Tag: prices

BUSINESS

Oil Prices Jump

Oil prices jump after reportedly being flat on Friday. This new move in prices comes against the backdrop of a wave of drone attacks on oil facilities in Saudi Arabia. Brent crude on Sunday traded at $70.98 per barrel on oil futures markets, an 18 percent surge from Friday’s close of $60.15, before falling back to about a 12 percent […]

BUSINESS

Oil Prices Jump!

Oil prices have ratchet up to more than $1 per barrel on Thursday on expectations that falling prices could lead to production cuts. This move also comes against a steadying of the yuan currency after a week of turmoil spurred by an escalation in U.S.-China trade tensions. Brent crude was up $1.35 at $57.58 a barrel and U.S. West Texas […]

BUSINESS

Oil Prices Hang Steady

Oil prices steadied on Friday after steep losses in the previous session, supported by rising tensions between the United States and Iran, but weighed by concerns slowing economic growth could dent global oil demand Brent crude futures rose 20 cents to $62.13 a barrel, while West Texas Intermediate crude futures fell four cents to $55.26 a barrel Marcia Wright, Readers […]

BUSINESS

Oil Prices Set To Move Downwards

Faced with a buildup of high inventories and global economic slowdown, oil prices are set for their biggest weekly drop for this year. Brent crude rose 12 cents to $67.88 a barrel, but the global benchmark remained on course for a weekly decline of about six percent. U.S. West Texas Intermediate crude was unchanged at $57.91 a barrel. The benchmark […]

BUSINESS

Oil Prices Show Upward Trend

Social and political turbulence within major oil producing countries, Venezuela and Libya have pushed oil prices up one percent on Friday. The market shakeup is due to supply cuts from Venezuela and Iran as well as the ongoing conflict in Libya. The situation feeds the perception of a tightening crude market; however, positive Chinese economic data has allayed fears of […]

BUSINESS

Oil Prices Show 3% Drop

Oil prices fell about three percent on Friday and were set for a second straight week of declines after disappointing U.S. job growth revived concerns about a slowing global economy and weaker demand for oil. Brent crude futures fell $1.85, to $64.45 a barrel. The international benchmark was on track to fall about one percent for the week. Marcia Wright, […]

BUSINESS

Oil Prices On The Rise

Oil prices rose early on Monday, extending last week’s gains amid rekindled hopes that the U.S. and China could reach a trade deal. There are also growing signs of a tightening market, driven by OPEC’s production cuts and U.S. sanctions on Iran and Venezuela. West Texas Intermediate (WTI) is up 0.70 percent at $56.13. Readers Bureau Edited by Jesus Chan […]

BUSINESS

Oil Prices Show Upward Trends

Oil prices rose more than one percent on Friday after upbeat U.S. jobs data strengthened expectations for higher fuel demand and on signs that U.S. sanctions on Venezuelan exports have helped tighten supply. U.S. West Texas Intermediate futures were at $54.65, up 86 cents. Oil prices got a boost from Wall Street after surprisingly strong U.S. job growth data fed […]

BUSINESS

Oil Prices Plunge

Oil prices plunged to their lowest levels in over a year Thursday, deepening a sell-off fueled by concerns about oversupply as stock markets slumped on rising U.S. interest rates. U.S. West Texas Intermediate crude ended Thursday’s session down $2.29, or 4.8 percent, at $45.88, the lowest closing price since July 2017. Brent crude, the international benchmark for oil prices was […]

BUSINESS

Oil Prices Dip

Oil traded below $52 per barrel in New York, just striking distance from where it trended a week ago after OPEC and its allies announced output cuts, as traders weighed incremental U.S. shale growth against softer demand for 2019.                   West Texas Intermediate for January delivery fell $1.02 to $51.56 per barrel on the New York Mercantile Exchange Friday morning. Readers […]