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US oil futures News
US oil futures
Oil prices struggle on doubts OPEC can rein in oversupply
Thu, Jun 15, 2017
"Production growth in Libya and Nigeria and continued rig additions in U.S. are complicating the picture, raising doubts on OPEC`s strategy. For OECD inventories to return to the normalized levels, OPEC needs to drain by 34 million barrels a month or 1 million barrels for the next 10 months. This looks challenging," AB Bernstein said.
Oil markets remain cautious on record supplies
Fri, Apr 21, 2017
Oil opened the last day of a choppy trading week on a cautious note over doubts that an OPEC-led production cut was having the desired effect of restoring balance to a market that has been dogged by oversupply for more than two years.
Oil prices mixed after U.S. production seen rising
Tue, Apr 18, 2017
Crude oil prices were mixed in thin trading on Tuesday after the Easter holiday break shut many markets for as long as four days and a U.S. government report indicated rising production, which may keep a cap on prices after recent gains.
Crude oil eases for second day on rising U.S. inventories
Thu, Apr 13, 2017
Crude oil futures slid for a second session on Thursday, moving away from a one-month high touched in the last session as rising U.S. inventories stoked worries about global oversupply.
Oil prices rise on prospect that Saudi Arabia seeking output cut extension
Wed, Apr 12, 2017
Oil prices rose on Wednesday, putting crude futures on track for their longest streak of gains since August 2016, as Saudi Arabia was reported to be lobbying OPEC and other producers to extend a production cut beyond the first half of 2017.
Oil hits 5-week top on geopolitical tensions, strong demand
Tue, Apr 11, 2017
Crude oil climbed to a five-week high on Tuesday, with prices underpinned by tensions following a U.S. missile strike on Syria and a shutdown at Libya`s largest oilfield. Additional support also came from expectations of strong demand as the U.S. summer driving season kicks in.
Oil prices up in quiet session as year-end approaches
Fri, Dec 23, 2016
Oil prices rose in subdued trading on Thursday, supported by strong U.S. economic data and optimism that crude producers would abide by an agreement to limit output.
Oil prices fall after Fed hike, but tighter market looms
Thu, Dec 15, 2016
Oil prices dropped on Thursday as a hike in U.S. interest rates drove money away from commodities and into U.S. bonds and the dollar, but a tighter fuel market looms in 2017 due to planned production cuts led by OPEC and Russia.
Oil prices extend rally, shrug off U.S. stock build
Wed, Nov 16, 2016
Oil futures rose on Wednesday, shrugging off an industry report that showed an unexpected build in U.S. crude stocks, and adding to gains of nearly 6 % from the previous session.
'Fat-finger' error seen as sterling slumps; Asian shares dip
Fri, Oct 07, 2016
Sterling plunged to a three-decade low in thin early Asian trade on Friday as a break of key technical support levels triggered a wave of stop-loss orders.
Oil prices fall on high production despite planned OPEC output cut
Mon, Oct 03, 2016
Oil prices fell away from $50 per barrel on Monday despite an agreement last week by exporters to cut output, with traders doubting the step was enough to rein in production that has exceeded consumption for the better part of three years.
Oil prices down on profit-taking after rising 7% in past two sessions
Fri, Sep 30, 2016
NYMEX crude for November delivery was down 8 cents at $47.75. It settled up 78 cents on Thursday, after touching a one-month high of $48.32 earlier.
Oil prices drop on returning Libya, Nigeria supplies
Fri, Sep 16, 2016
Oil prices fell on Friday on worries that U.S. rig counts would continue to rise and that returning Libyan and Nigerian exports would stoke a global supply glut.