Oil jumps $1
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Crude oil futures are holding up after three days of moderate declines. Downward pressure on prices this week has been limited despite underlying concerns about increased output by OPEC+ and an eventual economic impact on demand from U.
Shares of energy companies rose alongside commodity futures on demand optimism. Surprisingly strong economic data in the U.S. and elsewhere, and falling stockpiles supported oil's first gain in four sessions.
Oil prices rose on Thursday, even as global trade tensions appeared to cool, while analysts pointed to low inventories and renewed Middle East risks as factors which were supporting the market.Brent crude futures were up 17 cents,
Oil futures extended losses to three sessions, but pulled up from early lows as the EIA reports a 3.9 million barrel weekly draw in U.S. crude oil stocks following large builds the previous two weeks.
Crude oil steadies as Trump’s 50-day Russia deadline eases supply risk; traders eye weak China data and tariff threats for next oil demand move.
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Oil prices rose on Thursday as analysts pointed to low inventories and renewed Middle East risks as factors supporting the market.
Crude oil fell for a second straight day after President Trump's 50-day deadline for Russia to end the war in Ukraine and avoid sanctions calmed concerns about a short-term supply disruption
Refined product prices have so far outperformed crude futures. September Nymex RBOB was up 0.8ct at $2.133/gal and August RBOB was 1.6ct higher at $2.1816/gal. September ULSD rose 2cts to $2.3875/gal, and August ULSD was up 2.7cts at $2.4165/gal.
Crude oil futures rise as markets anticipate Trump's 'major announcement' on Russia, impacting global oil supplies and prices.
HOUSTON] Oil prices rose US$1 on Thursday (Jul 16) after drones struck Iraqi Kurdistan oil fields for a fourth day, pointing to continued risk in the volatile region. Read more at The Business Times.
Crude futures were lower for a third session in a row with the market refocusing on supply and demand balances after putting concerns about U.S. tariffs and Russia sanctions on hold.