding to the future supply concerns, Saudi Arabia’s Energy Minister announced to “meet any demand that materializes to ensure customers are satisfied.” and crude collapsed as much as 5% after that. Owing to these reasons, oil prices slumped on Wednesday. Brent crude was traded at $76.37 a barrel and US WTI was at $66.31 a barrel.
Oil prices notched up today due to expectations of tight market ahead of the looming US sanctions. Brent crude oil futures were priced at $79.88 per barrel. US WTI crude futures rose to $69.31 per barrel. The looming US sanctions on Iran’s oil exports remained the major driver of oil prices in the market. Also, the new Permian WTI crude futures deliverable in Houston will begin trading on Monday.
Oil prices edged up on Friday but the market predictions point towards a further dropdown in prices. The reasons for this drop will be rising US crude inventories, Sino-US trade war and worries over the death of prominent Saudi journalist. Brent crude went up by 0.4% and was traded at $79.63 a barrel. WTI crude futures increased by 0.4% and was traded at $68.92 a barrel.
Oil prices rose on Wednesday due to an unexpected decline in US crude inventories. A prominent Saudi journalist disappeared, creating further geopolitical tensions and affecting oil prices. Brent went up by 0.2% and was traded at $81.53 a barrel, while WTI increased by 0.2% and was traded at $72.07 a barrel. The reports of falling Iranian crude exports faster than expected has supported the market.
Signs of fall in Iranian oil exports ahead of the November sanctions sent oil prices higher today in the international market. Brent crude rose by 0.33%, to $81.05/barrel. WTI crude climbed to $71.90 a barrel. According to data from Refinitiv Eikon, Iran experienced a drop in the oil exports, from 1.6 million bpd to 1.33 million bpd. Fresh wave of US sanctions on Iran will kick in on November 4th.
Crude oil rates saw a rise today, amidst growing geopolitical tensions over the disappearance of journalist and Saudi-critic, Jamal Khashoggi. Brent crude gained 1.26%, and was traded at $81.44 a barrel. WTI crude futures edged up 1.12% priced at $72.14 a barrel. Reports of South Korea not importing a single barrel of oil from Iran in September also supported crude oil markets.
After two days fall, oil prices rose again on Friday. The signal of exaggerated supply concerns and downturn in equity markets have affected the crude market. Brent crude rose by 0.4%, at $80.59 a barrel, while WTI futures went up by 0.4%, at $71.23 a barrel. On Thursday, a global equity index went down to a 1-year low due to the ongoing trade war between US and China.