Oil Prices Trade Higher on OPEC Revised Forecast Report

Oil prices traded higher on Thursday in Asia as the Organization of the Petroleum Exporting Countries (OPEC) revised its deficit forecast for next year. U.S. Crude Oil WTI Futures gained 0.1% to $58.84 by 12:18 AM ET (04:18 GMT). International Brent Oil Futures gained 0.4%. In a report released...

Oil Prices Stabilize on OPEC Supply Deficit Forecast

Oil prices steadied on Thursday with the market mood switching to relief as OPEC forecast a supply deficit next year, from doom and gloom over data showing a surprise increase in U.S. crude inventories. Brent futures rose 19 cents, or 0.3% to 63.61 a barrel by 01:00 GMT, after skidding 1% on...

Oil prices end lower after unexpected climb in weekly U.S. crude inventory data

Oil futures finished lower on Wednesday after U.S. government data showed an unexpected climb in domestic supplies of crude oil, as well as sizable gains in gasoline and distillate stockpiles. Prices showed little reaction to the Federal Reserve’s decision to hold its benchmark interest rate...

Oil Falls From 12-Week High as Report Shows U.S. Stockpile Build

Oil retreated from its highest close in almost three months after an industry report showed American crude inventories expanded last week, adding to concerns over weakening demand. West Texas Intermediate for January delivery fell 32 cents, or 0.5%, to $58.92 a barrel on the New York...

Oil Prices Recoil as Specter of Trade War, Weaker Demand Haunts Market

Oil prices slipped on Tuesday for a second straight session as the cons of a slowing global demand outlook outweighed the pros of OPEC's agreement with associated producers at the end of last week to deepen crude output cuts in early 2020. Brent futures were down 14 cents, or 0.2%, at $64.11 per...

Oil Steady as Stockpile Drop Forecast Weighed Against Trade War

Oil was little changed as investors weighed an expected drop in American crude stockpiles against the possibility of the U.S. imposing extra tariffs on a new $160 billion swath of Chinese goods this Sunday. West Texas Intermediate for January delivery was down 13 cents to $58.89/bbl on the...

Oil Near 12-Week High After Saudis Surprise With Output Curbs

Oil traded near the highest level in almost 12 weeks after Saudi Arabia surprised the market Friday with a significant supply cut beyond what was agreed to with fellow OPEC+ members. Futures in New York edged lower after climbing 1.3% Friday to cap a 7.3% weekly advance, the most since...