Oil on its best rally in more than five years
Oil prices rose again yesterday as the commodity underpinning the north-east economy enjoys its longest rally in more than five years.
oil prices
Few escape routes left from another bear market in oil
Oil’s back in a bear market and investors remain unmoved by last month’s agreement to prolong supply cuts, leaving OPEC and its allies with few remaining tools to boost prices.
Oil holds slide into bear market on global supply gain
Oil held losses after tumbling into a bear market as rising global supply offset efforts by OPEC and its allies to drain a glut.
Oil’s slide stalls as investors weigh stockpiles against Libya
Oil’s slide below $45 a barrel stalled as investors weigh a forecast decline in U.S. crude stockpiles against a revival in output from Libya, which is exempt from the OPEC-led output cuts.
Oil below $45 as US drillers extend record rig streak
Oil traded below $45 a barrel after a fourth weekly loss on speculation that a record expansion by U.S. drillers will blunt OPEC-led efforts to rebalance an oversupplied market.
Forward curve for oil prices looks awful for Opec
As if a mini-collapse in oil prices wasn’t bad enough for OPEC, the pattern in which futures contracts are trading years from now has flipped into the worst possible structure for the exporter group.
Oil set for longest run of weekly losses since 2015
Oil headed for the longest run of weekly losses since August 2015 as U.S. crude stockpiles remain stubbornly high and as Libyan production climbs toward the most in four years.
Oil guru who predicted downturn says Opec should have cut deeper
The oil guru who predicted the market rout in 2014 said OPEC and its allies should have gone much further when they extended their supply deal last month.
Opinion: Oil prices are set to rebound
The latest selloff in oil prices have left speculators in a predicament: The fundamentals continue to look poor with unimpressive drawdowns in crude oil stocks, but there is a general consensus that the extension of the OPEC deal should push the market towards a rebalancing over the next few quarters.
Output rose most in six months during Opec meeting on extending cuts
As OPEC and its partners last month agreed on prolonging production cuts, the group’s output was climbing the most since November as members exempt from the deal restored lost supply.
Oil edges up above $46 as Saudi Arabia sees supply glut easing
Oil edged up following its plunge last week after Saudi Arabia and Russia said crude markets will rebalance.
Oil heads for third weekly loss as US to Nigeria prolong glut
Oil headed for a third weekly drop as rising supplies from the U.S. to Nigeria showed that OPEC is still struggling to clear a global oil surplus.
Crude’s biggest slump since March shown in three charts
Oil’s 5 percent tumble Wednesday, the biggest slide since March, followed government data that showed U.S. crude and fuel stockpiles unexpectedly soaring at a time of year when they normally decline. Here are three charts showing what made oil bulls run scared.
Update: Oil slides despite limited impact from Gulf diplomatic crisis
Oil erased earlier gains as a diplomatic clash involving OPEC members Saudi Arabia and Qatar was seen having limited impact on the group’s policy.
Oil rallies as US industry stats signal 8-week stockpile drop
Oil rebounded from the lowest close in more than two weeks after industry data showed U.S. crude stockpiles extended declines, easing an inventory overhang.
FTSE 100 on course to top all-time high, despite Brent dipping
London’s premier index rebounded to within a whisker of a new mid-session record after choppy trading for the pound handed a boost to blue-chip stocks.
Opinion: Crude could hit $60 if nations stick to output cuts
As expected following comments ahead of the meeting on behalf of Saudi Arabia and Russia, OPEC members have agreed to prolong the existing production curtailment (a cut of 1.8m bbl/d including Russia’s cuts) to the first quarter of 2018. OPEC has a self-imposed goal of bringing stocks down from a record high of 3bn bbls to the five-year average of 2.7bn bbls.
Oil below $50 amid Opec deal pessimism
Oil traded below $50 a barrel after OPEC underwhelmed investors with its production-cut extension deal.
Production cuts have worked, but we need an extension, Kemp and de Leeuw say
Oil nation’s efforts to re-balance the market via a deal on production cuts have worked, industry experts said, adding that extending the agreement is the right move.
Opinion: US shale immune to an oil price crash in 2017
Since OPEC announced the production cut deal at the end of November, industry analysts have been warning that rising production from producers outside the deal—U.S. shale in particular—is effectively capping the oil price gains from that agreement.
Oil up as US supply decline signals Opec progress
Crude markets are getting some encouragement from the U.S. as supplies fell for a sixth week -- a sign that OPEC-led production curbs are starting to be felt in the world’s biggest oil-consuming nation.
Oil bulls on top as cuts start to drain stockpiles
Oil is trading near $50 again, OPEC seems to be losing its ability to influence prices and a wave of new supply is hitting the market from Texas to Libya. For some, there’s never been a better time to buy.
Oil steady as US stockpiles dropping again
Oil was steady before government data forecast to show U.S. crude stockpiles fell for a fifth week, further reducing an inventory surplus.
Oil stable as Saudi Arabia, Russia say cuts could extend beyond 2017
Oil held onto Friday’s gains as Saudi Arabia and Russia said they’re prepared to extend production cuts into next year to clear the global surplus.
Hedge funds exit before Opec-driven oil rally disappears
Hedge funds jumped out of the oil market just in time.