Oil advanced for the first time in three days amid speculation that an escalating conflict in Libya may pare a global surplus that’s driven crude into a bear market.
Crude oil fell, heading for a fifth weekly loss on concern that OPEC’s refusal to cut production will worsen a global glut. Trading volume on the day after Christmas was the lowest this year.
Oil rose for the second time in three days after the U.S. economy expanded at the fastest pace in more than a decade in the third quarter.
Crude oil fell, extending a fourth weekly decline on concern OPEC’s refusal to cut production will worsen a global glut.
Crude oil fell, extending a fourth weekly decline on concern OPEC’s refusal to cut production will worsen a global glut.
Crude oil prices rebounded from the lowest closing levels since May 2009 as comments from Saudi Arabia’s oil minister yesterday added to the most volatile market in three years.
Crude prices in London and New York rebounded from the lowest closing levels since May 2009 as comments from Saudi Arabia’s oil minister yesterday added to the most volatile market in three years.
The global price of crude extended a rally for a second day amid speculation that oil’s plunge to a five-year low may have been excessive.
Crude oil traded near a five-year low as Russia reiterated that it will keep production steady, echoing OPEC’s strategy of refraining from curbing supply to tackle a global surplus.
The U.S. Congress is talking about allowing unfettered oil exports for the first time in almost four decades. Its timing couldn’t be worse.