oil prices – Page 48 – Oil & Gas 360

Oil prices will climb above $100 a barrel if Iran blocks the Strait of Hormuz, analysts predict

January 8, 2020

CNBC Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday. Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants increasingly concerned that the fallout could soon disrupt regional crude supplies. Source: CNBC It has thrust the world’s most important

Oil prices fall as alarm over Iran rocket strike fades

January 8, 2020

Reuters LONDON – Brent oil futures fell on Wednesday from a four-month peak hit in frenzied early trading after a rocket attack by Iran on American forces in Iraq appeared to have no impact on oil infrastructure or crude flows. Tweets by U.S. President Donald Trump and Iran’s foreign minister also seemed to signal a period of calm – for

Oil holds above $60 as U.S. crude stockpiles seen shrinking

December 27, 2019

Houston Chronicle Oil held above $60 a barrel before U.S. government data forecast to show that crude stockpiles declined again, mitigating concerns that global markets face a renewed surplus next year. Futures rose 0.4 percent in New York. American crude inventories fell by 1.7 million barrels last week, according to a Bloomberg survey before Energy Information Administration data on Friday

Oil hovers near three-month highs on trade progress, lower inventories

December 19, 2019

Reuters LONDON – Oil prices hovered near three-month peaks on Thursday, buoyed by falling U.S. crude inventories and thawing trade relations between the United States and China. Brent crude futures were up 19 cents at $66.36 a barrel at 1447 GMT, heading for their sixth straight day of gains. U.S. West Texas Intermediate (WTI) crude rose 7 cents to $61.00

Oil touches $61 for first time in 3 months as optimism abounds

December 18, 2019

Houston Chronicle Oil briefly touched $61 a barrel for the first time in three months as strengthening outlooks for manufacturing and trade buoyed demand prospects. Futures closed 1.2% higher on Tuesday in New York, just 6 cents shy of the $61 mark, after surpassing it earlier and extending the advance to a fourth straight session. U.S. factory production has rebounded

Oil steadies on U.S. crude inventories fall, demand hopes

December 18, 2019

Reuters: NEW YORK (Reuters) – Oil prices steadied on Wednesday after U.S. government data showed a decline in crude inventories and on expectations for an uptick in demand next year on the back of progress in resolving the U.S.-China trade fight. Brent futures LCOc1 gained 17 cents to $66.27 a barrel by 12:23 p.m. EST, while U.S. West Texas Intermediate

Oil nears three-month high as trade hopes, UK election lift sentiment

December 13, 2019

Reuters NEW YORK – Oil rose on Friday to its highest in nearly three months as investors cheered progress in resolving the U.S.-China trade dispute and a decisive general election result in Britain. China’s Vice Finance Minister said the first phase of trade negotiations achieved major progress and Beijing has decided to cancel tariffs scheduled to take effect on Sunday.

Oil steadies above $64 as trade hopes offset U.S. inventories

November 27, 2019

Reuters LONDON – Oil steadied above $64 a barrel on Wednesday as an industry report showing a surprise boost in U.S. crude inventories was offset by optimism about a U.S.-China trade deal being agreed soon. Oil industry group the American Petroleum Institute on Tuesday said U.S. crude inventories rose by 3.6 million barrels, compared with analysts’ expectations for a decrease.

Oil holds near two-month high on OPEC+ extension expectations

November 22, 2019

Reuters LONDON – Oil prices held near two-month highs on Friday, set for a third consecutive week of gains on expectations of an extension to OPEC+ production cuts, though concern over U.S.-China trade talks continue to hang over the market. Source: Reuters Brent crude futures LCOc1 eased 13 cents to $63.84 a barrel by 1442 GMT and West Texas Intermediate

Oil prices rise on Middle East tensions but trade tensions weigh

November 20, 2019

Reuters LONDON – Oil edged higher on Wednesday as Iran-related tensions escalated but receding hopes for a quick solution to the U.S.-China trade war which has dented global growth dragged on prices. West Texas Intermediate crude futures CLc1 traded up 23 cents, or 0.42%, to $55.44 a barrel by 1225 GMT. Brent crude futures LCOc1 were at $61.23 a barrel,

Oil prices fall about $1 on trade talks uncertainty

November 18, 2019

Reuters HOUSTON – Oil prices eased on Monday, giving up some of last week’s gains and edging lower alongside U.S. stocks on uncertainty over a trade deal between the United States and China. Concerns about plentiful crude supplies in 2020 also weighed on the market, which expects OPEC to extend production cuts in early December to help avoid a new

U.S. crude oil inventories increase by 1.6 million barrels- oil and gas 360

Oil prices gain 2% despite concerns about rising supplies

November 15, 2019

Reuters NEW YORK – Oil futures gained nearly 2% on Friday as comments from a top U.S. official raised optimism for a U.S.-China trade deal, but worries about increasing crude supplies capped prices. Benchmark Brent crude rose $1.04, or 1.7%, to $63.32 a barrel, while West Texas Intermediate crude rose 96 cents, or 1.7%, to $57.73 a barrel. Brent and

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