Oil in London headed for a second weekly decline as investors tried to gauge whether OPEC and its allies will ease production caps at what’s set to be a contentious meeting next week.
It’s tough to stay positive on crude when the world’s three oil superpowers are likely to increase production.
Long-established relationships between the world’s most important oil prices are being strained by conflicting forces across the globe.
Oil’s rally to its highest level since 2014 was curtailed this month after two of the world’s biggest crude suppliers signaled they may scale back historic output cuts that helped drain a global glut.
Oil held losses below $67 as global risk assets slid on renewed trade tensions between the U.S. and China as well as political turmoil in Europe, with concerns simmering that OPEC may ease its output curbs.
Oil rebounded from the biggest loss in more than a week as OPEC hinting at extending output cuts fanned optimism and investors anticipated a drop in U.S. stockpiles.
Brent held near $70 a barrel after Saudi Arabia intercepted multiple ballistic missiles fired by Houthi forces in Yemen.
China launched its first ever crude-futures contract as the world’s biggest oil buyer seeks to wield greater power over pricing and challenge benchmarks in the U.S. and Europe.
Oil is poised for its first monthly decline in six months as a rally at the start of the year fades on growing fears over booming U.S. shale supply.
Oil headed for a second weekly increase as a surprise pullback in U.S. crude inventories compounded signs that a global glut is easing.
Brent crude fell from a two-week high as the market weighed forecasts for a surge in U.S. production against OPEC’s success in accelerating the pace of draining a global glut.
Oil shook off some of the fears that had rattled the market to extend gains above $62 a barrel as the dollar weakened and global equities rebounded from a rout.
Oil headed for its first weekly gain this month as a weaker dollar boosted the allure of commodities priced in the U.S. currency.
Oil is being held back after its worst week in two years as fears over rising U.S. crude supplies curb investor optimism.
While oil is rebounding from its biggest weekly decline in two years, a surge in U.S. shale still looms over the market.
Oil was headed for its worst week in almost a year as the global risk-asset rout troubled investors already concerned over growing U.S. supply.
Oil prices fell back suddenly over the last few trading sessions, dragged down by some forces beyond the oil market.
Oil is set for the longest losing streak in two months as a global rout sparked by a plunge in U.S. equities bled into Asian hours, dragging down everything from commodity markets to energy stocks.
Oil’s slowing down as danger signs flash ahead.
Oil headed for a weekly increase as U.S. crude stockpiles dropped further and the nation’s currency weakened.
Brent crude rose above $71 per barrel earlier today for the first time since 2014 thanks to a drop in US oil stocks.
Oil continued to slide from a three-year high on speculation that a record long position built up by money managers leaves prices vulnerable to a pullback.
A leading oil economist has warned that a worldwide drop in crude prices could impact on future North Sea projects designed to maximise recovery from the UKCS.
Hedge funds jumped out of the oil market just in time.
The long wait may finally be over.