Oil prices are on the rise this morning, with WTI crude oil up about 31 cents this morning. Crude picked up 74 cents (1.3%) yesterday amid news of a pipeline disruption in Europe. WTI crude prices are currently trading at $58.30 this morning, the highest they’ve traded since early December.
Oil markets are generally higher this morning, supported by Nigerian oil production instability. Oil prices saw large gains (71 cents, or 1.3%) on Friday thanks to threats of strikes from the Nigerian union of works. Prices are continuing their gains this morning, though so far gains have been[…]
After seeing some small gains during yesterday’s trading session, prices are headed lower across the board. Crude picked up a meager 14 cents yesterday, but gave up those gains and more overnight. Currently, crude prices are trading at $56.84, 78 cents (1.36%) below yesterday’s close.
Markets reversed their recent gains yesterday, with oil products posting some major losses. Crude oil dropped nearly a dollar yesterday (-1.5%) as markets turn from OPEC to market fundamentals. Crude oil is currently trending fairly flat at $57.42, with early morning losses reversing to just a[…]
After a significant run in prices on Friday that added nearly $1.00 to crude prices, markets are falling back in line with their previous trends. Traders were enthusiastic on Friday that OPEC and Non-OPEC producers agreed to a deal extension, but that enthusiasm has faded today as reality sets in.[…]
OPEC officially extended their product cuts through the end of 2018, which caused markets to run up initially before a steep sell-off, and now prices are back near where they started. Crude prices gave up 43 cents (0.7%) yesterday in anticipation of the OPEC announcement, and are today struggling[…]
Oil markets managed to eke out some gains yesterday despite trading lower for most of the day. Light volumes have kept prices from gyrating too significantly. Crude picked up a meager 13 cents yesterday, but gave up those gains and more overnight. Currently, crude prices are trading at $57.87, 12[…]
Prices are losing steam this morning after hitting new annual highs on Friday, with WTI crude at one point peaking above $59. On Wednesday, prices opened at $57.12, and gained 90 cents to close above $58. The Thanksgiving holiday was not enough to slow down markets, and prices ended Friday at[…]
Crude markets saw some small gains yesterday, boosted by an API report showing a 6.4 million barrel stock draw, far more than market expectations. Crude prices gained 45 cents yesterday, rising steadily higher throughout the day after a down day on Monday. This morning, crude oil prices opened with[…]
After moderate losses yesterday, oil markets are heading towards higher ground. Oil prices yesterday gave up 60 cents, a notable -1%, as the December contract expired, showing that markets lack confidence in physical supply tightness next month. The contract now rolls over to January, which traded[…]