Oil hit a two-month high close to $64 a barrel on Monday as OPEC-led supply cuts and U.S. sanctions against Venezuela’s petroleum industry offset forecasts of weaker demand and an Continue Reading
Sanctions on Venezuelan exports as well as non-extension of Iran sanction waivers could help oil prices rise higher, analysts said. Oil prices rose by 3 percent on Friday largely due Continue Reading
Baker Hughes reported a sharp drop in the number of active oil and gas rigs in the United States this week. The total number of active oil and gas drilling Continue Reading
Oil prices rose almost 2 percent on Friday morning, closing higher for the week, with traders turning turned bullish once again as a result of lower OPEC+ supply and global Continue Reading
Oil prices rose about 3 percent on Friday on upbeat U.S. jobs data and signs that U.S. sanctions on Venezuelan exports have helped tighten supply, then extending gains after weekly Continue Reading
Crude oil futures were higher during morning trade in Europe Wednesday on supply concerns stemming from US sanctions on Venezuela’s oil sector, sliding Iranian oil exports, and production cuts by Continue Reading
Oil prices are on track for strong gains this week, and the price increases are not only the result of the crisis in Venezuela. The oil market received a boost Continue Reading
Oil prices edged up on Friday amid hopes the United States and China could soon settle their trade disputes, although data from China stoked concerns over an economic slowdown that Continue Reading
Crude oil futures dipped in mid-morning trade Asia Monday as risks of a downside in demand outweighed lingering concerns of tightening supply. At 11:30 am Singapore time (0330 GMT), ICE Continue Reading
Oil fell 1 percent on Monday after U.S. companies added rigs for the first time this year, a signal that crude output may rise further, but the price is still Continue Reading
