OIl market
OIl market News
Oil weighed down by record Saudi output; markets eye G20, OPEC meetings
Since their most recent peaks in early October, oil prices have lost almost a third of their value, weighed down by an emerging supply overhang and by widespread weakness in financial markets.
Oil near 4-year high as Washington's Iran sanctions loom
Brent has risen by around 20 per cent from the most recent lows in August.
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Oil drops after Trump threatens new China trade tariffs
Brent crude for June delivery was down 45 cents, or 0.66 percent, at $67.88 per barrel at 0645 GMT. U.S. West Texas Intermediate crude for May delivery was down 41 cents, or 0.65 percent, at 63.13 a barrel.
Oil stable as market conditions tighten despite rising US output
US commercial crude inventories have fallen by almost 13 percent from their March peaks, to 466.5 million barrels. Analysts said that falling crude inventories, despite rising output, indicate the market is already tightening.
Oil markets steady as strong demand is met by ample supplies
Despite this, the IEA said that stocks remained 219 million barrels above a 5-year average - a level that producer club OPEC is targeting with its output cuts.
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