Oil prices fell on Wednesday after a report showed a rise in U.S. crude inventories, but global markets remained tense amid an intensifying political crisis in Venezuela, tightening U.S. sanctions on Iran, and ongoing OPEC supply cuts.
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Oil prices dipped on Friday on hopes that producer club OPEC will soon raise output to make up for a decline in exports from Iran following a tightening of sanctions on Tehran by the United States.
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Oil prices dipped on Thursday as record U.S. output and rising crude stockpiles dampened the impact on markets of tighter U.S. sanctions on Iran and producer club OPEC’s continued curbs on supply.Read More...
Oil prices were near 2019 highs on Tuesday after Washington announced all Iran sanction waivers would end by May, pressuring importers to stop buying from Tehran.
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Oil prices surged about 3% at midday on Monday, hitting fresh 2019 highs, after the Trump administration announced that all oil buyers will have to end imports from Iran in just over a week or be subject to U.S. sanctions.
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The United States is expected to announce on Monday that buyers of Iranian oil need to end imports soon or face sanctions, a source familiar with the situation told Reuters, triggering a 3 percent jump in crude prices to their highest for 2019 so far.
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President Nicolas Maduro is funneling cash flow from Venezuelan oil sales through Russian state energy giant Rosneft as he seeks to evade U.S. sanctions designed to oust him from power, according to sources and documents reviewed by Reuters.
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ConocoPhillips on Thursday announced it has struck an agreement to sell its U.K. oil and gas operations for nearly $2.7 billion, setting up its exit from the North Sea.
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Oil prices steadied on Wednesday after Brent crude hit a 2019 high above $72 a barrel in early morning trade, supported by steady economic growth in China and data showing U.S. crude stockpiles shrank last week.
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Oil prices fell on Monday as investors weighed mixed signals on global supply and signs that Russia may exit coordinated production cuts by nearly two dozen nations.
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Oil prices fell on Thursday after U.S. crude stockpiles surged to their highest levels in almost 17 months amid record production.
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A resurgence in fighting around the Libyan capital of Tripoli this week has driven U.S. forces to pull out of the country and is providing a new upside risk to global oil prices, underscoring the OPEC producer’s importance to markets and the fragility of its supply.
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The White House is planning to roll out an executive order next week that aims to cut regulations, spur interstate pipeline construction and lower energy costs, according to two senior administration officials.
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Edward Morse, the global head of commodities research at Citi Group, gave a bullish outlook for global oil markets Sunday, saying that current inventories were at a “constructive” level.
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Libya’s eastern military leader has ordered his forces to march on Tripoli, sparking concerns that open war could soon break out between the main political factions in a key oil-producing nation.
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Oil inched toward the $70-a-barrel mark in London and then stumbled Wednesday, after a report showed U.S. crude supplies rising by the most since January and production reaching a record.
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Oil prices rose to fresh highs for the year on Tuesday, after a U.S. official said Washington is considering more sanctions on Iran and a key Venezuelan export terminal halted operations.
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Oil prices fell on Thursday, extending losses into a second straight session, after widely watched data showed a surprising increase in U.S. stocks.
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Oil prices slipped Wednesday morning, interrupting a recent rally with news of sharply increased U.S. crude stockpiles released by the American Petroleum Institute Tuesday night.
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The complex web of U.S. pipelines, tanks and export terminals that’s helped make America the world’s top oil producer is causing a headache for some crude buyers.
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