Crude oil prices rose on Thursday to extend gains from the previous session after official government data showed U.S. stockpiles had eased from record highs. Prices surged on Wednesday after Continue Reading
Oil prices rose Wednesday, snapping a week-long losing streak, as a drop in U.S. stockpiles supported a rally from Tuesday’s three-month lows. Light, sweet crude for April delivery settled up Continue Reading
Buy oil now, and count on Saudi Arabia for support, according to Citigroup Inc. OPEC’s output cuts aimed at easing a global glut are “real” and is cleaning up the Continue Reading
Oil rebounded above $48 a barrel amid a reported decline in U.S. crude stockpiles as the International Energy Agency said the market needs time to drain a global inventory glut. Continue Reading
Oil prices rebounded from three-month lows on Wednesday after industry data showed a surprise drawdown in U.S. crude stockpiles and as Goldman Sachs put a positive spin on OPEC’s compliance Continue Reading
For traders who were paying attention, the weekly COT (Commitments of Traders) reports from the CFTC (U.S. Commodity Futures Trading Commission) have recently been screaming out a warning…crude oil bear Continue Reading
Global oil markets are gradually rebalancing, but progress has been slower and more uneven than the Organization of the Petroleum Exporting Countries and bullish hedge funds expected. OPEC as well Continue Reading
1. Shale The US shale industry has come back with a bang, with oil prices back above $50 a barrel. After two years of contraction, the US Energy Information Administration Continue Reading
The possibility of OPEC deciding to extend the deadline of its November 30 oil output cut agreement is growing, according to one former senior U.S. energy official. Former Assistant Secretary Continue Reading
A drop in crude oil prices was a relief for U.S. consumers who saw retail gas prices drop in kind, but the relief may be short-lived, a market analysis finds. Continue Reading
