Oil prices recover on GDP gains in Europe, U.S. labor
Oil prices moved back into black territory after signs of modest growth in the European economy and fewer U.S. jobless claims. File photo by John Angelillo/UPI Dec. 7 (UPI) — Continue Reading
Oil rises over 1 percent on threatened Nigeria strike, short covering
Oil prices climbed more than 1 percent on Thursday due to a threatened strike in Nigeria and as traders cover shorts after sharp losses the previous day brought on by Continue Reading
Hedge Funds Killed The OPEC Rally
Oil investors were confident ahead of the OPEC meeting last week, holding onto their bullish bets, but now there seems to be a bit of an OPEC hangover after weeks Continue Reading
Oil settles at two-week low on surprise U.S. fuel stock rise
U.S. crude on Wednesday slid nearly 3 percent on Wednesday, its biggest daily decline in more than two months, after a sharp rise in U.S. inventories of refined fuel suggested Continue Reading
Oil dips on rising U.S. fuel stocks, but OPEC’s supply cuts support market
Oil prices dipped on Wednesday, as refined product inventories in the United States rose in what the market interpreted as a sign of lacklustre demand. Brent crude futures LCOc1, the Continue Reading
Oil Prices Fall After API Reports Huge Build In Gasoline Inventories
The American Petroleum Institute (API) reported a large draw of 5.481 million barrels of United States crude oil inventories for the week ending December 1, while analysts had expected a Continue Reading
OPEC’s Latest Agreement May Not Stabilize Oil Prices
The 14-strong Organisation of Petroleum Exporting Countries (OPEC), along with 10 oil states outside of the cartel, has reached an agreement to limit oil output until the end of 2018. Continue Reading
Fear Will Drive Oil Prices Higher In 2018
The price of oil has always been driven by cycles of fear and complacency. During the cycle of fear, geopolitical events can send the price of oil soaring. During the Continue Reading
Oil Markets Calm After OPEC Storm
Natural gas production in the Appalachia region (which includes the Marcellus and Utica shales) has increased by more than 14 billion cubic feet per day (Bcf/d) since 2012. That growth Continue Reading
Oil Climbs as OPEC Tightening Dovetails With U.S. Supply Drop
Bank of America Merrill Lynch sees Brent at $70 next year U.S. crude stocks probably fell 2.5 million barrels last week Crude rose as lower OPEC production and signs of Continue Reading