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WTI crude News

02 Jan 2018

Oil hits highest since mid-2015, then dips

It was the first time since January 2014 that the two crude oil benchmarks opened the year above $60 per barrel, buoyed by large anti-government rallies in Iran and ongoing supply cuts led by OPEC and Russia.

12 Dec 2017

Oil tops $65, first time since 2015, on UK pipeline outage

Oil also gained support from expectations the latest reports on US inventories will show a further tightening of supplies.

07 Dec 2017

Oil bounces back from losses prompted by US fuel stocks

Data from the Energy Information Administration (EIA) on Wednesday showed that US crude oil inventories fell by 5.6 million barrels in the week to December 1, to 448.1 million barrels, putting stocks below seasonal levels in 2015 and 2016.

05 Dec 2017

Oil steadies above $62 per barrel, expected fall in US inventory supports

An OPEC-led producer group last week extended a supply-cutting deal through 2018, but the resulting support for prices could bolster US output which climbed to nearly 9.5 million barrels per day in September.

27 Nov 2017

US oil dips on increased drilling, but OPEC cuts support global markets

US crude production has risen by 15 percent since mid-2016 to 9.66 million barrels per day, not far from top producers Russia and Saudi Arabia, and increasing drilling activity for new production means output is expected to grow further.

21 Nov 2017

Oil eases as traders, investors grow edgy ahead of OPEC

Oil has been under pressure for the last two weeks since peaking in early November.

15 Nov 2017

Oil prices fall for fourth day after US crude stocks rise

Prices remained under pressure from this week's International Energy Agency (IEA) outlook for slower growth in global crude demand.

13 Nov 2017

Oil steady near two-year highs, US supply increase caps rise

Middle East tensions have supported the market, despite concerns that output could rise further.

08 Nov 2017

Oil dips on falling Chinese crude imports; overall market still well supported

China's October oil imports fell sharply from a near record-high of about 9 million barrels per day in September to just 7.3 million barrels per day in October, data from the General Administration of Customs showed on Wednesday.

18 Oct 2017

Oil prices rise on tighter US market, Middle East tensions

US crude inventories fell by 7.1 million barrels in the week to Oct 13 to 461.4 million barrels, the American Petroleum Institute (API) said late on Tuesday.

17 Oct 2017

Oil prices firm as Iraq tensions escalate, shares extend rally

Oil prices held near their highest levels in more than two weeks after Iraqi government forces captured the major Kurdish-held oil city of Kirkuk in a response to a Kurdish independence referendum, raising worries about oil supply.

12 Oct 2017

Oil pares losses after larger draw in US stocks

The market was still under pressure, though, from a bearish outlook by the International Energy Agency, which lowered its forecast for oil demand for 2018.

11 Oct 2017

Oil up on signs of tighter market, but 2018 looks more uncertain

Traders said they would look to the US fuel inventory data on Wednesday and Thursday for indicators on price direction.

10 Oct 2017

Oil prices stable as OPEC says market is rebalancing

Traders said that oil prices were supported as the Organization of the Petroleum Exporting Countries (OPEC) said oil markets were rebalancing fast after years of oversupply.

05 Oct 2017

Oil prices dip on record US exports, but OPEC-led supply cuts lend support

The declines came after the Energy Information Administration (EIA) said late on Wednesday that US crude oil exports jumped to 1.98 million barrels per day (bpd) last week, surpassing the 1.5 million bpd record set the previous week.

04 Oct 2017

US oil dips below $50 per barrel over doubts recent rally will last

Traders said the drops came over concerns that a third-quarter market rally that had lifted Brent to mid-2015 highs by late September had been overdone.

18 Aug 2017

Oil prices fall amid broader market selloff, despite tightening supplies

Oil traders said the crude falls came amid a selloff across many other markets, including US and Asian stocks, where investors voted with their feet amid growing scepticism US President Donald Trump, embroiled in controversy, would achieve his economic agenda.

16 Jun 2017

Oil sits near half-year lows as global supply overhang weighs

Oil prices were not far off six-month lows, held down by an ongoing supply overhang that persists despite an OPEC-led effort to cut production and prop up crude markets.

30 Mar 2017

Oil hits 3-week highs as OPEC deal extension seen likely

Oil prices jumped for a third day on Thursday to their highest in three weeks after Kuwait gave its backing for an extension of OPEC production cuts in an attempt to reduce global oversupply.

03 Jan 2017

Oil hits 18-month high as markets eye output cuts

Benchmark Brent crude jumped more than 2 percent to a high of $58.37, up $1.55 a barrel and its highest since July 2015.

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