crude oil futures quotes

crude oil futures quotes

November 28th, 2016

Crude oil futures prices jumped in choppy trade on Monday after Iraq’s oil minister said he was “optimistic” that Wednesday’s crunch OPEC meeting will yield an agreement on output cuts.

U.S. crude oil was up 78 cents or 1.78% at $46.88 a barrel at 0931ET, after falling as low as $45.16 earlier.

Global benchmark Brent futures were at $49.08 a barrel, up 81 cents or 1.68%.

Prices jumped after Iraqi oil minister Jabar Ali al-Luaibi said Monday he is “optimistic” that OPEC will reach an agreement that is acceptable to all this week.

The Organization of the Petroleum Exporting Countries is attempting to get its 14 member states, along with non-OPEC member Russia, to implement coordinated production cuts aimed at reducing a global supply glut that has seen oil prices halve in two years.

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crude oil futures news

crude oil futures news

November 15th, 2016

Oil prices were higher during North America trading on Tuesday, extending overnight gains as market participants continued to weigh prospects of a coordinated production cut among major global oil producers.

Crude oil for December delivery on the New York Mercantile Exchange jumped by as much as 3.6% to a session high of $44.95 a barrel.

It was last at $44.57 by 9:10AM ET (14:10GMT), up $1.25, or 2.9%, after sliding to $42.20 the day before, a level not seen since August 11.

Elsewhere, Brent oil for January delivery on the ICE Futures Exchange in London climbed $1.23, or 2.77%, to $45.66 a barrel. It dropped to as low as $43.57 in the prior session, the weakest since August 11.

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crude oil futures news

crude oil futures news

March 17th, 2016

Crude oil prices extended strong gains from the prior session in European trade on Thursday, with the U.S. benchmark climbing to fresh three-month peaks amid growing hopes major oil producers will work together to cap output.

Crude oil for April delivery on the New York Mercantile Exchange jumped to a daily peak of $39.64 a barrel, the most since December 9, before falling back to $39.52 by 09:10GMT, or 5:10AM ET, up $1.09, or 2.83%.

A day earlier, New York-traded oil futures soared $2.12, or 5.83%, to close at $38.64, as bullish weekly supply data, an agreement by global oil producers to meet next month to discuss an output freeze and a broadly weaker U.S. dollar as a result of a surprisingly dovish Fed all contributed to strong gains.

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crude oil futures 101

crude oil futures 101

March 8th, 2016

Crude oil futures rose to fresh three-month highs in North American trade on Tuesday, reversing earlier losses as investors shifted their focus back towards ongoing talk of a potential output freeze by major producers.

On the ICE Futures Exchange in London, Brent oil for May delivery rose 34 cents, or 0.83%, to trade at $41.18 a barrel by 13:35GMT, or 8:35AM ET, after climbing to an intraday peak of $41.46, the most since December 9.

A day earlier, London-traded Brent futures soared $2.12, or 5.48%, as continued hopes major oil producers will discuss a potential output freeze lifted prices.

On Monday, South American producers said they would meet to talk about action to support prices. Ecuador’s Foreign Minister, Guillaume Long, said his government will host a meeting in Quito on Friday with Venezuela, Colombia, Ecuador and Mexico “to reach consensus over oil, especially prices.”

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crude oil futures news

crude oil futures news

July 13th, 2015

Crude oil futures were lower on Monday, as traders awaited developments surrounding nuclear talks between the West and Iran, while concerns over a global supply glut weighed.

On the ICE Futures Exchange in London, Brent oil for September delivery shed 76 cents, or 1.28%, to trade at $58.25 a barrel during U.S. morning hours, trimming losses after hitting a session low of $57.18.

Elsewhere, on the New York Mercantile Exchange, crude oil for August delivery fell to an intraday low of $51.28 a barrel, before recovering to trade at $52.33 a barrel, down 41 cents, or 0.78%.

The spread between the Brent and the WTI crude contracts stood at $5.92 a barrel, compared to $6.26 by close of trade on Friday.

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crude oil futures news

crude oil futures news

February 2nd, 2015

Crude oil markets rallied Monday morning, shrugging off news of U.S. refinery strikes and sluggish Chinese manufacturing, as traders continued Friday’s run to close out bearish bets, traders and analysts said.
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Light, sweet crude for March delivery was recently up 32 cents, or 0.7%, at $48.56 a barrel on the New York Mercantile Exchange. Brent crude for March delivery recently traded up 44 cents, or 0.8%, to $53.43 a barrel on the ICE Futures Europe exchange.

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Crude oil futures quotes

Crude oil futures quotes

January 6th, 2015

Oil extended losses below $50 a barrel amid speculation that U.S. inventories will expand, deepening a global supply glut that’s driven prices to a five-year low.

Crude Oil futures declined for a fourth day. Stockpiles in the world’s biggest oil consumer probably rose by 700,000 barrels last week, a Bloomberg News survey shows before a government report tomorrow.

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April 17th, 2012

Commodity Investing – Commodities and stocks advanced after Spain sold more debt than targeted and the International Monetary Fund increased its forecasts for global economic growth. The pound climbed as U.K. inflation unexpectedly accelerated.

The Standard & Poor’s 500 Index gained 1 percent at 10:33 a.m. in New York and the Stoxx Europe (SXXP) 600 Index advanced 1.6 percent. The yield on the Spanish 10-year bond fell 17 basis points to 5.90 percent, with the similar-maturity Italian yield 10 basis points lower. Ten-year Treasury yields increased two basis points to 2.00 percent. The pound strengthened against 12 of its 16 most-traded peers after U.K. consumer prices rose 3.5 percent in March, the first increase in six months.

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April 17th, 2012

Crude oil rose to the highest in three days in New York on a bigger-than-projected gain in U.S. retail sales and expectation that the Seaway crude pipeline reversal will help reduce a supply glut.

Crude oil futures in New York also extended gains after advancing for a third time in four days yesterday on better-than-expected German investor confidence data and Spain bond auction. Seaway pipeline operators said they would reverse its flow earlier than planned. U.S. retail sales increased more than forecast in March as Americans snapped up everything from cars and furniture to clothes and electronics.

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April 11th, 2012

Crude oil rose from the lowest close in almost two months in New York after a European Central Bank official signaled the lender may act to stem the spread of the region’s debt crisis.

Crude oil futures gained as much as 0.7 percent as the euro strengthened against the dollar after ECB Executive Board member Benoit Coeure suggested that the bank may restart bond purchases for Spain. Crude declined yesterday after an industry report showed U.S. stockpiles rose for a third week. The Energy Department will release its inventory report later today.

“Oil is getting some support from a weaker greenback amid some ECB reassurances,” said Andrey Kryuchenkov, an analyst at VTB Capital in London. “We also have a general rebound across the board along with equities after losses yesterday, though it seems this may be short-lived.”

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