Oil markets lost steam on Tuesday as a deteriorating economic outlook and a surge in U.S. production outweighed expected supply cuts by the Organization of the Petroleum Exporting Countries (OPEC). Continue Reading Below Brent crude oil futures, the international benchmark for oil prices, were at $66.43 a barrel at 0608 […]
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Oil rises on expected OPEC cuts
Oil prices rose on Monday as traders expected top exporter Saudi Arabia to push producer club OPEC to cut supply towards year-end. Continue Reading Below Despite that, markets remained wary amid deep trade disputes between the world’s two biggest economies, the United States and China. Front-month Brent crude oil futures […]
Oil rises on expected supply cuts, though US output still surges
Oil prices rose on Friday amid expectations of supply cuts from OPEC, although record U.S. production dragged. Continue Reading Below Brent crude oil futures were at $67.49 per barrel at 0747 GMT, up 87 cents, or 1.3 percent from their last close. U.S. West Texas Intermediate (WTI) crude oil futures […]
Oil rises as OPEC, partners discuss supply cut
Oil rose on Wednesday, recouping some of the previous session’s slide, on the growing prospect of OPEC and allied producers cutting output at a meeting next month to prop up the market. Continue Reading Below Prices rallied towards $67 earlier in the session after Reuters reported OPEC and its partners […]
Oil falls after Trump calls on OPEC not to cut supply
Oil prices fell by around 1 percent on Tuesday, with Brent crude sliding below $70 per barrel and WTI below $60, after U.S. President Donald Trump put pressure on OPEC not to cut supply to prop up the market. Continue Reading Below The fall also came as the U.S.-dollar hovered […]
Oil rises after Saudi warns weaker demand may warrant output cut
Oil rose by more than 1 percent on Monday, set for its largest one-day increase in a month after Saudi Arabia said OPEC and its partners believed demand was softening enough to warrant an output cut of 1 million barrels per day. Continue Reading Below Saudi Arabia, the world’s largest […]
US judge halts construction of Keystone XL pipeline
article (Jeff McIntosh/The Canadian Press via AP, File) A federal judge in Montana halted construction of the Keystone XL oil pipeline on Thursday on the grounds that the U.S. government did not complete a full analysis of the environmental impact of the TransCanada project. Continue Reading Below The ruling deals a major […]
Oil prices fall into bear market on rising supply
Oil markets on Friday remained weak as rising supply and concerns of an economic slowdown pressured prices, with U.S. crude now down by around 20 percent since early October. Continue Reading Below U.S. West Texas Intermediate (WTI) crude oil futures were at $65.60 per barrel at 0509 GMT, down 4 […]
Oil rises on China record crude imports
Oil prices rose on Thursday after record Chinese crude imports eased concerns that a slowdown in the world’s No.2 economy could stoke an emerging fuel glut. Continue Reading Below However, oil markets were held back somewhat after the United States became the world’s top crude producer as its output hit […]
21st Century Fox quarterly EPS up 6%, revenue rises 2%
(Reuters) – Twenty-First Century Fox Inc fell short of estimates for quarterly revenue on Wednesday, hit by the absence of a major movie hit at the end of the U.S. summer as it prepares to sell the bulk of its business to Walt Disney Co. Continue Reading Below Murdoch agreed […]