Oil Prices Near Three-Month High As Market Tightens
Monday, 18 February 2019 Oil prices rose early on Monday, extending last week’s gains amid rekindled hopes that the U.S. and China could reach a trade deal and growing signs of a tightening market, driven by OPEC’s production cuts and U.S. sanctions on Iran and Venezuela. At 07:38 a.m. EST on Monday, WTI Crude was trading up 0.80 percent at $56.43, while Brent Crude eased off earlier gains to trade down 0.02 percent at $66.24. Still, Brent Crude is currently on track for its best performance in a first quarter of a year since 2011. So far into 2019, oil prices…
According to Reuters, US stocks are trading slightly lower heading into the week's end. By the afternoon on Feb. 21st, the top three markets on the New York Stock Exchange lost their gains from a day before. The Dow Jones Industrial Average retreated about 64-points, falling to 25,891, while the...
OPEC is set to scrap its planned meeting in April and decide instead whether to extend oil output cuts in June, when the market will be able to assess the full impact of U.S. sanctions on Iran and the..
According to Business Insider, the leaders of seven major pharmaceutical companies are testifying before Congress about high US drug prices on Tuesday. The group of executives are attempting to justify..
Oil futures tumbled more than 3 percent on Monday. Reuters reports it was their largest daily percentage drop this year. The plunge came after U.S. President Donald Trump called on OPEC, in a series of..
Spencer Dale, BP's Chief Economist, talked to TheStreet about President Trump's tweets and the situation in Venezuela as well as Brexit. Monday morning, President Trump took to Twitter to express his..
According to Reuters, stocks on Wall Street took a few steps back. By the afternoon on Feb. 21st, the three markets on the New York Stock Exchange were trading down about half a percent together. The..
Oil market participants had started to worry in advance about how the U.S. sanctions on Iran in November would impact global supply, causing oil prices to shoot... OilPrice.com Also reported by •RTTNews •MoneyWeek
Bullish news from Saudi Arabia sent oil prices higher on Tuesday morning, but market uncertainty still remains. (Click to enlarge) (Click to enlarge) (Click to... OilPrice.com Also reported by •Firstpost •RTTNews
Iranian Oil Minister Bijan Zanganeh said on Saturday frequent U.S. comments about oil prices had created market tensions, the ministry's news website SHANA... Reuters India Also reported by •RTTNews •SmartBrief