Oil shot up over 10 percent after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede Continue Reading
The oil price rally sparked by an OPEC-Russia deal to cut output is likely to be short-lived, say traders in Asia, because the agreement may only draw more supplies from Continue Reading
Oil storage Gasoline prices in the U.S. did not get swept up by the 10-percent rally in crude yesterday following OPEC’s decision to cut production, with the average price per Continue Reading
The price of Brent crude, the international benchmark for oil prices, jumped above $52 a barrel on Thursday after the Organization of the Petroleum Exporting Countries agreed to cut production Continue Reading
Oil shot up over 10 percent after producer club OPEC and Russia cut a deal to reduce output to drain a global supply glut, but analysts warned prices could recede Continue Reading
Oil-linked currencies were the day’s biggest gainers as crude surged on reports OPEC had clinched a deal to limit supply. Colombia’s peso and Russia’s ruble were the best emerging-market performers, Continue Reading
After jumping the most in nine months, oil is expected to climb further after OPEC beat the odds to agree on an output cut. Just don’t expect the rally to Continue Reading
Oil prices may break above $60 a barrel if OPEC and Russia fully adhere to their promises to pump less, says Goldman Sachs Group Inc. West Texas Intermediate could rise Continue Reading
Crude futures rebounded in Asia, though sentiment remains bearish that the Organization of the Petroleum Exporting Countries will deliver an agreement later today on production cuts. An OPEC deal would Continue Reading
Oil rallied from a two-week low after Iraq said it’s ready to reduce production and OPEC ministers are unanimously in favor of a supply cut as ministers meet for a Continue Reading
