Huge Crude Draw Pushes Oil Prices Even Higher
The American Petroleum Institute (API) reported a huge draw of 5.087 million barrels in United States crude oil inventories, largely in line with an S&P Platts’ survey of analysts that Continue Reading
Oil prices surge as OPEC’s compliance with cuts improves
Oil prices rose to near recent highs on Wednesday as data showed OPEC has significantly improved compliance with its pledged supply cuts and Russia is also seen keeping to the Continue Reading
Cautious Optimism Keeps Oil Over $60
Brent remained at over US$60 a barrel today, with WTI a bit over US$54 a barrel, but prices have begun to drag because of the prospect of further increases in Continue Reading
Oil rally looks set to run into 2018 if OPEC extends output deal – Reuters poll
Oil will likely rally into 2018 with periods of volatility as an anticipated extension of OPEC-led output restrictions offsets higher U.S. production, a Reuters poll showed on Tuesday. Analysts raised Continue Reading
Oil up near two-year highs, analysts see more U.S. crude exports
Oil prices settled higher again on Tuesday, notching a monthly gain of more than 5 percent, but analysts said bullish sentiment that has driven Brent crude to its highest in Continue Reading
Higher U.S. oil exports, Great Lakes market, pulling gas prices higher
Higher U.S. oil exports, low inventory in the Great Lakes states and higher crude oil prices means higher gas prices for U.S. consumers. Record-setting U.S. oil exports, a spike in Continue Reading
Oil prices near two-year highs as supply cuts bite
Oil prices eased on Tuesday after a week of gains as the prospect of increasing U.S. exports dampened bullish sentiment that has driven Brent to more than two-year highs above Continue Reading
Oil prices test new territory amid OPEC chatter
Crude oil prices continued to test new highs in Monday trading, supported by a growing consensus that OPEC will extend a production cut agreement in November. The price for Brent Continue Reading
Brent oil ends above $60 on expected OPEC cut extension
Brent oil closed on Monday at its highest level since July 2015 and U.S. crude closed at a peak not seen since February on expectations OPEC-led production cuts would be Continue Reading
Brent crude tries new trading range as funds stay bullish: Kemp
Hedge funds have added to bullish positions in oil and most refined products even as prices hit their highest since 2015, in a sign investors expect prices to move into Continue Reading