OPEC-fueled rally in oil prices spills into October
Market sentiment prevailed over analyst pessimism to carry a rally sparked by the latest maneuvering from OPEC into the first trading day for October. Crude oil prices are up more Continue Reading
Oil Rises to Three-Month High as Investors Assess OPEC Agreement
U.S. drillers add rigs for 5th consecutive week: Baker Hughes Iran seeking export boost to 2.35 million b/d in coming months Oil climbed to the highest level in three months Continue Reading
Oil Bulls Rewarded as Crude Surges After OPEC Output Accord
Oil investors’ bullish bets on last week’s OPEC meeting paid off. While most analysts weren’t expecting a deal, money managers increased wagers on rising prices by the most since January Continue Reading
Natural Gas Prices Fall as Temperatures Seen Easing From High Levels
Natural gas prices fell on Thursday, as expectations that cooler weather is approaching outweighed a bullish inventory report. The U.S. Energy Information Administration reported stockpiles rose by 49 billion cubic Continue Reading
Oil prices extend rally into third straight session
Market reaction to OPEC production offer extends into third day against a backdrop of more supplies coming to an economic showing only modest signs of growth. File photo by Monika Continue Reading
Oil Slips as Doubts Grow Over OPEC Deal
Oil futures fell Friday as investors cashed in their recent gains and skepticism grew over a tentative agreement to cut production among members of the Organization of the Petroleum Exporting Continue Reading
Oil Drops as Prospects Fade for OPEC Deal
Pipelines at the Zueitina oil terminal in Libya. OPEC members Nigeria, Libya and Venezuela want… Oil prices fell Tuesday as hopes for any deal between the Organization of the Petroleum Continue Reading
Oil prices fall as Venezuela says market is 10 percent over supplied
Oil prices fell on Tuesday after Venezuela said that global crude supplies needed to fall by 10 percent in order to bring production down to consumption levels, confirming analyst views Continue Reading
Oil Prices Rise on Libya Unrest
Oil prices edged higher Monday after fighting engulfed Libya’s key Eastern crude-oil ports over the weekend. Brent crude for November delivery rose 1.14% to $46.28 a barrel on London’s ICE Continue Reading
Venezuela says global oil supply exceeds demand by 10 percent
Global oil supply of 94 million barrels per day needs to fall by about a tenth if it is to match consumption, Venezuela’s Oil Minister Eulogio Del Pino said on Continue Reading