Brent nears $70 as oil prices rise for fourth day
Oil prices rose for a fourth day on Wednesday, pushing Brent towards $70 a barrel as support from OPEC-led supply cuts and U.S. sanctions overshadowed a report showing an unexpected Continue Reading
Oil Rally Slows On Surprise Crude Build
The American Petroleum Institute (API) reported a build in crude oil inventory of 3.0 million barrels for the week ending March 29, coming in over analyst expectations of a 425,000-barrel Continue Reading
Oil Hits 2019 High On Shale Slowdown
The EIA projects that U.S. tight oil production, having taken over from conventional crude as the major source of output for the country, will hit 10 million barrels of daily Continue Reading
Bullish Hedge Funds Send Oil Soaring
Hedge funds and other money managers expanded their bullish bets on oil prices last week amid signs that U.S. shale growth is slowing, the global oil market is further tightening, Continue Reading
White House sees ‘quite low’ oil prices despite Venezuela sanctions: Pence
Washington — Global oil prices are not deterring the White House from considering additional sanctions against Venezuela, US Vice President Mike Pence said Tuesday. Receive daily email alerts, subscriber notes Continue Reading
Crude oil futures extend uptrend on an expectation of further OPEC+ cuts
Crude oil futures were higher during mid-morning trade in Asia Tuesday, extending the uptrend seen Monday, as expectations increased that the OPEC+ producer group would extend global output cuts. At Continue Reading
Oil hits 2019 high on OPEC cuts, concerns over demand ease
Oil hit a 2019 high above $69 a barrel on Tuesday on the prospect that more sanctions against Iran and further Venezuelan disruptions could deepen an OPEC-led supply cut, and Continue Reading
Oil rises to 2019 highs as demand outlook improves
Oil climbed about 2 percent to new 2019 highs on Monday, with Brent crude touching $69 a barrel, after positive signs for the global economy and tighter supplies drove both Continue Reading
Oil Prices Spike On Shale Slowdown
The collapse of oil prices late last year, along with pressure from shareholders, has led to a slowdown in the U.S. shale industry. The EIA released new monthly data on Continue Reading
Banks Lift Oil Price Forecasts for 2019
LONDON—Banks raised their forecasts for the price of Brent crude, the global oil benchmark, in 2019, as the market continues to be supported by production cuts led by the Organization Continue Reading