Oil turned to losses as the trading day approached its close on Thursday as OPEC cuts failed to outpace the increase in crude output in the United States.
Brent for May was 0.22% in the red at $50.54 per barrel at 7:32 pm CET. May futures of West Texas Intermediate traded 0.75% lower for...
Oil prices dropped 3% on Wednesday after the Energy Information Agency (EIA) announced that the number of inventories in the United States increased for the ninth week in a row. EIA said the inventories increased by 8.2 million barrels in the past week.
West Texas Intermediate (WTI) for...
The stability of the oil market is “one of the central pillars of a well-functioning global economy,” OPEC Secretary General Mohammad Barkindo said in London on Tuesday.
Speaking at the International Petroleum Week, Barkindo praised the output cuts agreed upon by OPEC member states and 11...
Oil prices continued to rise on Thursday following reports that key members of OPEC were cutting on production and a strong demand growth in China. OPEC agreed in November to cut oil production in an effort to scale down a global supply excess that has brought down prices significantly for over...
Energy prices traded slightly in the red on Wednesday as investors remained focused on the implementation of global oil output cuts expected in 2017. Following a similarly flat trend during trade in Asian markets, trading in the energy sector also remained weak amid a holiday season in the West.
The...
Major markets in the United States opened slightly higher on Monday, following the latest data on inflation and personal consumption. Personal spending was 0.3% higher in July, and personal consumption expenditures price index rose 0.1%.
The Dow Jones Industrial Average added 0.18%,...
Stock markets across Europe saw a day of high gains. The inspiration came from Japan where Nikkei 225 jumped almost 4% after the election victory of incumbent prime minister's liberal democrats. PM Shinzo Abe (pictured) promised more 'Abenomics' measures, and was set to award the markets with...
Prices of crude oil began recovery on Friday as most of the stock markets in Europe opened for trade at 9:00 a.m. CET but were still off 2016 highs. Oil inventories around the world still put downward pressure of prices, and outlook for demand for crude oil and petroleum products looks uncertain with...
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