Prices

Oil

Oil steady despite stock build

Source: 
Reuters

Escalating conflict in Yemen countered news of another sizeable build in U.S. crude stockpiles, keeping oil prices steady early Thursday. U.S. benchmark crude lost 10 cents to $56.06 a barrel in electronic trading on the Nymex, while in London Brent gained 5 cents to $62.78, Reuters reports.

Oil

Oil mixed on Yemen fighting, stockpile build

Source: 
Reuters

A growth in stockpiles sent U.S. benchmark crude lower Wednesday, while renewed fighting in Yemen pushed the international benchmark higher. West Texas Intermediate crude for June delivery lost 45 cents to settle at $56.16 a barrel on the Nymex, while in London Brent gained 65 cents – more than 1 percent – to close at $62.73, Reuters reports.

Oil

Oil drops again on supply glut

Source: 
Reuters

Signs of another build in U.S. crude inventories were keeping pressure on oil prices early Wednesday. U.S. benchmark crude for June delivery was down 51 cents to $56.10 a barrel in electronic trading on the Nymex, while in London Brent fell 45 cents to $61.63, Reuters reports.

Japan logs 1st trade surplus in nearly 3 years on cheap oil

TOKYO (AP) — Japan posted its first monthly trade surplus in nearly three years in March thanks to falling import costs from cheaper oil prices, along with a modest recovery in exports.

But the stronger-than-expected surplus is unlikely to persist, analysts said.

Oil

Oil drop, mixed earnings news a drag on stock market

NEW YORK (AP) — Tepid corporate results and another drop in the price of crude oil pulled stocks mostly lower on Tuesday.

Crude oil fell $1.12 to close at $55.26 a barrel in New York. Brent crude, a benchmark for international oils used by many U.S. refineries, lost $1.37 to close at $62.08 a barrel in London.

Oil

Oil slips on supply expectations

Source: 
Reuters

Expectations that data will show another build in U.S. stockpiles were pressuring oil prices early Tuesday. U.S. benchmark crude for May delivery was down 15 cents to $56.23 a barrel ahead of the expiration of the contract, while in London Brent lost 17 cents to $63.28, Reuters reports.

Oil

At CERAWeek, ConocoPhillips CEO predicts volatility in oil price future

Source: 
FuelFix

ConocoPhillips CEO Ryan Lance told the IHS CERAWeek conference that volatility in the oil market is here to stay, and companies that slow production hoping to ramp up later when prices increase will only contribute to the trend, FuelFix reports.

Oil

Oil settles mostly higher after volatile trading

Source: 
Reuters

A report of a drop in stockpiles at the Cushing delivery point helped support oil prices Monday, Reuters reports. U.S. benchmark crude settled 64 cents higher at $56.38 a barrel, having bounced around in a $2 spread throughout the day, while in London Brent finished flat at $63.45.

Oil

Raymond James lowers oil price projections

Source: 
FuelFix

Saying that recent gains in oil prices aren’t sustainable, financial services company Raymond James is predicting WTI crude will average $53 a barrel this year and $65 next year, FuelFix reports.

Oil

Industry adjustment to lower oil prices to be volatile, painful

Source: 
The Financial Times

Analysts believe that by 2017, U.S. shale drillers will become the swing producers in the industry, increasing and decreasing production with changes in prices, The Financial times reports.

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