Crude oil prices retreated from two-month highs on Friday, dragged down by uncertainty over U.S.-China trade talks, shading expectations for an extension to production reductions by OPEC and its allies. Brent crude for January delivery lost 58 cents or 0.9% to settle at $63.39 per barrel, posting a slight gain for the week. The WTI crude fell by 1.4% to close at $57.77 per barrel.
read more... 25/11/2019
Crude oil prices traded higher on Thursday reaching their highest level in two months, as OPEC and its allies will most probably extend oil supply cuts until June. The news about China’s intention to invite U.S. to a second round of trade negotiations also supported the bullish trend. Hence, Brent crude rose by 2.5% to $63.97 a barrel. WTI futures climbed 2.8% to $58.58 a barrel.
read more... 22/11/2019
Oil prices increased on Wednesday following a report indicating that U.S crude inventories rose lower than expected. Moreover, Russia promised to continue its cooperation with OPEC to maintain a balanced oil market. Brent crude jumped by 2.5% to $62.40 a barrel. WTI crude climbed by 3.3% to $57.01 a barrel.
read more... 21/11/2019
Oil prices declined on Tuesday on worries about crude oversupply and slow evolution in resolving the U.S- China trade war. Brent crude dropped by 2.5% to $60.91 a barrel. WTI futures fell by 3.2% to $55.21 a barrel.
read more... 20/11/2019
Oil prices lost ground on Monday amid uncertainty over a trade agreement between the U.S. and China. Furthermore, worries about crude oversupply also put pressure on oil contracts. Brent crude dropped by 1.4% to $62.44 a barrel and WTI futures fell by 1.1% to $58.05 a barrel.
read more... 19/11/2019