Prices

Oil

Sieminski: Without US crude, oil would climb to $150

Source: 
Reuters

The spike in U.S. crude production from shale formations like the Bakken, Eagle Ford and Permian Basin has kept a lid on oil prices, Energy Information Administration chief Adam Sieminski told Reuters in an interview Wednesday, adding that otherwise given the conflicts in the Middle East and North Africa the going rate would have hit $150 a barrel.

Oil

Wood Mackenzie warns of plummeting crude prices

Source: 
FuelFix

With new technology consistently boosting production, U.S. crude prices could fall as much as $30 a barrel below international benchmark Brent unless the U.S. ban on exports is lifted, according to an analysis from Wood Mackenzie, FuelFix reports.

Oil

Oil down again on stronger supply, weaker demand

Source: 
Reuters

Increased crude exports from Iraq and Libya coupled with weak economic data from Europe was pressuring oil prices early Wednesday. U.S. benchmark crude slipped 5 cents to $91.50 a barrel in electronic trading on the Nymex, while in London Brent was 30 cents lower at $96.54, Reuters reports.

Oil

Oil mixed on continuing supply pressures

Source: 
Reuters

Ample crude supplies were continuing to outweigh concerns about tensions in the Middle East Tuesday. U.S. benchmark crude for November delivery gained 69 cents to settle at $91.56 a barrel on the Nymex, while in London Brent crude dropped 12 cents to close at $96.85, Reuters reports.

Oil

Oil gains on China data

Source: 
Bloomberg

An increase in a Chinese manufacturing gauge beyond analysts’ expectations sent oil higher early Tuesday. West Texas Intermediate crude for November delivery gained 61 cents to $91.48 a barrel in electronic trading on the Nymex, while in London Brent was 40 cents higher at $97.37, Bloomberg reports.

Oil

Another oil price slide on China data

Source: 
Bloomberg

An official’s pessimistic view of China’s economic growth gave a further downward push to oil prices Monday. The expiring October contract for West Texas Intermediate crude dropped 89 cents to $91.52 a barrel on the Nymex, the lowest close since May, 2013, while in London November Brent shed 1.4 percent to settle $1.42 lower at $96.97, Bloomberg reports.

Oil

Oil price decline continues in bearish market

Source: 
Reuters

The now familiar combination of ample supply alongside the expectation of “downbeat” demand weighed on oil prices again Monday. U.S. benchmark crude was down 50 cents to $91.91 a barrel in electronic trading on the Nymex ahead of the expiration of the October contract later in the day, while in London November Brent dropped 67 cents to $97.72, Reuters reports.

Oil

Oil mixed on strong dollar, rising inventories

Source: 
Bloomberg

Rising inventories and a dollar gaining on the expectations of an interest rate hike pressured oil prices Friday. West Texas Intermediate crude for October delivery fell 66 cents to $92.41 on the Nymex but ended the week slightly higher, while in London November Brent settled up 69 cents to $98.39, an increase of 1.3 percent on the week, Bloomberg reports.

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.

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