Tag: WTI
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Oil prices steady after shake-out on supply worries
Oil prices steadied on Wednesday after slipping prices on concerns that Saudi Arabia and Russia will pump more crude in response to falling global crude inventories and rising consumer prices. Saudi Arabia and Russia have discussed raising OPEC and non-OPEC oil production by one million barrels per day (bpd) to counter potential supply shortfalls from…
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Supply cuts,strong demand, pushes oil price close to late-2014 highs
Oil prices held firm on Friday near three-year highs reached earlier this week as ongoing OPEC-led supply cuts, as well as strong demand, gradually draw down excess supplies. Brent crude oil futures were up at 73.79 dollars per barrel at 0440 GMT. U.S. West Texas Intermediate (WTI) crude futures down 2 cents at 68.40 dollars…
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Oil prices rise to $70 on strong economy amid OPEC cuts
Oil prices were firm on Wednesday, receiving ongoing support from healthy economic growth as well as from supply restrictions led by a group of producers around the Organisation of the Petroleum Exporting Countries (OPEC) and Russia. Spot Brent crude oil futures, the international benchmark for oil prices, were at 70 dollars a barrel at 0102…
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Price of brent crude oil rises to all time high since December 2014
The price of brent crude oil rose to 70 dollars a barrel on Monday, supported by ongoing output cuts led by OPEC and Russia, and ignoring a rise in U.S. and Canadian drilling activity that points to higher future output in North America. Brent sweet crude futures, the international benchmark for oil prices, were at…