Home / Tag Archives: Brent crude (page 3)

Tag Archives: Brent crude

U.S. crude prices head towards new 2015 low as drilling rebounds

An oil tanker is seen on Lake Maracaibo in Venezuela's western state of Zulia March 1, 2008. REUTERS/Jorge Silva

SINGAPORE – U.S. crude oil prices dipped in early Asian trading on Monday, heading towards last week’s 2015 lows as a rebound in drilling activity, a strong dollar and brimming storage facilities weighed on prices. U.S. West Texas Intermediate (WI) crude futures <CLc1> were trading at $34.48 per barrel at 0008 GMT, down 25 cents from their last settlement and ...

Read More »

U.S. oil price gap vanishing for first time in shale era

U.S. oil price gap vanishing for first time in shale era

HOUSTON – The once-deep discount for benchmark U.S. crude oil prices versus global rates is about to disappear for the first time since the rise of the shale oil boom, a sudden reversal that highlights the market’s ongoing flux. On Monday, U.S. West Texas Intermediate for delivery in March was trading just 20 cents below global Brent crude for the ...

Read More »

Oil futures slip further after oversupply forecast

TOKYO – Crude oil futures slipped in early Asian trade, adding to a slump on Friday following a forecast from the International Energy Agency (IEA) that the global glut of oil is likely to deepen next year. Brent crude, the global benchmark, fell below $38 a barrel for the first time since December 2008 on Friday after the IEA said ...

Read More »

Russian deputy finance minister: lower oil price, more spending cuts

LONDON – Russia’s government will react to fresh falls in the price of oil by cutting fiscal spending above and beyond what has already been done, Deputy Finance Minister Alexei Moiseev said on Tuesday. He was speaking as oil prices crashed to new 2009 lows, with Brent crude briefly under $40 a barrel and U.S. crude under $37. Moiseev told ...

Read More »

Plunging oil prices drag down Wall Street

(Reuters) – Wall Street was lower at the open on Monday as Brent crude prices fell to their lowest in nearly seven years after OPEC’s meeting ended last week without a reference to its output ceiling. Brent crude prices <LCOc1> fell to $38.80, while a stronger dollar made it more expensive to hold crude positions. The dollar <.DXY> rose for ...

Read More »

Stocks are mixed in early trade; oil price slips

NEW YORK — Stocks were in mixed in early trading Wednesday ahead of a European Central Bank meeting where further stimulus is expected to be announced as well as a speech by the head of the Federal Reserve. Energy stocks fell along with the price of oil. KEEPING SCORE: The Dow Jones industrial average lost seven points, or 0.1 percent, to ...

Read More »

Oil down on bets OPEC won’t cut output, gasoline rally supports

NEW YORK – Crude futures were down on Tuesday on bets that OPEC will not cut output to stem a supply glut when the world’s biggest oil producers meet this week, although a rally in U.S. gasoline and a weak dollar limited losses on the petroleum complex. Trading has been sluggish ahead of the Organization of the Petroleum Exporting Countries’ ...

Read More »

Developers of Israel’s Leviathan field sign preliminary Egypt gas deal

JERUSALEM – Natural gas from Israel’s vast Leviathan offshore gas field will be pumped to Egypt via an existing subsea pipeline for up to 15 years under a preliminary deal announced by the field’s developers on Wednesday. Leviathan, which is expected to begin production in 2019 or 2020, will supply Egypt’s Dolphinus Holdings with up to 4 billion cubic meters ...

Read More »

Oil falls as spotlight returns to global glut

LONDON – Crude oil futures fell on Wednesday as investor focus shifted back to a deep global supply glut and away from the threat of escalating violence in the Middle East, which pushed prices to two-week highs the previous day. Brent fell 48 cents at $45.64 a barrel at 0900 GMT, reversing brief gains earlier in the session. The benchmark ...

Read More »

Oil rises on Middle East tensions, weaker U.S. dollar

LONDON – Oil prices rose three percent on Tuesday as tensions in the Middle East escalated following the downing of a Russian fighter jet near the Syrian-Turkish border, and a weaker dollar provided an incentive for investors to buy more oil. Brent futures for January were trading at a near two-week high of $46.23 a barrel at 1420 GMT, a ...

Read More »