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West Texas Intermediate News
West Texas Intermediate
Entire oil futures curve moves above $50 as financial confidence in crude rises
Fri, Oct 07, 2016
US oil futures held above $50 per barrel on Friday as the entire crude forward curve pushed above that level in a sign that financial markets have increasing confidence in the sector.
Oil prices dip after reaching June highs following US crude stock draw
Thu, Oct 06, 2016
Oil prices dipped on Thursday but remained near June highs reached the previous session when they were buoyed by a fall in US crude inventories. US West Texas Intermediate (WTI) crude oil futures were trading at $49.63 per barrel at 0051 GMT, down 20 cents from their last settlement.
Oil prices rise on report of US crude stock draw
Wed, Oct 05, 2016
Oil prices rose in early trading on Wednesday after a report that US fuel inventories may have fallen for a fifth straight week, but contracts remained near the $50 mark where many traders currently see fair value for crude.
Oil prices dip on surging Iran sales, but looming OPEC deal offers support
Tue, Oct 04, 2016
Oil prices dipped early on Tuesday, weighed down by a rise in Iranian exports that adds to a global supply overhang, although a planned OPEC-led supply cut later this year has lent crude some support.
Goldman Sachs cuts Q4 crude oil price forecast by $7 on supply glut
Tue, Sep 27, 2016
Goldman Sachs on Tuesday slashed its fourth quarter (Q4) 2016 oil price forecast by $7 per barrel, citing a mounting crude surplus that could outweigh any short-term price support from a potential deal among top producers to limit output.
Wall Street advances as US payrolls report falls short
Sat, Sep 03, 2016
US stocks advanced on Friday as a weaker-than-expected payrolls report tamped down expectations for a September rate hike from the US Federal Reserve, although hawkish comments from another Fed official kept expectations for one this year intact.