Crude oil prices diverged slightly on Tuesday. Brent crude was almost flat at $61.59 a barrel amid signs that U.S.-China trade differences might temper in November and on expectations for a draw in the U.S. refined product inventories. In the meantime, predictions of a rise in the U.S. crude stocks and Russia’s reserved outlook for a potential crude output extension by OPEC+ pushed WTI futures 0.5% lower at $55.54 a barrel.
read more... 30/10/2019
Oil prices lost momentum on Monday, as traders expected a rise in the U.S. crude inventories. Moreover, the outlook for the global crude demand dimmed further because of pessimistic industrial data in China, weighing on the market sentiment. Consequently, Brent crude inched down by 0.7% to $61.57 a barrel, while WTI futures dropped by 1.5% to $55.81 a barrel.
read more... 29/10/2019
Oil prices were bullish on Friday following an unpredicted fall in U.S crude inventories. Brent crude gained 0.6% to close at $62.02 a barrel. WTI futures added 0.8% to end at $56.66 a barrel.
read more... 28/10/2019
Crude oil prices continued to rise on Thursday after a surprise fall in the U.S. crude stockpiles last week. Hopes for deeper supply cuts from OPEC also supported prices. However, persistent crude demand worries reduced gains. Consequently, Brent crude traded 0.8% higher at 61.67 USD/bbl. At the same time, WTI futures edged up by 0.5% at 56.23 USD/bbl.
read more... 25/10/2019
Crude oil prices extended gains on Wednesday, following a drop in U.S. crude inventories and due to OPEC’s intention to deepen supply cuts. However, slowing global demand might limit the rise. Hence, Brent crude surged by 2.5% to 61.17 a barrel, while WTI futures climbed by 2.7% to end at $55.97 a barrel.
read more... 24/10/2019