U.S. President Donald Trump’s assertion that OPEC is propping up oil prices amid oversupply and an excess of floating storage has a problem: it’s only half true. While OPEC has Continue Reading
Oil prices reversed gains and dipped early on Friday after U.S. President Donald Trump tweeted that oil prices are “artificially very high” and “will not be accepted”, the day after Continue Reading
Oil prices could reach $80 a barrel in April, although such a price would not be justified by market fundamentals, Russia’s Energy Minister Alexander Novak said on Friday. Asked whether Continue Reading
Oil prices are now as high as they have been for three years. At this writing, Brent is $74.14 per barrel and West Texas Intermediate is at $68.76. These prices Continue Reading
The surge in gas prices coming from higher crude oil prices means OPEC is canceling out the gains of U.S. consumers from a tax break, GasBuddy said Friday. U.S. retail Continue Reading
Rapid increases in U.S. oil output and exports over the past two years are forcing some traders and producers to try alternative ways of pricing crude. While the market benchmark Continue Reading
Oil prices on Friday stayed near three-year highs reached earlier this week, with ongoing OPEC-led supply cuts and strong demand gradually drawing down excess supplies. Brent crude oil futures LCOc1 Continue Reading
As oil prices have soared, hedge funds and other big investors have amassed a record number of bullish bets on crude, putting the market at risk of a swift fall Continue Reading
Crude futures prices rose to fresh three-year highs on Thursday, as a sharp stock draw in the US and signals that OPEC could continue production cuts into next year continued Continue Reading
Oil prices reached highs last seen at the end of 2014 early on Thursday, with WTI Crude trading just below $70 a barrel after another drop in U.S. inventories and Continue Reading
