Crude oil prices rose to a five-month high Monday, on expectations for tighter global supply due to fighting in Libya, Opec+-led cuts and U.S. sanctions against Iran and Venezuela. International benchmark Brent futures were up 69 cents, or 1%, to $71.03 per barrel. U.S. West Texas Intermediate crude settled up 2.1%, at $64.40/Bbl, and hit its highest level since
Read More...Crude oil jumped more than 2%, to new 2019 highs Monday, with Brent crude touching $69 a barrel, after positive signs for the global economy and tighter supplies powered West Texas Intermediate and Brent prices. U.S. WTI futures settled up $1.45, or 2.4%, to $61.59/Bbl, after reaching their highest price in nearly five months, at $61.72/Bbl,
Read More...Crude oil rose sharply Tuesday as Opec+ supply cuts and expectations of lower U.S. inventories outweighed concern about weaker demand due to a potential worldwide economic slowdown. Brent crude was up 70 cents at $67.89 a barrel, not far from its 2019 high of $68.69/Bbl hit on March 21, Kallanish Energy reports. U.S. West Texas
Read More...Crude oil prices were little changed Tuesday after hitting 2019 highs earlier in the day, maintaining strength on expectations Opec+ will continue its production cuts. U.S. oil prices have risen 9% in the last six weeks, as the Opec+ supply cuts are now expected to continue through the rest of 2019. Opec+ representatives this week
Read More...Crude oil prices rose Monday, supported by the possibility of a longer-than-expected Opec+ crude supply cut and indications of inventory declines at Cushing, Oklahoma. Representatives of Opec+, the amalgamation of most Opec members along with a number of non-Opec producer-countries led by Russia, met in Azerbaijan to monitor their crude supply reduction deal. They said
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