Oil prices near two-year highs as supply cuts bite
Oil prices eased on Tuesday after a week of gains as the prospect of increasing U.S. exports dampened bullish sentiment that has driven Brent to more than two-year highs above Continue Reading
Oil prices test new territory amid OPEC chatter
Crude oil prices continued to test new highs in Monday trading, supported by a growing consensus that OPEC will extend a production cut agreement in November. The price for Brent Continue Reading
Brent oil ends above $60 on expected OPEC cut extension
Brent oil closed on Monday at its highest level since July 2015 and U.S. crude closed at a peak not seen since February on expectations OPEC-led production cuts would be Continue Reading
Brent crude tries new trading range as funds stay bullish: Kemp
Hedge funds have added to bullish positions in oil and most refined products even as prices hit their highest since 2015, in a sign investors expect prices to move into Continue Reading
Oil market set to move from rebalancing to tightening: Kemp
The oil market is now well into a cyclical upswing and within the next year the narrative about “rebalancing” is likely to be replaced by one about “tightening”. Rebalancing started Continue Reading
Can $60 Oil Last?
Oil prices firmed up in recent weeks, but held back from key resistance points—roughly $60 per barrel for Brent, and around $55 per barrel for WTI. Oil traders were reluctant Continue Reading
Iraq’s Kurds Resume Pumping Oil by Pipeline to Turkish Port
Kurd region exported 264,000 barrels a day before brief halt Latest stoppage came after Iraq retook Kirkuk area from Kurds Oil exports resumed from Iraq’s Kurdish region after halting earlier Continue Reading
UAE to keep cutting oil output to comply with global deal: minister
The United Arab Emirates will continue to reduce its oil output to meet its commitment to a global oil production cut agreement, its Energy Minister Suhail al-Mazroui said. “As part Continue Reading
Iraqi Pipeline Disruption Takes 250,000 Bpd Off The Market
Crude oil from northern Iraq, including from the Kurdistan region, stopped flowing from the oil pipeline between Kirkuk and the Turkish Mediterranean port of Ceyhan early on Monday local time, Continue Reading
Violence Ensues Following Kurdistan President Resignation
Kurdistan’s President Masoud Barzani announced his resignation three days before the end of his term in office, with violence erupting against the autonomous region’s parliament, according to tweets from Erbil. Continue Reading