crude oil futures quotes

crude oil futures quotes

July 24th, 2017

Crude oil futures rose on Monday, erasing early losses after leading OPEC producer Saudi Arabia pledged to cut its exports to help speed the rebalancing of global supply and demand.

Saudi Energy Minister Khalid al-Falih said his country would limit crude oil exports at 6.6 million barrels per day (bpd) in August, almost 1 million bpd below levels a year ago.

Brent September crude futures (LCOc1) were up 44 cents on the day at $48.50 a barrel by 1313 GMT, having risen from a session low of $47.68.

NYMEX crude for September delivery (CLc1) rose 39 cents to $46.16.

“This is the Saudis saying they view the current market conditions as too weak and they are actually delivering,” said SEB commodity strategist Bjarne Schieldrop.

“It shows real additional willingness on their part to do something, which is hugely important, rather than sitting back and letting OPEC motions roll forward. They’re acting unilaterally and adding pressure.”

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crude oil futures news

crude oil futures news

December 10th, 2015

Crude oil futures fell to fresh seven-year lows on Thursday, after the Organization of the Petroleum Exporting Countries said it pumped the most crude in more than three years last month, adding to concerns over a glut in global supplies.

In its December monthly report released earlier in the day, OPEC said crude production rose by 230,100 barrels a day in November to 31.695 million, the most since April 2012, as the cartel pressed on with a strategy to protect market share and pressure competing producers.

Non-OPEC supply will fall by 380,000 barrels a day next year to 57.14 million, with an expected contraction in the U.S. accounting for roughly half the drop, the organization said.

Oil futures are down more than 11% since OPEC failed to agree on output targets last week. As a result, crude prices are expected to remain stubbornly low amid a glut of oversupply on global energy markets.

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crude oil futures news

crude oil futures news

August 27th, 2015

Crude oil approached its biggest weekly advance in more than four years, sustaining a rebound above $40 a barrel amid signs of a strengthening economy in the U.S., the world’s biggest crude-consuming country.

Futures climbed a second day, extending a 10 percent rally on Thursday that was the biggest in more than six years. U.S. consumer purchases climbed in July as incomes grew, showing the biggest part of the nation’s economy was off to a good start in the second half of the year. This comes on the heels of data showing spending and the overall economy did better than previously estimated in the second quarter.

Prices fell Monday to the lowest close since February 2009 after a slump in Chinese stocks sent ripples through global financial markets. Crude is still down more than 20 percent this year on concern a supply glut will persist. The Chicago Board Options Exchange Crude Oil Volatility Index closed at 49.03 on Thursday, near the highest since April.

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crude oil futures news

crude oil futures news

August 10th, 2015

Crude oil futures rose from the lowest level in almost five months in New York as Chinese crude imports climbed to a record in July.

China’s crude imports rose to a record on a monthly basis, driven by buying from small private refineries, according to preliminary data from the Beijing-based General Administration of Customs on Saturday. Prices fell to new lows earlier as the number of U.S. rigs seeking oil rose by six to 670, the third weekly gain, figures from Baker Hughes Inc. showed Friday.

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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

May 28th, 2015

Crude oil futures gained in Asia on Thursday despite higher than expected U.S. stockpiles last week as measured by industry.

The American Petroleum Institute said crude supplies last week rose 1.268 million barrels, more than the 2 million barrels decline seen, while gasoline stocks dropped 3.591 million barrels and distillates eased 51,000 barrels

The Energy Information Administration will release its weekly inventory report on Thursday, delaying the release by a day due to the Memorial Day holiday.

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crude oil futures news

crude oil futures news

May 10th, 2015

Oil held gains after rising for an eighth week as U.S. drillers further reduced the number of active rigs to the fewest since September 2010.

Crude oil futures were little changed in New York after capping a 0.4 percent weekly advance Friday, the longest run of increases since February 2013. The U.S. rig count declined by 11 to 668, extending a slide that started in December, according to Baker Hughes Inc. The Organization of Petroleum Exporting Countries, which is scheduled to meet June 5, is unlikely to cut its output quota, according to an official at National Iranian Oil Co.

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Crude Oil Futures Swing to Green

On April 7, 2015, in Crude Oil Futures News Report, by Infinity Trading
crude oil futures quotes

crude oil futures quotes

April 7th, 2015

Brent crude prices fell almost $1 a barrel on Tuesday, with an Iranian delegation in Beijing this week to push for more oil sales.

Oil markets were also pressured as Goldman Sachs <GS.N> said prices needed to remain low for months to achieve a slowdown in U.S. output growth.

China is Iran’s largest trade partner and also its largest oil client, having bought roughly half of Iran’s total crude exports since 2012, when sanctions against Iran were tightened.

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crude oil futures news

crude oil futures news

March 25th, 2015

Crude oil futures advanced to a two-week high as the shrinking size of U.S. crude production gains and a falling dollar outweighed rising supply.

U.S. crude production rose 3,000 barrels a day to 9.42 million in the seven days ended March 20, the Energy Information Administration said. The smallest increase since January left output at the highest level in more than three decades. Prices retreated initially as the report showed that crude supplies increased 8.17 million barrels to 466.7 million last week, the most in records compiled since August 1982.

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crude oil futures news

crude oil futures news

March 10th, 2015

Bets that oil prices will plunge below $35 a barrel by June have lost almost 80 percent of their value after the U.S. benchmark recovered from a six-year low.

June $30 and $35 puts, or wagers that West Texas Intermediate oil will drop below those levels, have tumbled since January. Prices traded within an $8 range last month, the least since September.

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