Himanshu's Feed
May 27, 2015

Oil rebounds on expected U.S. stock draw, weaker dollar

LONDON (Reuters) – Crude futures rose about 1 percent on Wednesday to recover some ground after steep drops in the previous session, boosted by a weaker dollar and expectations that U.S. crude stocks fell for a fourth straight week.

July Brent crude LCOc1 gained 64 cents to $64.36 a barrel by 0851 GMT, while U.S. crude CLc1 was up 68 cents at $58.71 a barrel.

May 25, 2015

Oil prices dip below $65 as dollar strengthens

LONDON (Reuters) – Crude oil futures dipped below $65 a barrel as the dollar strengthened on Monday, with a public holiday in the United States and much of Europe keeping oil trading volumes muted.

Front-month Brent crude fell 62 cents to $64.75 a barrel by 0828 GMT. U.S. crude was down 46 cents at $59.26 a barrel.

May 20, 2015

Oil prices rise as U.S. crudes stocks fall

LONDON (Reuters) – Crude oil prices bounced back on Wednesday from steep falls in the previous session as government data showed that U.S. crude stocks fell last week for the third straight week.

U.S. crude inventories fell by 2.67 million barrels to 482.17 million barrels last week, the Energy Information Administration said on Wednesday. Industry group, the American Petroleum Institute (API), had forecast on Tuesday a fall of 5.2 million barrels. [EIA/S] [API/S]

May 20, 2015

Oil prices rise on U.S. stock draw, strong Japan data

LONDON, May 20 (Reuters) – Crude oil prices bounced back on
Wednesday from steep falls in the previous session as industry
data showed that U.S. crude stocks fell more than expected last
week and strong Japanese economic growth surprised markets,
stoking producer hopes of increased demand.

Brent futures rose 79 cents to $64.81 a barrel by
0840 GMT. U.S. crude prices rose 58 cents to $58.57 a
barrel.

May 13, 2015

Oil extends gains after U.S. fuel stocks drop

LONDON (Reuters) – Brent crude oil rose above $67 a barrel towards five-month highs on Wednesday after U.S. crude stockpiles fell for a second straight week, suggesting that the world’s biggest oil market is rebalancing.

U.S. crude, gasoline and distillate stockpiles all fell last week, the American Petroleum Institute said on Tuesday, ending months of builds that have lifted stocks to record highs.[API/S]

May 12, 2015

Oil rises above $66 as weaker dollar offsets oversupply concern

LONDON (Reuters) – Brent crude futures rose above $66 a barrel on Tuesday as a weaker dollar and the Yemen conflict helped lift prices.

Record high oil output from Saudi Arabia in April failed to dent the move, although Goldman Sachs warned of further oil price declines.

May 12, 2015

Oil rises as Middle East unrest offsets oversupply concern

LONDON, May 12 (Reuters) – Brent crude futures rose on
Tuesday as unrest in Yemen and a weaker dollar helped lift
prices despite worries of a supply glut after Saudi Arabia
reported strong production for April and Goldman Sachs warned of
further oil price declines.

June Brent crude was up 40 cents at $65.31 a barrel
by 0813 GMT. June West Texas Intermediate (WTI) rose 30
cents to $59.55 a barrel.

May 7, 2015

Oil retreats below $67 as ample supplies outweigh U.S. stock draw

LONDON, May 7 (Reuters) – Brent crude oil retreated below
$67 a barrel on Thursday as ample supplies weighed on prices and
the impact faded of the first drawdown in U.S. crude inventories
since January.

Brent crude was down 97 cents a barrel at $66.80 by
1353 GMT. It hit a 2015 high of $69.63 on Wednesday.

May 6, 2015

Oil bulls drive crude to 2015 high on fall in U.S. stocks

LONDON, May 6 (Reuters) – Oil prices rose more than a dollar
to 2015 highs on Wednesday, as a month-long rally gained further
impetus from a fall in U.S. crude stocks and conflict in the
Middle East.

Brent crude jumped by $1.36 to $68.88 a barrel by
0855 GMT, after hitting a 2015 peak of $69.14.

Apr 28, 2015

Oil slips on expected U.S. stock build, but weaker dollar provides support

LONDON (Reuters) – Brent crude futures slipped on Tuesday ahead of weekly U.S. crude inventory data that is expected to hit another high, but a weaker dollar helped to put a floor under prices.

U.S. commercial crude stockpiles were expected to have risen last week for the 16th straight week, up from a record 489 million barrels, even though drilling activity fell, a preliminary survey by Reuters showed on Monday.