crude oil futures 101

crude oil futures 101

June 12th, 2018

Crude Oil futures prices were slightly higher on Tuesday despite an increase in production from OPEC.

Crude oil futures increased 0.51% to $66.44 a barrel as of 11:13 AM ET (15:13 GMT) after falling to a low of $64.92 earlier in the session. Meanwhile Brent crude futures, the benchmark for oil prices outside the U.S., rose 0.05% to $76.50.

Total production of the Organization of the Petroleum Exporting Countries and Russia countries rose by 35,000 barrels per day (bpd) in May to 31.87 million bpd, according to its monthly report.

However the higher production in Saudi Arabia, Algeria and Iraq was offset by decreased production in Venezuela, Libya and Nigeria, the firm said.

The organization remained cautious however, as there is “pronounced uncertainty” about the oil market outlook for the rest of the year.

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crude oil futures quotes

crude oil futures quotes

May 27th, 2016

The strong rally in oil prices that sent Brent and U.S. crude above $50 a barrel for awhile on Thursday faces technical barriers in the next three to five weeks.

Unexpected oil supply outages, along with technical buy signals, have helped lift Brent and U.S. crude prices nearly 90 percent above 12-year lows hit earlier this year.

Analysts believe the market has now factored in most supply cuts. Two technical analysts on Thursday said oil’s advance will be limited to a few more dollars at most. One was more bullish.

Brent futures (LCOc1) hit $50.51 on Thursday, after sinking to $27.10 on Jan. 20, which was the lowest since July 2003.

U.S. West Texas Intermediate (WTI) futures (CLc1) touched $50.21 on Thursday, up from $26.05 on Feb. 11, which was the lowest since May 2003. [O/R]

Both benchmarks retreated from session highs and settled below $50 a barrel.

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crude oil futures news

crude oil futures news

April 28th, 2016

Crude oil futures slid after setting a 2016 high on Thursday as traders locked in profits, though analysts said supply disruptions, strong investor appetite and a weakening dollar could push prices higher soon.

Brent crude futures were trading at $47.05 per barrel at 1129 GMT, down 13 cents from their last settlement and off an earlier high of $47.47. U.S. West Texas Intermediate (WTI) futures were down 19 cents at $45.14 a barrel.

Both Brent and WTI have rallied more than 70 percent since their respective 2016 lows in January and February.

Record crude storage figures may have spurred some investors to take profits on Thursday by closing positions betting on a rise in prices, traders said.

Government data on Wednesday showed that U.S. crude stocks climbed 2 million barrels last week to an all-time peak of 540.6 million barrels. [EIA/S]

Despite slipping from the highs, analysts said oil market sentiment had clearly turned bullish, and further price rises were likely.

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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

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 Prices Higher After Heavy Losses

On February 5, 2015, in Crude Oil Futures News Report, by Infinity Trading

 

crude oil futures options

crude oil futures options

February 5th, 2015

Crude oil futures prices climbed higher on Thursday supported by a weaker dollar following heavy losses in the previous session as U.S. supplies continued to add to the global oil glut.

Data on Wednesday showed that U.S. crude supplies had climbed to their highest level in 80 years sending oil prices down by almost 9% for the day.

On Thursday, Brent crude rose 2.2% to $55.35 a barrel on London’s ICE Futures exchange. On the New York Mercantile Exchange, light, sweet crude futures traded at $49.25 a barrel, up $0.80 from Wednesday’s settlement.

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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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crude oil futures quotes

crude oil futures quotes

January 2nd, 2015

Crude oil dropped to the lowest since May 2009 amid growing supply from Russia and Iraq and signs of manufacturing weakness in Europe and China.

Futures headed for a sixth weekly loss in New York and London. Oil output in Russia and Iraq surged to the highest level in decades in December, according to data from both countries’ governments. Euro-area factory output expanded less than initially estimated in December. A manufacturing gauge in China, the world’s second-largest oil consumer, fell to the weakest level in 18 months, government data showed yesterday.

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crude oil futures quotes

crude oil futures quotes

November 24th, 2014

Crude oil futures Brent and West Texas Intermediate were little changed as investors weighed the odds of a production cut from OPEC this week.

Iran may propose that OPEC cut its output target by as much as 1 million barrels a day, Mehr News reported. Hedge funds have turned less bullish on oil in the absence of any clear signal from the Organization of Petroleum Exporting Countries that it will act to bolster prices. The 20 analysts surveyed last week by Bloomberg are divided, with half predicting a cut and the rest no action.

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August 23rd, 2011

Crude oil futures rose for a second day in New York amid speculation the Federal Reserve will bolster efforts to stimulate the economy.

Crude oil futures increased as much as 2.3 percent as equities climbed and the dollar weakened ahead of this week’s meeting of central bankers in Jackson Hole, Wyoming. Fed Chairman Ben S. Bernanke hinted at a second round of asset purchases at last year’s gathering. Earlier, crude fell 1.2 percent after former Fed Chairman Alan Greenspan said the euro “is breaking down.”

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