Prices

Oil

Oil steady on signs of interest rate hike

Source: 
Bloomberg

U.S. oil prices eased off again on speculation over future action by the Federal Reserve to increase interest rates. West Texas Intermediate crude for October delivery was 21 cents lower to $92.86 a barrel in electronic trading on the Nymex, while in London November Brent gained 1 cent to $97.71, Bloomberg reports.

Oil

Oil sinks on strong dollar

Source: 
Bloomberg

With a push from the strong dollar – trading at a six-year high against the Japanese yen – alongside increasing supplies, oil tumbled Thursday. West Texas Intermediate crude for October delivery dropped $1.35, or 1.4 percent, to $93.07 a barrel on the Nymex, while in London November Brent lost 1.3 percent, or $1.27 to settle at $97.70, Bloomberg reports.

Oil

Oil dips on supply, demand concerns

Source: 
Reuters

The same set of factors weighing on oil in recent weeks – ample supply, weak demand projections and a strong dollar – moderated by renewed Libya fighting that affected oil production, saw prices edge down Thursday. U.S. benchmark crude dropped 21 cents to $94.21 a barrel in electronic trading on the Nymex, while in London Brent slipped 7 cents to $98.90, Reuters reports.

Oil

Oil drops on rising inventories

Source: 
Bloomberg

A report from the Energy Information Administration showing a spike in U.S. inventories last week pressured oil prices Wednesday. West Texas Intermediate crude for October delivery fell 46 cents to settle at $94.42 a barrel on the Nymex, while in London November Brent dipped 8 cents to $98.97, Bloomberg reports.

Oil

Oil resumes climb on Libya shutdown

Source: 
Bloomberg

Libya’s move to shut its Shahara oilfield after a rocket attack on a linked refinery sent oil prices higher again Wednesday. West Texas Intermediate crude for October delivery was up 2 cents to $94.90 a barrel in electronic trading on the Nymex, while in London November Brent gained 45 cents to $99.50, Bloomberg reports.

Oil

Oil gains on remarks from OPEC’s Al-Badry

Source: 
Bloomberg

Comments from Secretary General Abdullah Al-Badry that OPEC could cut its production quota next year sent oil prices higher Tuesday. West Texas Intermediate crude for October delivery jumped $1.96, or 2.1 percent, to settle at $94.88 on the Nymex, while in London November Brent was $1.17 higher to $99.05, Bloomberg reports.

Oil

Oil prices to rebound, predicts OPEC SG

Source: 
Platts

World oil prices – which had been dragging at two-year lows – should be up higher by the end of 2014, Russian news agency Prime quoted OPEC Secretary General Abdullah al-Badry as saying, Platts reports.

Oil

Oil still slipping on weak economic data

Source: 
Reuters

A combination of growing supply from Libya at a time when statistics are indicating weaker demand from the world’s big economies was continuing to pressure oil prices Tuesday. U.S. benchmark crude for October delivery was 22 cents lower to $92.70 a barrel in electronic trading on the Nymex, while in London November Brent dropped 8 cents to $97.80, Reuters reports.

Oil

Oil mixed, US crude higher as dollar drops

Source: 
Bloomberg

With the dollar down ahead of the Federal Reserve meeting this week, U.S. benchmark crude recovered from intraday losses. West Texas Intermediate gained 65 cents to settle at $92.92 a barrel on the Nymex in active trading, while in London the October contract for Brent crude wrapped up 46 cents down at $96.65, Bloomberg reports.

Oil

Oil slips again as Chinese demand seen weak

Source: 
Reuters

Weak numbers for Chinese factory output and other data pressured oil prices again Monday. U.S. benchmark crude dropped 60 cents to $91.67 a barrel in electronic trading on the Nymex, while in London Brent crude fell 21 cents to $96.90, slightly up from a 26-month low hit earlier in intraday trading, Reuters reports.

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