Oil extends win streak to 4 days, finishes at 6-week high

Oil ended higher Thursday for a fourth consecutive session, with the U.S. benchmark settling at a more-than-six-week high on expectations for stronger demand and efforts by major producers to maintain a cap on crude output. October West Texas Intermediate oil CLV7, +0.02%  on the New York Mercantile Exchange rose 59 cents, or 1.2%, to settle at $49.89 a …

Is An Oil Price Spike Imminent?

As the U.S. market begins its recovery from the double whammy served up by hurricanes Harvey and Irma, my earlier projections of where crude oil prices are headed have come true. Just a little quicker than anticipated. As I am writing this, WTI (West Texas Intermediate, the benchmark crude rate for futures contracts written in New York) …

Iraq’s Solution To Lower For Longer Oil Prices

OPEC’s second-largest oil producer, Iraq, has never hidden the fact that it wants to get the highest possible revenues from its oil. It even pleaded exemption from the cartel’s cuts in the talks leading to the production reduction deal, on the grounds that it needed more funds to fight ISIS. Iraq didn’t get that exemption, …