Oil prices rose on Friday after an unexpected fall in the May U.S. jobless rate and OPEC’s decision to bring forward to Saturday discussions on whether to extend record production Continue Reading
WTI Crude prices may be set for a 90-percent jump to $70 a barrel by the fall as U.S. oil producers may have “over-cut” production, Dan Eberhart, chief executive of Continue Reading
Oil headed for a sixth weekly gain after OPEC+ reached a tentative agreement to prolong its record production cuts. Brent crude was back above $40 a barrel, while futures in New Continue Reading
Oil prices rose on Friday after OPEC decided to move up discussions on whether to extend record production cuts to Saturday, indicating that some laggard countries may have agreed to Continue Reading
The oil markets have been enjoying a period of sustained rally, thanks to a stream of positive factors including somewhat successful compliance to agreed production cuts , a partial rebound Continue Reading
WTI rose almost 90 percent last month, which is the strongest monthly increase in the U.S. benchmark price ever recorded. Naturally, the news has been cause for joy among those Continue Reading
Crude oil futures were trading lower in mid-morning trade in Asia on June 4 as uncertainty crept up on the market amid reports that OPEC+ talks were bogged down over Continue Reading
The stock rally fed by bets on a speedy global economic recovery from the pandemic paused for breath on Thursday as equities struggled in Europe and Asia. The dollar strengthened Continue Reading
Oil closed at the highest level since early March, buoyed by optimism that OPEC+ will rebalance the market. But the rally could turn on what happens at the alliance’s June Continue Reading
Oil ended slightly higher on Wednesday but remained below the session’s early highs above $40 a barrel, the highest since March, retreating as doubts emerged about the timing and scale Continue Reading
