|Day's Range||2.0749 - 2.0953|
All eyes are on the oil producers' meeting set for Jun 22 in Vienna, which will decide what happens next regarding their supply curb policy.
Investing.com – WTI crude oil prices settled higher buoyed by data showing a massive draw in U.S. crude supplies for the second-straight week and investor expectations major oil producers may opt for a modest output hike at a meeting this week.
(Reuters) - U.S. crude oil stockpiles dropped sharply last week while gasoline and distillate inventories grew as refineries' crude runs rose to their highest on record seasonally, the Energy Information ...
U.S. crude oil stockpiles dropped sharply last week while gasoline and distillate inventories grew as refineries' crude runs rose to their highest on record seasonally, the Energy Information Administration ...
Oil prices settled with a loss Tuesday on expectations that OPEC and other major oil producers will announce a decision later this week to raise production. West Texas Intermediate crude for July delivery (CLN18.NYM) lost 78 cents, or 1.2%, to settle at $65.07 a barrel on the New York Mercantile Exchange, giving back all but a penny of Monday’s 1.2% gain. OPEC members and a group of non-cartel producers led by Russia are expected to increase production at the meeting, but the main producers appear to disagree on the size of an increase, according to media reports.
Investing.com - Oil prices saw mixed signs in midmorning trade on Tuesday as disagreements among major producers over output curbs continued ahead of a key meeting in Vienna on Thursday and Friday.
Brent, WTI crude prices recoup some of Friday’s lossesMunshi Ahmed/BloombergCommodities traders are focusing on tariff-related tensions and a coming OPEC meeting. Oil prices finished higher on Monday to recoup some of their recent losses, as traders assessed escalating trade tensions between the U.S. and China. July West Texas Intermediate crude (CLN18.NYM) rose 79 cents, or 1.2%, to settle at $65.85 a barrel on the New York Mercantile Exchange, after losing 2.7% on Friday and posting a loss of 1% last week.
Investing.com - Oil prices bounced off two-month lows hit earlier on Monday after reports that the contemplated increase in output by Saudi Arabia and Russia may be less than originally feared.
___ A trade war looms as Trump slaps tariffs on Chinese imports President Donald Trump brought the world's two biggest economies to the brink of a trade war by announcing a 25 percent tariff on up to $50 ...
Natural gas prices moved higher on Wednesday rising 0.75% but remaining in an uptrend. Wednesday’s demand forecast for distillates showed declining demand for heating oil. Inflation was hotter than expected mainly because of a rise in petroleum and natural gas. Total products demand over the last month averaged more than 20.4 million barrels per day, up by 1.7% from the same period last year.
From June 1–8, US crude oil July futures fell 0.1%. On June 8, they settled at $65.74 per barrel. Last week, the US dollar fell 0.7%, a positive development for oil prices. The PowerShares DB US Dollar Bullish ETF (UUP), which tracks the US dollar, fell 0.6% last week.
Crude oil futures decreased 0.03% to $65.72 a barrel as of 11:01 AM ET (15:01 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., fell 0.64% to $75.97.
Venezuela is nearly a month behind on delivering crude to customers, according to Reuters. The country is in the midst of an economic crisis and faces threats of U.S. sanctions.
U.S. crude oil inventories jumped last week as production hit record highs, the EIA said on Wednesday in a majorly bearish report.
Investing.com – WTI crude oil prices settled 1.2% lower on data showing a surprise build in U.S. crude supplies and an ongoing expansion in U.S. output to a record.
U.S. crude oil stockpiles rose unexpectedly last week even as refineries hiked output to the highest in five months, while gasoline stocks increased sharply as demand eased, the Energy Information Administration ...
Crude oil futures increased 0.48% to $65.06 a barrel as of 4:36 AM ET (8:36 GMT). Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., inched up 0.15% to $75.40.
Last week (May 25–June 1), US crude oil July futures fell 3%. On June 1, US crude oil July futures settled at $65.81 per barrel—their lowest closing level since April 10. The US dollar was almost unchanged last week—a steadying factor for oil prices as the US dollar’s recent rise has pressured them. The PowerShares DB US Dollar Bullish ETF (UUP), which tracks the US dollar, was also unchanged.
Investing.com - Oil prices were slightly higher in early morning European trade on Friday as investors continued to weigh record levels of production from the U.S.
Prices could remain rangebound today as investors continue to adjust to the new price levels and as they continue to assess the current supply/demand situation. Barring any major announcements over the near-term, crude is likely to drift sideways-to-lower until the OPEC meeting on June 22.
The Trump administration's announcement that it will impose tariffs on steel and aluminum imports from Europe, Mexico and Canada has drawn swift vows of retaliation from key allies, inflamed trade tensions and sent stock markets sinking. DETROIT (AP) -- Two technology giants have announced major new investments in self-driving vehicles, bringing the world a step closer to a time when autonomous cars are a part of everyday life. Japanese technology investor SoftBank announced Thursday that it would spend $2.25 billion for a 20 percent stake in General Motors' autonomous vehicle business.
Investing.com – WTI crude oil prices settled more than 2% lower despite a massive draw in U.S. crude supplies as domestic output continued to expand.
On the Earth’s surface, temperatures can swing from blistering hot to freezing cold. But dig a few hundred feet below ground, and the temperature is stable at between 10°C and 16°C (50°F and 60°F). The technology to tap that energy to heat or cool homes has been around for 70 years, but it’s only in…
Investing.com - Oil prices were holding near six-week lows on Tuesday as U.S. investors returning from the long holiday weekend weighed the possibility of the Organization of Petroleum Exporting Countries and Russia ceasing curbs on production levels, while increasing U.S. shale output also dampened sentiment.