Category Archives: brent crude

Oil Prices Rise Anew Ahead of Saudi-Led Supply Cuts

Crude oil bounced back sharply on Tuesday after Saudi Arabia provided hard numbers on its planned output cuts in January, raising optimism that OPEC and its allies were pushing ahead with their plan to drain the market of excess supply. Crude Bounces Back The West Texas Intermediate (WTI) benchmark for U.S. crude futures climbed $1.24, […]

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Oil Prices Drop Ahead of OPEC Production-Cut Figures

Oil prices faced a brisk selloff Thursday after investors caught wind of news that the Organization of the Petroleum Exporting Countries (OPEC) had agreed to reduce output by an unspecified amount. The Saudi-led cartel is reportedly waiting for Russia to come on board before declaring specific output levels for the new year. Crude Drops Both […]

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Oil Prices Surge on Trade Optimism; Qatar Exits OPEC to Focus on Natural Gas

Crude oil rose sharply on Monday, buoyed by a confluence of free-trade and production-related news following a high profile G20 summit over the weekend. The Start of a Resurgence? The West Texas Intermediate (WTI) benchmark for U.S. crude futures rose $2.11, or 4.1%, to $53.04 a barrel on the New York Mercantile Exchange. The January […]

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Oil Briefly Falls Below $50 a Barrel Ahead of G20 Summit

Crude prices returned above $50 a barrel Thursday, shrugging off an earlier fall amid reports that Russia was willing to join OPEC in a new round of production cuts. Markets remain on edge ahead of the highly anticipated Group of 20 summit in Buenos Aires, Argentina where U.S. President Donald Trump will meet Chinese counterpart […]

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Oil Prices Resume Slide amid OPEC Uncertainty

Crude oil was back on the defensive Wednesday, as rising U.S. inventories and uncertainty about OPEC production cuts undermined a modest recovery effort earlier in the week. Crude Slips The West Texas Intermediate (WTI) benchmark for U.S. crude futures fell 79 cents, or 1.5%, to $50.77 a barrel on the New York Mercantile Exchange. Prices […]

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U.S. Stocks Fall as Oil Posts Worst Drop in Over Three Years

U.S. stocks traded lower on Friday, dragged down by slumping energy shares as oil prices posted their biggest single-day drop in over three years. Cryptocurrencies notched fresh 14-month lows as the search for an elusive bottom continued. Stocks Extend Losses All of Wall Street’s major indexes finished in negative territory, with the Dow and S&P […]

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Oil Prices Recover from 13-Month Lows, but Oversupply Fears Keep Rally Subdued

Crude oil bounced back Wednesday from one of the worst selloffs of the year, though the extent of the rally was limited by persistent oversupply fears after President Trump thanked Saudi Arabia for helping to lower prices in recent weeks. Crude’s Tepid Recovery The West Texas Intermediate (WTI) benchmark for U.S. crude futures climbed 89 […]

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Oil Prices Sink to New 2018 Lows as Attention Shifts to OPEC

Crude oil was back on the defensive Tuesday, with U.S. futures prices plunging by as much as 6.2% on concerns of rising supplies and a cooling economy. A broad selloff in stocks and other risk-on assets also undercut commodity prices following a tepid recovery that stretched into Monday. Crude Prices Slump The West Texas Intermediate […]

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Oil Prices Rise Amid U.S. Dollar Correction

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex After being sold for about a month and a half, the oil price is being slightly corrected. It’s still too early to say that it has completely recovered, but little by little investors are starting to pick up the oversold asset. On one hand, these long positions, apart […]

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