|Day's Range||1.7698 - 1.7698|
Oil futures finish lower on Friday, giving up earlier gains to build a loss for the week, as data showing slower Chinese economic growth fed worries about weaker demand for oil.
A new rule that sets a much lower global limit on sulfur content in marine fuel is on the horizon, leading to higher shipping costs that may ultimately force consumers to pay more for goods and to heat their homes.
The federal government's EIA report revealed that crude inventories rose by 9.3 million barrels, compared to the 4 million barrels increase that energy analysts had expected.
Oceangoing freight ships will use cleaner fuel at the start of next year, leading to higher shipping costs that may force consumers to pay more for goods and to heat their homes.
U.S. natural gas futures for the winter of 2020-2021 gained the most of any contracts on Thursday after Kinder Morgan Inc delayed the projected in service date for its $2 billion Permian Highway gas pipe in Texas to early 2021. Prices for winter gas futures rose about 3 cents to $2.73 per million British thermal units (mmBtu) in January 2021 and $2.69 in February 2021. "The Permian is expected to be the engine of natural gas production growth once again next year due to its ability to produce regardless of gas prices," Daniel Myers, market analyst at Gelber & Associates in Houston, said in a report.
Oil futures finish higher on Thursday, as U.S. and Turkey reached an agreement for a cease-fire in Syria easing tensions in the Middle East, and a tentative Brexit deal fueled a lift for assets perceived as risky. Prices shake off earlier losses on the back of a fifth straight weekly rise in U.S. crude supplies.
Oil futures on Wednesday register their first climb in three sessions, recouping much of the loss they suffered a day earlier, but worries over demand prospects remained, with prices holding onto a sizable week-to-date loss.
Oil futures fall Tuesday to post a loss for a second session in a row, as a lower economic growth forecast from the International Monetary Fund and a recent round of weak data out of China fuel worries over energy demand.
Oil has arguably been the most important commodity in human history, with everything from wars to recessions and even technological breakthroughs leading to price booms and busts
Oil futures lose around 2% on Monday, giving back much of their gains from last week, as China has reportedly asked for more talks with the U.S. before signing “phase one” of a trade deal that President Donald Trump announced on Friday.
Oil prices climb Friday to tally a gain of nearly 4% for the week as reported progress in U.S.-China trade negotiations eased worries about energy demand, and as news of an explosion on an Iranian tanker fed tensions in the Middle East.
The federal government's EIA report revealed that crude inventories rose by 2.9 million barrels, compared to the 2.4 million barrels increase that energy analysts had expected.
The Zacks Analyst Blog Highlights: ExxonMobil, ConocoPhillips, Valero Energy, Phillips 66 and Marathon Petroleum
Oil prices fall Wednesday, settling at their lowest in about two months, as downbeat U.S. economic data weighed on prospects for energy demand, and U.S. crude stockpiles registered a third straight weekly climb.
Crude-oil futures settle lower Tuesday as a reading of U.S. manufacturing activity at its lowest level in over a decade fed concerns over a slowdown in energy demand. Ecuador also announced its plan to leave OPEC, leading to expectations that it will add more oil to the world market.
Oil futures sink Monday, sending U.S. prices to their lowest settlement in a month, after reports that Saudi Aramco has fully restored production capacity that was lost to the crippling attacks on Saudi oil facilities earlier in September.
Oil futures finish lower Friday as a spate of news reports tied to Iran sanctions, a cease-fire between Saudi Arabia and Yemen, and the U.S. considering limits on investor portfolio flows into China pressured prices, contributing to a loss of nearly 4% for the week.
U.S. oil prices trim their losses on Thursday and global benchmark prices finished higher as the Pentagon announced that it would deploy equipment and personnel in support of Saudi Arabia following attacks on its oil facilities earlier this month.
The federal government's EIA report revealed that crude inventories rose by 2.4 million barrels, compared to the 190,000 barrels drawdown that energy analysts had expected.
Oil futures finish lower Wednesday as U.S. government data reveal a second weekly climb in domestic crude inventories and reports indicate Saudi Arabia continues to make rapid progress in restoring production after attacks on its facilities earlier this month.
Crude-oil futures end higher on Monday, finding support from growing tensions in the Middle East even as Saudi Arabia reportedly restores much of the output lost to attacks over a week ago that damaged its oil facilities.