Crude Oil Price Hits May 2015 High At $67 Per Barrel

Oil price wednesday hit $67 per barrel for the first time since May 2015, before dropping to $66.27 despite the supply disruptions in Libya and the North Sea. The prices of both crude futures fell after hitting a near two-and-a-half year high in the previous session as analysts said the rally was gradually running out of… Please follow and like us:

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Crude Oil Suffers Setback As More Traders Opt for U.S. Blend

Nigeria’s crude oil is under serious pressure at the international market, as Asian refiners have increasingly been moving away from their usual favourite, frequently opting for United State (U.S) crude oil, the Organisation of the Petroleum Exporting Countries (OPEC) has said. Besides, Nigeria’s crude oil production declined by 54,200 barrels per day (bpd) from the 1.792bpd… Please follow and like us:

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Asia stocks down as plunging oil prices hammer energy firms

Asian energy firms extended a global sell-off Wednesday, dragging regional equity markets, as oil prices continued to tumble on the back of warnings of slowing demand and rising stockpiles. Both main contracts were down more than one percent as investors were spooked after the International Energy Agency (IEA) cut its forecast for crude consumption, saying recovering… Please follow and like us:

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Crude Oil Price Rises Towards U.S.$59 Per Barrel

Crude oil price rose towards $59 per barrel Wednesday to sustain Tuesday’s rallies where it gained one per cent after the Saudi Energy Minister, Khalid al-Falih, said the focus remained on reducing oil stocks in industrialised countries to their five-year average. The minister’s statement had raised the prospect of prolonged output restraint once the supply-cutting pact… Please follow and like us:

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Crude Oil Prices Drop By Nearly 2 Percent

Oil prices fell yesterday by nearly two per cent, pulling back from last week’s rally built on signs the global market is starting to rebalance from chronic oversupply. Global benchmark, Brent crude futures lost two per cent, or $1.07, at $51.65 per barrel after surging more than three per cent on Friday. US West Texas Intermediate… Please follow and like us:

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OPEC Predicts Higher Demand for Oil in 2018

The Organisation of Petroleum Exporting Countries (OPEC) has predicted a higher demand for its crude oil in 2018, citing rising global demand, and pointing to strong indications that the glut in the oil market is easing. In its monthly Oil Market Report (OMR) released thursday, the cartel pointed to signs of a stronger oil market that… Please follow and like us:

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Top 5 Things To Know In The Market On Monday

TOP 5 THINGS TO KNOW IN THE MARKET ON MONDAY IN THE MARKET Here are the top five things you need to know in financial markets on Monday, August 7: 1. OPEC / non-OPEC meeting kicks off Market players looked ahead to a highly-anticipated meeting of oil ministers from some OPEC and non-OPEC producers to assess… Please follow and like us:

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Crude Oil Price Inches Up to $49 As U.S. Drilling Declines

Crude oil price on Monday edged up to about $49 per barrel after fewer drilling rigs were added in the United States, thus easing concerns that surging shale supplies will undermine the efforts by the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC to reduce the level of inventory in the oil market. While the Brent… Please follow and like us:

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Oil surges after Saudis and Russians agree to production cut

All seemed quiet in the markets Monday with Asian equities rising, European shares dropping, and the S&P500 futures showing little change. But beneath this calm exterior a long awaited bounce was brewing. Brought on by months of planning and machinations involving more than a dozen governments with two leading the charge. The long anticipated agreement between… Please follow and like us:

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JPMorgan: As Market Yawns At OPEC Production Cuts, Watch Price of Oil Drop Further

As the price of oil dropped significantly Thursday, moving from a high near $52 into the $48 region, JPMorgan says the downdraft is likely to be reflective of OPEC production cuts priced into the market. While WTI is higher in mid-afternoon trading, the price might ultimately find a gravitational pull lower, the report noted. LAGRANDEENTREPRISE /… Please follow and like us:

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