Oil halted gains below $50 a barrel as investors weighed falling U.S. stockpiles against speculation the recent price rally will encourage producers to raise output. Futures declined as much as 0.8% after advancing 2.3% Wednesday to the highest close in more than three months. U.S. crude stockpiles last week fell below 500 million barrels for the … More Oil advanced gains on OPEC agreement to cut production . .
Will Saudi Arabia and Iran be able to reach an output compromise? The oil market suffered some fresh hits from the Organization of the Petroleum Exporting Countries on Friday, as news reports blasted an abundant supply of comments from oil officials ahead … More OPEC talk, Crude oil waiting for action
In the near term, the market will monitor very closely the movement of the U.S gasoline and crude stock prices. Expectations for higher crude demand in the second half of 2016, coupled with a decrease in availability, are leading analysts to conclude the current bear market is only temporary, and oil prices will rise later in the … More Shake off that Deja-vu : Energy sector . .
Crude oil prices took a positive turn in early Asia trade Friday, pushed by bargain-hunting and speculative trades, but the warning’s that suspense around U.K.’s future in the European Union is still spooking investors. U.S. crude for July delivery (+1.38%) was up $0.29 or 0.6% at $46.50 a barrel on the New York Mercantile Exchange, … More Oil price trim losses, Brexit spooking the investors . .
Crude oil fell for a fifth day and the euro strengthened before Vienna meetings of OPEC and the European Central Bank. U.S. crude traded below $49 a barrel. The euro climbed to a one-week high ahead of an ECB policy review, while the British pound firmed following its steepest two-day loss since March. Saudi Arabia … More Next meeting for the Organization of the Petroleum countries..
Crude oil rallied after data showed U.S. stockpiles declined more than forecast at a time when output is shrinking in Nigeria and Venezuela.Brent crude traded above $50 a barrel for the first time since November, giving a lift to the currencies of oil-exporting nations and Asian energy stocks. European equity index futures fell as … More The oldest new mantra that drive’s the Global markets..
Gold’s making a powerful comeback. Prices have pushed above $1,300 an ounce on speculation that the U.S. central bank will be slow to tighten policy further, bolstering the metal’s appeal as the dollar sagged. Investors have piled back into bullion in 2016 after prices sank for three straight years as risks to the global economy … More Powerful comeback..
Everything at Doha was about politics. After taking over defense and economic planning, Saudi Arabia’s Deputy Crown Prince Mohammed bin Salman has now stamped his authority over oil policy.In so doing, the 30-year-old son of King Salman upended the Saudis’ decades-long approach of separating commercial from political considerations. Over the weekend, Saudi officials revoke an agreement among … More Sunday morning at Doha , what happened ?
Crude oil prices lost ground early Tuesday as traders took profit following the overnight surge, underscoring the growing mixed views that key oil producers could agree on a production freeze this Sunday. The U.S. oil benchmark settled above $40 a barrel for the first time in three weekend the global Brent benchmark touched a … More Oil dip as investors cash out . . .