Saudi Arabia and other powerful OPEC members are reportedly discussing how to boost oil prices to $50 a barrel, a target they consider fair to both crude oil consumers and producers. The private talks add to signs that the market’s nearly two-year rout is winding down, Gary Ross, one of the industry’s leading prognosticators, told Reuters …
Crude oil prices edged closer to $40 per barrel Monday, extending a monthlong rally, on hopes of lower supply and improving global outlook. Prices surged during morning trade in Asia, as U.S. drillers cut the number of active rigs to a six-year low. Brent crude futures, the global oil benchmark, were trading at $39.13 per barrel Monday, up …
Talking Points: Crude Oil Technical Strategy: Oil At Long-Term Resistance, Difficult Price To Buy The US Dollar Weakness Could Provide Next Leg Higher in WTI Crude March is statistically the most bullish month of the year for WTI crude oil by mean and median returns Oil continues to hang around $35/bbl to the confusion of …
Stocks soaring as upbeat data, and a stabilizing oil trade, fuel markets higher. Is this rally for real, or just more short-covering? Yahoo Finance’s Nicole Sinclair gives us her take on all the market action. Apple on the Hill FBI Director James Comey and Apple General Counsel Bruce Sewell take the stand on Capitol Hill, …
US crude oil inventories surged last week by the biggest amount since last April. Data from the Energy Information Administration showed that inventories jumped by 10.4 million barrels, much more than the forecast for 3.604 million according to Investing.com. On Tuesday, the American Petroleum Institute’s data also showed a big build, by 9.9 million barrels, which …
WEST SPRINGFIELD, Mass. — Crude oil prices have jumped 30 percent over the last 11 days. 22News you what that means for you, the consumer. The price of crude oil directly affects how much you pay for things like gas for your car and heating oil for your home. Crude oil prices hovered as low …
U.S. crude closed lower in choppy trade, but still recorded weekly gains, as supply disruptions in Iraq and Nigeria provided supported. Pipeline outages in Iraq and Nigeria have removed more than 800,000 barrels of crude oil per day from the market for at least the next two weeks. The disruptions should offset recent increases to …
U.S. oil prices have been trading in seesaw fashion throughout most of the week, with bears pushing crude into the low $32 per barrel price range. Recent government data now shows stockpiles of the precious commodity rising to more than 3.5 million barrels this past week, a new high on the verge of surpassing 510 …
The Davos of Energy Shows Global Belt-Tightening WTI Crude Oil has been as volatile as any other in 2016. This week aligns with the IHS CERAWeek that goes through to Friday with many prominent speaks and is known as the Davos or Superbowl of the energy world. in a similar manner than Iranian production continues …
Stocks are jumping Monday as the price of oil surges, lifting energy stocks. Mining and chemicals companies and banks are also climbing. The stock market is coming off its best week of the year. The Dow Jones industrial average was up 204 points, or 1.2%, to 16,595 as of 10:27 a.m. Eastern time. The Standard …