LONDON (Reuters) – Oil prices eased slightly on Friday as evidence this week of rising crude supplies from OPEC members offset Middle East tensions and signs of a slowdown in U.S. output.
Brent crude was still within sight of its 2015 high reached on Thursday and has rallied 16 percent in April, supported by conflict in Yemen and the prospect that lower prices are starting to curb U.S. shale output.
LONDON (Reuters) – Brent crude oil prices rose on Wednesday amid tension in the Middle East and signs of a dip in U.S. production, but gains were capped by a report from the International Energy Agency (IEA) indicating that supplies would take longer to tighten than previously expected.
Front-month Brent crude futures LCOc1 were up 53 cents at $58.96 per barrel by 1124 GMT, while U.S. crude futures CLc1 were up 54 cents to $53.83.
LONDON (Reuters) – Brent crude oil prices rose above $59 a barrel on Wednesday amid tension in the Middle East and signs of a dip in U.S. production, but gains were capped by a report from the International Energy Agency (IEA) indicating that supplies would take longer to tighten than previously expected.
Front-month Brent crude futures LCOc1 were up 68 cents at $59.11 per barrel by 0903 GMT, while U.S. crude futures CLc1 were up 70 cents to $53.99.
LONDON, April 13 (Reuters) – Oil surged above $59 a barrel
on Monday in a volatile market as traders covered short
positions, after a strong end to last week as financial traders
increased bets on higher prices amid a slowdown in U.S.
Front-month Brent crude futures were trading up
$1.40 at $59.28 a barrel by 0810 GMT, while U.S. crude
had risen $1.22 to $52.86 a barrel.
LONDON (Reuters) – Oil prices rallied more than 2 percent on Thursday, clawing back part of a 6 percent slump triggered by a jump in U.S. crude inventories and record Saudi output, although analysts said sentiment remained bearish.
A 10.95-million-barrel surge in U.S. crude stockpiles to an all-time high of 482.4 million last week, the biggest gain in 14 years, and Saudi oil production of 10.3 million barrels a day (bpd) in March battered crude on Wednesday.
LONDON (Reuters) – Oil prices fell towards $58 a barrel on Wednesday as industry data showed a larger-than-expected weekly increase in U.S. stockpiles and as Saudi Arabia reported record output in March.
The decline in prices followed a rally on Tuesday, when U.S. crude approached 2015 highs following strong jobs data and government forecasts for lower U.S. crude production growth and higher global demand for oil.
LONDON (Reuters) – Oil futures climbed more than $1 a barrel on Monday, after Saudi Arabia raised its prices for crude sales to Asia for the second month running, signaling improved demand in the region.
International benchmark Brent regained ground after tumbling as much as 5 percent on Thursday, when a preliminary nuclear deal was finally reached between world powers and Iran. More Iranian oil could enter global markets if that is followed by a comprehensive deal by June.
LONDON (Reuters) – Brent crude oil futures slipped below $55 a barrel on Wednesday on speculation that a last-minute deal over Iran’s nuclear program would be reached, opening the way for more Iranian crude to come into world markets.
Talks between Iran and six world powers to settle a dispute around Tehran’s nuclear program extended beyond a Tuesday deadline.
LONDON (Reuters) – Brent crude oil pared early gains but still rose more than 4 percent towards $59 a barrel on Thursday after Saudi Arabia and its Gulf Arab allies began a military operation in Yemen.
The air strikes against Houthi rebels, who have driven the president from Yemen’s capital Sanaa, could stoke concerns about the security of Middle East oil shipments.
LONDON (Reuters) – Brent oil prices firmed on Wednesday as business morale in the euro zone’s top two economies improved, offsetting concerns of oversupply that has filled fuel storage tanks around the world.
Germany, Europe’s largest economy, saw business morale rise for the fifth month in a row in March, hitting its highest since July 2014, Ifo’s business climate index showed.