Energy Financial

Oil prices recover from 10-month lows, but crude glut still weighs

Oil prices recover from 10-month lows, but crude glut still weighs

Oil prices up after “pushed a bit too low”: Energy economist Oil prices rose on Thursday after dropping to 10-month lows on Wednesday, but market sentiment remains down due to the stubborn global crude supply glut that continues despite OPEC’s supply cut agreement. Brent crude futures ended the day 40 cents to $45.22/barrel, after falling […]

Oil prices fall despite drop in US crude stocks

Oil prices fall despite drop in US crude stocks

Oil prices headed for weakest performance for first six months of a year since 1997 Oil prices fell about two per cent to a 10-month low in heavy trading on Wednesday despite data from the US Energy Information Administration that showed a drop in US crude and gasoline inventories. Brent crude futures ended the day […]

Oil prices: Brent to seven-month lows, US crude to nine-month lows

Oil prices: Brent to seven-month lows, US crude to nine-month lows

Oil prices down about 2 per cent Tuesday Oil prices fell about 2 per cent on Tuesday as investors’ concerns about over supply overshadowed news of high compliance with the OPEC supply cut deal. Brent settled at seven-month lows and US crude dropped to its lowest value since September, 2016. At the end of the […]

Oil prices fall to seven month low on oil glut concerns

Oil prices fall to seven month low on oil glut concerns

Analysts concerned flailing oil prices up odds of reduced OPEC compliance Oil prices fell about one percent on Monday, continuing their bumpy ride on the market since late May when prices dropped 13 per cent on rising production in the United States, Libya and Nigeria that overshadowed the OPEC supply cut agreement. Brent futures for […]

Oil prices edge up on Friday, but supply glut concerns market

Oil prices edge up on Friday, but supply glut concerns market

Oil prices up slightly from 2017 lows On Friday, oil prices rose slightly after some producers said they were cutting back on exports, despite the uptick, the market fell for a fourth straight week of losses as investors could not shake concerns about the global glut of crude. Oil prices hit six-month lows on Thursday […]

Oil prices fall to six-month lows on near record high crude inventories

Oil prices fall to six-month lows on near record high crude inventories

Oil prices show “little in the way of upside potential”: Analyst On Thursday, oil prices fell to their lowest in six months as investors grew more concerned about high global inventories and questioned OPEC’s ability to follow through on pledged production cuts. Prices recovered slightly as trading continued, but a rise in the US dollar […]

Oil prices drop to seven-month low on surprise US gasoline stock build

Oil prices drop to seven-month low on surprise US gasoline stock build

Oil prices dragged down by gasoline futures Oil prices fell by nearly four per cent in trading on Wednesday to land at their lowest since November, after the US Energy Information Administration released data showing a surprise increase in US gasoline inventories. As well, the International Energy Association issued a report on Wednesday forecasting a […]

Oil prices tick up as Saudis cut exports to Asia, US

Oil prices tick up as Saudis cut exports to Asia, US

Oil prices up slightly in Tuesday trading Oil prices rose slightly on Tuesday after OPEC detailed global supply cuts, but increases were limited as the cartel reported an overall increase in production in May and admitted that the rebalancing of the market was moving at a slower pace than earlier anticipated. Brent crude was up 43 cents to $48.72/barrel […]

Oil prices up on possible US inventory declines, lower Saudi exports

Oil prices up on possible US inventory declines, lower Saudi exports

Oil prices up almost 1 per cent Monday Oil prices rose almost 1 per cent in Monday trading as investors learned of a possible decrease in United States crude stocks and Saudi Arabia’s plan to limit crude exports to some Asian buyers and deeper cuts to the US in July. Brent crude futures were up 20 cents to […]

Oil prices tick up on Nigerian pipeline damage

Oil prices tick up on Nigerian pipeline damage

Oil prices up Friday, but post weekly declines Oil prices rose slightly in Friday trading after a Nigerian oil pipeline was shut down after rebels drilled a hole into the line.  Despite the bump on Friday, crude ended the week down nearly 4 per cent on concerns of the global oversupply. Brent crude settled up by 29 […]