Crude oil futures little changed as Saudis cut supplies to US

Crude oil futures were little changed during afternoon trade in the domestic market on Friday as investors and speculators extended their positions in the energy commodity helped by a slide in Saudi exports to the US, however, overall markets remained under pressure as world market flooded with fuel.

Further, the prices of crude oil rose after a report that Saudi Arabia's crude ex

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Crude Oil

Crude Oil on Wednesday 22nd March 2017, Crude Oil April futures prices down by 21pts closed at 3143, trading range between 3187-3130. On the New York, Mercantile Exchange, Crude oil for February delivery on the New York Mercantile Exchange to settle at $ 47.70 a barrel.

Crude prices fell on Thursday, on track for a weekly loss amid

24/03/2017 10:17:10 AM | Posted in Commodities Reports read full news
Saudi Arabia sees crude supply stable around 10 million bpd - sources

DUBAI - Saudi Arabia expects its crude oil supply to be stable at around 10 million barrels per day in the next few months, fully in line with the country's OPEC quota and regardless of possible fluctuations in monthly production, industry sources said.

Riyadh has stressed the importance of focussing on its supply rather than output as supply includes crude delive

Oil up from four-month lows, inventories curb recovery

By Edmund Blair

LONDON - Oil prices climbed off four-month lows on Thursday but the recovery was cautious with investors fretting that OPEC-led supply cuts were not yet reducing record U.S. crude inventories.

Brent crude, the international benchmark for oil, was trading at $50.84 a barrel by 0915 GMT, up 20 cents on the day and rebounding from Wednesday'

Crude oil futures rise 0.28% as demand picks up

Crude oil futures were trading higher during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the energy commodity after the overnight losses, however, supply concerns kept the gains in check.

The US Energy Information Administration (EIA) data showed that, US crude inventories rising faster than expected, piling pressure on O

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Crude Oil

Crude Oil on Wednesday 22nd March 2017, Crude Oil April futures prices down by 4 pts closed at 3164, trading range between 3104-3271.On the New York, Mercantile Exchange, Crude oil for February delivery on the New York Mercantile Exchange to settle at $ 48.04 a barrel.

The U.S. Energy Information Administration said in its weekly re

23/03/2017 9:36:55 AM | Posted in Commodities Reports read full news
Oil bounces off November lows, but bloated US stockpiles pressure market

By Henning Gloystein

SINGAPORE - Oil prices recovered on Thursday from losses chalked up the session before, but the market remained under pressure as bloated U.S. crude inventories and rising output dampen OPEC-led efforts to curb global production.

Brent crude futures, the international benchmark for oil, were at $50.82 per barrel at 0807 GMT, up 18 cents,

Venezuelans line up for gasoline as OPEC nation's oil industry struggles

By Alexandra Ulmer and Mircely Guanipa

CARACAS/PUNTO FIJO, Venezuela  - Grumbling Venezuelans were lining up for scarce gasoline across the OPEC nation on Wednesday, due to mounting oil industry woes in the country with the world's largest crude reserves.

Venezuela, which also has the world's cheapest gasoline, has wrestled with intermittent gas

Crude oil futures in reverse gear on bloated US crude storage

Crude oil futures were trading lower during afternoon trade in the domestic market on Wednesday as investors and speculators exited their positions in the energy commodity on rising crude stocks in the US despite an OPEC member countries effort’s to slash output.

The American Petroleum Institute (API) said on Tuesday that, the US crude oil inventories surged by 4.5 million barre

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Crude Oil

Crude Oil on Tuesday 21th March 2017, Crude Oil April futures prices down by 50pts (1.55%) closed at 3168, trading range between 3165-3243.On the New York, Mercantile Exchange, Crude oil for February delivery on the New York Mercantile Exchange to settle at $48.24 a barrel.

Crude prices fell on Tuesday before trimming the gains ami

22/03/2017 11:11:38 AM | Posted in Commodities Reports read full news
Oil prices slide on bulging U.S. crude inventories

By Edmund Blair

LONDON - Oil prices slipped back to three-month lows on Wednesday after data showed U.S. crude inventories rising faster than expected, piling pressure on OPEC to extend output cuts beyond June.

A deal between the Organization of the Petroleum Exporting Countries and some non-OPEC producers to reduce output by 1.8 million barrels per day (bpd

Oil prices climb on talk that OPEC could extend supply cut

By Edmund Blair

LONDON  - Oil prices climbed on Tuesday, helped by expectations that an OPEC-led output cut would be extended beyond June but gains were pegged back by concerns about persistently high crude inventories.

The Organization of the Petroleum Exporting Countries and some non-OPEC producers agreed to cut production from Jan. 1 by 1.8 million b

Crude oil futures rise 0.40% on global cues

Crude oil futures were trading higher during afternoon trade in the domestic market on Tuesday as investors and speculators extended their positions in the energy commodity on weakness in the US dollar after Chicago Fed President Charles Evans reinforced the perception that the US central bank won't accelerate the pace of its interest rate hikes.

The dollar hurt after the Fed'

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Crude Oil

Crude Oil on Monday 20th March 2017, Crude Oil March futures prices down by 27pts (0.83%) closed at 3218, trading range between 3185-3240.On the New York, Mercantile Exchange, Crude oil for February delivery on the New York Mercantile Exchange to settle at $48.91 a barrel.

Crude prices kept falling on Monday on ongoing selling press

21/03/2017 10:02:03 AM | Posted in Commodities Reports read full news
Oil prices rise on talk that OPEC could extend supply cut

By Henning Gloystein

SINGAPORE  - Oil prices rose on Tuesday on expectations that an OPEC-led production cut to prop up the market could be extended, while strong demand would also work to slowly erode a global fuel supply overhang.

Prices for front-month Brent crude futures, the international benchmark for oil, were at $51.97 per barrel at 0746 GMT, up

OPEC leans towards oil cut extension, but non-members need to be in - sources

By Rania El Gamal and Alex Lawler

DUBAI/LONDON - OPEC oil producers increasingly favour extending beyond June a pact on reducing crude supply to balance the market, sources within the group said, although Russia and other non-members need to remain part of the initiative.

The Organization of the Petroleum Exporting Countries is curbing its output by about 1.

Oil falls 1 percent as bullish bets fade with U.S. output rise

By Karolin Schaps

LONDON  - Oil prices fell more than 1 percent on Monday as investors made record cuts to bets on rising prices after strong drilling data from the United States fed concerns about the effectiveness of OPEC-led production cuts to curb a supply glut.

Benchmark Brent crude futures were down 60 cents at $51.16 a barrel at 0934 GMT. U.S. We

Crude oil futures in reverse gear on rise in US oil rigs

Crude oil futures were trading lower during afternoon trade in the domestic market on Monday as investors and speculators exited their positions in the energy commodity on rising US drilling activity, as drillers added 14 oil rigs in the week to March 17, bringing the total count up to 631. Besides, firm supplies from OPEC countries despite its pledge to cut output by almost 1.8 mbpd together w

Oil drops on rising U.S. drilling, steady OPEC supply

By Henning Gloystein

SINGAPORE  - Oil prices fell on Monday, with already-bloated markets pressured by rising U.S. drilling activity and steady supplies from OPEC countries despite touted production cuts.

Prices for benchmark Brent crude futures were 35 cents, or 0.68 percent, below their last settlement at 0646 GMT, at $51.41 per barrel.

U.S.

Oil prices steady but outlook more bearish

By Sabina Zawadzki and David Gaffen

LONDON/NEW YORK  - Oil prices were largely steady on Friday, finishing the week with modest gains, but speculators sharply cut long positions during last week's rout, on concerns that an OPEC production cut was failing to reduce a global supply overhang.

Crude traded in a narrow band this week, with Brent and West

Crude oil futures keep head above water

Crude oil futures were trading marginally higher during afternoon trade in the domestic market on Friday as investors and speculators extended their positions in the energy commodity and looked for further clues on how effectively OPEC output cuts are working to absorb a global supply overhang.

Besides, official data showed that US crude stockpiles fell by 237,000 barrels last week as

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Crude Oil

Crude Oil on Thursday 16th March 2017, Crude Oil March futures prices up by 14 pts (0.44%) closed at 3192, trading range between 3172-3245.On the New York, Mercantile Exchange, Crude oil for February delivery on the New York Mercantile Exchange to settle at $48.75 a barrel.

Crude oil prices surged higher on Thursday. Crude Prices we

17/03/2017 10:38:01 AM | Posted in Commodities Reports read full news
Oil prices mark time, set for small weekly rise

By Jane Chung

SEOUL  - Oil prices were little changed in early Asian trade on Friday as the market looked for clues on how effectively OPEC production cuts are working to absorb a global supply overhang.

Brent crude was up 5 cents, or 0.1 percent, at $51.79 per barrel at 0353 GMT, after closing the previous session down 7 cents, and was on track for a w

Crude oil futures buoy on drop in US stockpiles

Crude oil futures rose over 1 per cent during afternoon trade in the domestic market on Thursday as investors and speculators extended their positions in the energy commodity after US stockpiles eased from record highs and offered some hope that a global glut is likely to come to an end.

Further, data from the US EIA showed that US crude stocks fell last week, the first weekly decline