[ad_1] Oil extended a brutal selloff that’s driven prices to a four-year low as an intensifying trade war threatens to batter energy demand. Brent sank as much as 3.1% to drop below $61 a barrel, as West Texas Intermediate fell for a fifth day. While the White House said it is open to deals with […]
US oil steadies in the $60s as dour economic sentiment weighs – CNBC TV18
[ad_1] Oil in New York steadied after sinking back into the $60s-a-barrel range as a souring economic outlook threatened prospects for energy demand and spurred investors to shun risk assets including crude. West Texas Intermediate held above $69 a barrel after losing more than 2% on Tuesday for its lowest close since mid-December, with Brent […]
Oil steadies as US industry report points to big stockpile gain – CNBC TV18
[ad_1] Oil steadied after an industry report indicated a large increase in US crude stockpiles, as the market continued to watch for more trade salvos from President Donald Trump. Company Value Change %Change West Texas Intermediate traded near $73 a barrel after climbing almost 4% over the previous three sessions. Brent closed at $77. Inventories […]
Oil steadies with trade war concerns vying with pressure on Iran – CNBC TV18
[ad_1] Oil steadied as concerns that a trade war between the US and China will hurt global growth were offset by President Donald Trump ramping up economic pressure on Iran. Company Value Change %Change Brent crude traded near $76 a barrel after a rocky start to the week that saw markets whipsawed by the announcements […]
Oil steadies near November lows with outlook for demand in focus – CNBC TV18
[ad_1] Oil steadied neared its lowest level this month, with the outlook for demand in focus after OPEC cut projections again on China’s slowdown. West Texas Intermediate traded near $68 a barrel after ending little changed on Tuesday, with Brent closing below $72. OPEC shaved its demand-growth forecasts for a fourth consecutive month, yet the […]
Oil holds gains as traders gird for US vote, hurricane Rafael – CNBC TV18
[ad_1] Oil was steady after a five-day run of gains as the market monitored a tight US presidential election and Hurricane Rafael menaced production in the Gulf of Mexico. West Texas Intermediate traded near $72 a barrel after rising 0.7% on Tuesday, with Brent crude closing below $76. Rafael is threatening about 1.7 million barrels […]
Oil steadies after two-day decline on fading Middle East risk – CNBC TV18
[ad_1] Oil steadied after a two-day decline on the prospect for a further easing of hostilities in the Middle East, with the market shifting its attention to global supply balances and OPEC+’s production outlook. Brent traded above $71 a barrel after tumbling more than 6% over the previous two sessions, while West Texas Intermediate was […]
Oil climbs with Middle East risks and Chinese demand in focus – CNBC TV18
[ad_1] Oil climbed — after slumping by more than 4% on Tuesday — as Israel said it would make its own decision on how to attack Iran, keeping open the possibility that energy infrastructure may be targeted. Brent gained toward $75 a barrel, while West Texas Intermediate was near $71. Both benchmarks sank in the […]
Oil steadies with Middle East tensions and stockpiles in focus – CNBC TV18
[ad_1] Oil steadied after a two-day gain as traders assessed rising tensions in the Middle East, indications of higher US stockpiles, and the likely course of the Federal Reserve’s rate path. Brent traded near $74 a barrel after rising almost 3% over the previous two days, with West Texas Intermediate above $71. Hezbollah accused Israel […]
Oil holds losses as industry report points to US stockpile build – CNBC TV18
[ad_1] Oil held a three-day decline after an industry report signaled a second weekly increase in US crude stockpiles. West Texas Intermediate’s October contract traded near $73 a barrel after losing 5% over the previous three sessions. Brent closed above $77. The American Petroleum Institute reported crude inventories rose by 347,000 barrels last week, according […]