Oil Prices Retreat on U.S. Interest Rate Cut Delays and Increased Crude Stocks

February 28, 2024 6:43 PM

Oil Prices Retreat on U.S. Interest Rate Cut Delays and Increased Crude Stocks

Oil prices pulled back today as the prospect of delays to U.S. interest rate cuts and a rise in U.S. crude stocks offset a boost from a potential extension to OPEC supply curbs. In intra-day trade, Brent crude futures were trading around 0.85 percent lower at 82 dollars and 95 cents when reports last came in. U.S. West Texas Intermediate crude futures saw a decline of almost 0.96 percent to trade at 78 dollars and 11 cents when reports last came in.

Oil prices edged higher, Brent crude trades at 78.52 dollars per barrel

November 17, 2023 6:08 PM

Oil prices edged higher, Brent crude trades at 78.52 dollars per barrel

Oil prices edged higher today a day after sinking five percent to a four-month-low on growing worries about burgeoning non-OPEC supply and cooling demand.   In intra-day trade, Brent crude was trading at 78 dollars and 52 cents per barrel, while U.S. West Texas Intermediate crude was trading at 73 dollars and 83 cents per barrel when reports last came in.

Oil Prices gains more than 1% after continuos 3-day decline

November 2, 2023 9:21 PM

Oil Prices gains more than 1% after continuos 3-day decline

Oil prices today gained more than one percent to snap its three-day decline. In intra-day trade, Brent crude was trading at 85 dollars and 90 cents per barrel, while U.S. West Texas Intermediate crude was trading at 81 dollars and 72 barrels when reports last came in. 

Oil prices fall after rise in U.S. crude stockpiles

October 26, 2023 7:11 PM

Oil prices fall after rise in U.S. crude stockpiles

Oil prices fell today after a rise in U.S. crude stockpiles and a climb in the dollar index, giving up some ground gained a day earlier when prices jumped on fears of a broader conflict in the Middle East.   The benchmark oil contracts had settled nearly two percent higher yesterday but fell back after the Wall Street Journal reported that Israel has agreed to delay an expected invasion of Gaza for now.   In intra-day trade, Brent crude was trading at 88 dollars and 56 cents per barrel. Western ...

Global crude oil prices steady

July 12, 2023 6:09 PM

Global crude oil prices steady

Global crude oil prices were steady today. In intra-day trade, Brent crude was trading at 79 dollars and 30 cents a barrel. West Texas Intermediate crude price was at 74 dollars and 90 cents per barrel.

Oil prices steady as Chinese inflation data pointed to persistently weak demand

April 11, 2023 5:50 PM

Oil prices steady as Chinese inflation data pointed to persistently weak demand

Oil prices today steadied as Chinese inflation data pointed to persistently weak demand but a softer dollar and hopes that the Federal Reserve might ease up on its policy tightening.   In intra-day trade, Brent crude was trading at around 84 dollars per barrel, while  West Texas Intermediate (WTI) crude price was at 79 dollars and 60 cents per barrel when reports last came in. 

Oil prices drop around 1% as downward trends continued due to China's increasing cases of coronavirus

May 10, 2022 6:30 PM

Oil prices drop around 1% as downward trends continued due to China's increasing cases of coronavirus

Oil prices on Tuesday dropped around one percent as downward trends continued due to top oil importer China's increasing cases of coronavirus. A strong dollar and growing recession risks also created worries about the outlook for global demand. In intra-day trade, Brent crude was trading at around 104 dollars and 77 cents per barrel while WTI crude prices were at 102 dollars and 13 cents per barrel.

Oil prices climb around 2% on supply tightness

March 30, 2022 7:21 PM

Oil prices climb around 2% on supply tightness

Oil prices today climbed around two percent on supply tightness and the growing prospect of new Western sanctions against Russia even as Moscow and Kyiv held peace talks. In intra-day trade, Brent crude was trading around 112 dollars and 30 cents per barrel while WTI crude prices were at 106 dollars and 50 cents per barrel.