Prices

Oil

Oil price falls 2 pct, biggest drop since April

The price of oil plunged 2 percent Friday, the largest one-day drop since April, as Libyan oil appears poised to return to the market while global demand looks to be muted.

Benchmark U.S. crude for August delivery fell $2.10 cents to close at $100.83 a barrel on the New York Mercantile Exchange. It fell 3.1 percent this week, and is down $4.54 a barrel, or 4.3 percent, so far in July.

Oil

Oil price sheds gains as supply worries ease

The price of oil began to fall again on Friday, giving up most of the gains it had made the previous day in the first rally in two weeks.

Benchmark U.S. crude for August delivery was down 54 cents to $102.37 a barrel at 0815 GMT in electronic trading on the New York Mercantile Exchange. The contract closed up 64 cents at $102.93 a barrel on Thursday.

Oil

Oil prices to keep dropping on supply boost from Libya, US: Analysts

Source: 
Bloomberg

Wall Street analysts monitored by Bloomberg say revived oil production and shipping in Libya and continued growth in U.S. production will likely lead to declining prices in the second half of the year.

Oil

Oil rises for first time in 2 weeks, near $103

The price of oil bounced back late Thursday and rose for the first time in two weeks.

Benchmark U.S. crude for August delivery gained 64 cents to $102.93 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils, rose 54 cents to $109.01 on the ICE Futures exchange in London.

Oil

Oil prices continue to fall as supplies grow

Oil prices extended losses Thursday as the outlook for supply remained robust.

Benchmark U.S. crude for August delivery was down 36 cents to $101.93 a barrel at 0940 GMT in electronic trading on the New York Mercantile Exchange. The contract fell $1.11 to close at $102.29 on Wednesday.

Brent crude, a benchmark for international oils, inched down 1 cent to $108.46 on the ICE exchange in London.

Oil

Oil on 2-week slide even with Mideast turmoil

NEW YORK (AP) — The price of oil fell for the ninth straight day Wednesday as global supplies continue to flow despite unrest in the world's most important oil-producing region.

The prolonged drop could lead to lower gasoline prices for U.S. drivers in the weeks ahead.

U.S. benchmark crude fell $1.11 Wednesday to close at $102.29 in New York. That's slightly lower than the price on June 6, before insurgents seized the Iraqi city of Mosul, and 5 percent below the ten-month high of $107.26 reached June 20 at the height of concerns over the insurgency. Schork expects to see oil fall further, to under $100 per barrel, in the coming weeks.

Oil

Oil prices up slightly ahead of US stockpile data

TOKYO (AP) — Oil prices were steady Wednesday ahead of the release of figures on U.S. stockpiles of crude and refined fuels that will be a key indicator of expected demand.

Benchmark U.S. crude for August delivery was down 5 cents at $103.35 a barrel at 0805 GMT in electronic trading on the New York Mercantile Exchange. The contract fell 13 cents to close at $103.40 on Tuesday.

Oil

Oil slips closer to $103 as supply fears recede

The price of oil slipped closer to $103 a barrel Tuesday as concerns about supply disruptions continued to fade.

Benchmark U.S. crude for August delivery fell 13 cents to close at $103.40 a barrel on the New York Mercantile Exchange. Brent crude, a benchmark for international oils used by many U.S. refineries, fell $1.30 to close at $108.94 on the ICE Futures exchange in London.

WBM Management Inc.
Oil

EIA sees greater U.S. crude production, higher international prices

U.S. crude production next year will average 9.3 million barrels a day, the highest level since 1972, according to the short term outlook released Tuesday by the Energy Information Administration.

And it expects the role of imports will continue to shrink. The EIA said the share of consumption of crude brought in from outside the country will drop to 22 percent in 2015, the lowest level, noted Administrator Adam Sieminski, in 45 years.

Oil

Oil slips further as supply fears recede

The price of oil slipped to near $103 a barrel Tuesday as concerns about possible supply disruptions continued to fade.

Benchmark U.S. crude for August delivery was down 12 cents to $103.41 a barrel at 0450 GMT in electronic trading on the New York Mercantile Exchange. It lost 53 cents to $103.53 on Monday.

Brent crude, a benchmark for international oils, fell 26 cents to $109.98 in London.

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