Oil futures rose on Monday on increasing concerns about supply disruptions in the Middle East even as investors and traders fretted over global economic growth prospects amid a standoff in the Sino-US trade talks. Brent crude futures were at $71.71 a barrel by 0912 GMT, up $1.09. US West Texas Intermediate (WTI) futures were at […]
WTI
Oil price rises after surprise fall in US crude inventories
Oil futures gained on Wednesday, boosted by a surprise drawdown in US crude stockpiles, but an escalating US-Chinese trade fight limited oil’s gains as investors worried about the global outlook for energy demand. Brent crude futures rose 44 cents to $70.32 a barrel, while West Texas Intermediate (WTI) crude futures rose 57 cents to $61.97 […]
Oil prices near 2019 highs after US ends all Iran sanction exemptions
Oil prices were near 2019 highs on Tuesday after Washington announced all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran. Brent crude futures were at $74.40 per barrel at 0239 GMT, up 0.5 percent from their last close and not far off a 2019 peak of $74.52 reached on […]
Oil prices rise for a second day on signs of strong China demand
Oil prices rose for a second day on Wednesday on signs of strong demand from refineries in China, the world’s second-largest crude user, amid tightening supply as producers curtail output and as oil inventories in the United States fell unexpectedly. International benchmark Brent crude oil futures rose 21 cents, or 0.29 percent, to $71.93 a […]
WTI oil price slides under $50 per barrel
One of the world’s major oil contracts, New York’s WTI, slumped under $50 per barrel on Thursday, reaching the lowest level in nearly 14 months. WTI and Brent North Sea crude, another benchmark contract, have been tumbling for weeks on fears of a supply glut — despite oil kingpin Saudi Arabia planning an output cut […]