Oil is down 10 percent after reaching its high last month. Crude oil was trading at $60 per barrel yesterday, with its main influences being the production cut as well as the weakening dollar. A reporter for CNBC stated, “However, I believe this is nothing more than a temporary recovery. Anticipated interest rate hikes this …
Mexico made a huge deal with Trafigura to become a crude oil trading partner. It is now the first foreign company to get the right to market Mexican Crude oil. Before only the commercial division of state energy major Pemex was eligible for trading the country’s oil and gas. Now oil traders will compete …
Oil markets rose on Thursday, lifted by a fourth straight weekly fall in U.S. crude inventories, though climbing output capped prices well below the 2015 highs reached earlier this week. U.S. West Texas Intermediate (WTI) crude futures were at $56.74 a barrel at 0711 GMT, up 14 cents, or 0.25 percent from their last settlement. …