Oil Prices Settle Lower on IEA Forecast
Oil – Reuters reported that the International Energy Agency (IEA) lowered its forecast for oil demand growth for the 3rd month in a row, causing Brent prices to decline more sharply than US crude.
Articles Tagged "brent"
WTI Oil Trades Close to Highest in a Week as US Crude Stocks Increase
Oil – Bloomberg reported that West Texas Intermediate traded close to the highest level in a week as US stockpiles increased to 389 million bpd, its highest since July 1990.
Oil Posts Biggest Gain in Months on Weak Dollar
Oil – Reuters reported that Brent crude oil futures posted their biggest gain since December as the US dollar weakened, drawing investors to commodities.
Oil Falls to Lowest Daily Drop in 5 Months, US Crude Inventories Reach Highest Since 1990
Oil – Reuters reported that oil prices dipped 3%, its lowest daily drop in 5 months, as crude inventories in the US reach their highest levels since 1990 according to the EIA.
Crude Settles as Traders Weigh Concerns About US Pipeline, Demand
Oil – Reuters reported that Brent crude settled down 39 cents per barrel at $110.69 while US crude settled slightly higher up to 12 cents at $97.19 per barrel as traders weigh concerns about demand as well as the possibility of a longer pipeline outage in the Midwest.
Oil Slides After Parliament Rejects Cyprus Bank Tax
Oil – Bloomberg reported that West Texas Intermediate oil fell after the Cyprus bank deposit tax was rejected, increasing concern that the debt crisis in Europe will worsen.
Oil Stays Below $109 on Weaker Outlook for Demand Growth
Oil – Reuters reported that oil stayed below $109 per barrel due to a weaker outlook for demand growth in top consumers China and the US.
WTI Oil Trades Highest in 2 Weeks, Shrinks Discount to Brent
Oil – Bloomberg reported that West Texas Intermediate oil shrunk its discount to Brent to lowest level in 7 weeks as it traded near the highest level since the beginning of March.
US Energy Cuts 2013 Oil Projection to $91.92
Oil – Bloomberg reported that the United States Energy Information Administration lowered its crude oil price projections for this year. West Texas Intermediate will average $91.92/barrel, which is 1% lower than its February estimate.
WTI Oil Advances on US Jobs Data
Oil – Bloomberg reported that West Texas Intermediate oil advanced after positive jobs data gave a boost to the US economy.
