NEW YORK, Dec 9 (Reuters) – Brent crude fell on Monday as
well-supplied markets and limited demand from European refiners
pushed prices lower, narrowing the gap between the global and
U.S. oil benchmarks.
Brent futures fell by as much as $1.70 a barrel to a
low of $109.91 before recovering somewhat to trade around
$110.13 by 11:05 a.m. EST (1605 GMT), down sharply from Friday’s
close at $111.61.
NEW YORK, Dec 6 (Reuters) – Oil rose on Friday, supported by
expectations of increased demand after the government reported
the jobless rate fell to a five-year low in the United States,
the world’s top oil consumer, adding to a week’s worth of strong
Gains were curbed by speculation the positive data would
push up the date that the U.S. Federal Reserve begins unwinding
its bond-buying program, which could reduce support for riskier
assets such as oil and other commodities.
NEW YORK, Dec 5 (Reuters) – Severe winter weather in the
western United States has already dented some oil and gas
production and could further crimp output in the top crude
producing states as temperatures drop this week.
In North Dakota, temperatures are expected to drop to -40
degrees Fahrenheit (-40 degrees Celsius) by Saturday, following
a three-day winter storm that blanketed the western reaches of
the state with up to 8 inches of snow, NOAA forecasters said.
NEW YORK, Nov 29 (Reuters) – U.S. oil climbed by more than
$1 per barrel in light trading on Friday to narrow its discount
to European Brent as the market focused on tight distillate
supplies ahead of winter.
The U.S. benchmark jumped in early morning activity on short
covering ahead of the weekend to narrow its discount to Brent to
around $17.30 a barrel from the more than $19 discount in the
previous two sessions, market participants said.
NEW YORK, Nov 25 (Reuters) – A small hedge fund manager
turned professional card player who came to fame for a mammoth
gold trade two years ago, was fined and banned from some trading
for attempting to manipulate oil markets in 2008, the U.S.
futures market regulator said on Monday.
Daniel Shak, 54, and his fund, SHK Management LLC, must pay
a total of $400,000 in civil penalties for violating the
Commodity Exchange Act, through a trading gambit known as
“banging the close”.
NEW YORK, Nov 25 (Reuters) – The future volatility of
already becalmed oil prices is looking even more muted following
an historic deal between Iran and major nations that may ease
years of tensions.
Late last week, with an agreement over Iran’s nuclear
program looking promising, the implied volatility in the U.S.
crude oil market fell to nearly 18 percent, its lowest in eight
months and near the lowest since the CBOE crude oil volatility
index began tracking the market in 2007.
NEW YORK, Nov 25 (Reuters) – Oil fell on Monday following
the breakthrough deal between world powers and Iran that led to
expectations for an eventual increase in the OPEC nation’s
International benchmark Brent fell up to $3 a barrel in
early trading following the weekend agreement, which halts
Iran’s most sensitive nuclear activity and suspends some
sanctions by the United States and the European Union on several
sectors of Iran’s economy for an initial six-month period.
NEW YORK, Nov 22 (Reuters) – Benchmark Brent crude was
little changed on Friday amid dwindling expectations of an
imminent breakthrough in talks over Iran’s nuclear program,
while U.S. prices sank in choppy trade.
Heavy unwinding of the spread trade between European Brent
and U.S. West Texas Intermediate (WTI) drove Brent’s premium to
an 8-month high of $16, the widest since March. European gas oil
led the complex with a 1.4 percent gain, rising for a
second day after refinery glitches in the Rotterdam area.
NEW YORK, Nov 21 (Reuters) – U.S. gasoline futures surged by
more than 2 percent on Thursday as an outage at the nation’s
largest refinery added to a cluster of refinery problems,
fueling supply concerns as the United States enters into
high-demand holiday driving season.
Activity at Motiva Enterprises’ 88,000 barrel per
day (bpd) gasoline-making unit decreased on Wednesday, energy
intelligence group Genscape said. The 600,000
bpd refinery at Port Arthur, Texas, is the largest in the United
NEW YORK, Nov 21 (Reuters) – Crude oil futures rose by more
than $1 per barrel on Thursday, boosted by positive U.S.
economic data and surging gasoline prices as demand was expected
Investors were also eyeing talks between Western powers and
Iran on hopes of an accord over its nuclear program.