Prices

Oil

Chinese rate cut pushes oil higher

Source: 
Bloomberg

U.S crude prices racked up their first weekly gain since September, as news that China cut interest rates to boost its economy raised expectations of increased oil demand in the future. West Texas Intermediate crude for January delivery was up 66 cents to finish Friday’s Nymex session at $76.51 a barrel, while in London Brent jumped $1.03 to settle at $80.36, Bloomberg reports.

Oil

Oil soars on China rate cut, Brent over $80

Source: 
Bloomberg

China’s move to cut its interest rates sent oil higher early Friday. West Texas Intermediate crude for January delivery jumped 2 percent, or $1.55, to $77.40 a barrel in electronic trading on the Nymex, while in London Brent crude gained $1.67 to $81, Bloomberg reports.

Oil

Focus on OPEC sees oil prices rise

Source: 
Bloomberg

Investors anticipating moves from next week’s OPEC meeting, including a possible production cut, sent oil prices higher Thursday. West Texas Intermediate crude for December delivery rose $1 to close the contract at $75.58 a barrel on the Nymex, while in London January Brent jumped 1.6 percent, an increase of $1.23, to settle at $79.33 on the day, Bloomberg reports.

Oil

Oil falls on Europe data, U.S. supplies

Source: 
Bloomberg

A drop in the purchasing managers index for the euro area, combined with a report of an increase in U.S. crude stockpiles last week sent oil prices lower early Thursday. West Texas Intermediate crude for December delivery fell 26 cents to $74.32 a barrel in electronic trading on the Nymex, while in London January Brent was down 39 cents to $77.71, Bloomberg reports.

Oil

Fed views pressure oil prices

Source: 
Reuters

Oil prices fell again Wednesday after minutes released by the Federal Reserve revealed some concerns about the state of the economy, outweighing talk of a possible production cut by OPEC. U.S. benchmark crude settled 3 cents down at $74.61 a barrel on the Nymex, while in London Brent finished the trading day 37 cents lower at $78.10, Reuters reports.

Oil

Oil mixed on Kurdish bomb attack

Source: 
Bloomberg

News of a suicide car bomb attack in Iraq’s Kurdish region sent international crude prices higher early Wednesday, although analysts expected the spike to be short-lived given the supply glut on the market, and the U.S. benchmark crude was trading lower. West Texas Intermediate crude for December delivery was down 11 cents to $74.50 a barrel in electronic trading on the Nymex, while in London January Brent was 32 cents higher at $78.79, Bloomberg reports.

Oil

Oil prices down ahead of OPEC decision

Source: 
Bloomberg

Oil prices closed lower as traders continued to watch for signs of an OPEC production cut in response to the global bear market, Bloomberg reports. Brent was down 84 cents to $78.47 a barrel in London, while West Texas Intermediate fell 1.4 percent, losing $1.03 to $74.61 a barrel.

Oil

Oil price drop, sanctions threaten Russia's economy

Source: 
Bloomberg

Russia's economy would fall into a recession next year, according to Finance Minister Anton Siluanov, if global oil prices drop to $60 a barrel and additional Ukraine-related sanctions are imposed, Bloomberg reports.

Oil

Oil steady on speculation over OPEC cut

Source: 
Reuters

Speculation that OPEC members could be pushing for a production cut in advance of their scheduled meeting in Vienna Nov. 25 was supporting oil prices early Tuesday. U.S. benchmark crude was up 11 cents to $75.75 a barrel in electronic trading on the Nymex, while in London Brent slipped just 5 cents to $79.26, Reuters reports.

Oil

Oil slips as Japan stumbles

Source: 
Bloomberg

Word that Japan has slipped into recession kept pressure on oil prices Monday ahead of a key OPEC meeting later this month. West Texas Intermediate crude for December delivery dropped 18 cents to settle at $75.64 on the Nymex, while in London Brent finished the trading session 10 cents lower at $79.31, Bloomberg reports.

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