Oil Future Looks Bright As Crude Production Goes Down

Oil expected to maintain a positive path after reaching a two-week high. Market Watch reported, “Oil futures erased a small decline to turn higher Thursday after government data showed an unexpected drop in U.S. crude inventories. The Energy Information Administration said crude stocks fell by 1.6 million barrels. A survey of analysts by The Wall …

Oil Prices Continue To Rise

The oil market experienced a more than 1% rise last week, adding on to previous gains. Saudi commented that they’d rather have a market somewhat undersupplied than end the OPEC deal and withhold production. Traders said, “Prices rose on the back of ongoing weakness in the U.S. dollar against other leading currencies, further supported by …

Oil Prices Contribute To Gains After Best Day In Weeks

The futures of oil gave up some of the gained ground on Thursday over supply worries. West Texas Intermediate experienced its biggest one-day rise since the end of December. Market Watch Report stated, “Crude prices climbed Wednesday after the Energy Information Administration said U.S. inventories rose just 1.8 million barrels in the week ended Feb. 9, …

Volatility Has Returned To The Oil Market

The oil market has seen the return of volatility after the last two weeks. Forbes reported, “A 10 percent drop in the Dow Jones Industrial average was met by a 10 percent drop in the price for WTI, as a strengthening dollar, a jump in the U.S. rig count and the preliminary announcement by the …

Oil Rises 2% As Market Stabilizes

Oil gains after the biggest decline over a one week period in over two years. Reuters reports, “Brent crude futures LCOc1 were up nearly 2 percent, or 92 cents, at $63.71 a barrel by 1442 GMT, while U.S. West Texas Intermediate futures CLc1 rose $1.10 to $60.30. A weaker dollar helped to boost oil by …

Oil Dips Toward $60 Per Barrel

This is shaping up to be the worst week for oil in about a year, concerning investors already worried about an over grown supply in the U.S. Bloomberg reports, “Futures traded in New York are on track to post a 7.8 percent slump this week as equities tumbled around the world. Adding to the alarm …

Oil Slides To Two-Week Low As Market Dips

The global market plunge has affected nearly every equity, making oil no different. Thus oil has reached its lowest price point in over two months. Bloomberg Market reports, “Crude futures in New York fell a third day, sliding as much as 1.6 percent”. They continued by sharing, “‘Oil prices could not escape the risk-off mood …