Crude oil fell for a second consecutive day on Thursday to hit a one-month low after an unexpected increase in U.S. inventories and on growing concerns over an oversupplied market following a rebound in oil production in Libya and Nigeria, which are exempt from OPEC's production cuts.
read more... 09/06/2017
Oil prices dropped on Monday on worries that that the cutting of connections with Qatar by the most important crude exporter Saudi Arabia and other Arab states might hamper a global accord to reduce oil production.
read more... 06/06/2017
Oil prices plunged on Friday, on fears that U.S. President Donald Trump's decision to exit a climate pact could cause more crude drilling in the United States, worsening a global glut.
read more... 05/06/2017
Oil prices increased on Thursday after a larger-than-expected domestic inventory drawdown, offering some relief amid investor uncertainty that OPEC-led reductions will be sufficient to rebalance an oversupplied market. Brent crude rose by 32 cents, or 0.64%, to settle at $50.63. Meanwhile, U.S. crude futures closed cents higher at $48.36 a barrel.
read more... 02/06/2017
Oil prices plunged by around 1% on Tuesday, on signs of resurgent crude production in Libya and worries that extended output cuts might not be sufficient to drain a global glut.
read more... 31/05/2017