Oil prices jumped to a two-week high on Thursday, extending a rally into a sixth consecutive session. U.S. government data showed on Wednesday that domestic crude production had the steepest weekly fall since July 2016. Some analysts and traders believe the decline was caused by temporary factors such as production shutdowns in the Gulf of Mexico due to Tropical Storm Cindy and maintenance in Alaska.
read more... 30/06/2017
Oil rose above the $47 a barrel on Wednesday due to the biggest decline in weekly U.S. output since July 2016. There was additional support from lower U.S. gasoline inventories.
read more... 29/06/2017
Oil prices soared for a fourth consecutive session on Tuesday supported by a weaker dollar. Also, short-term financial investors scaled back their net long positions in Brent on the ICE at their lowest level in a year and a half.
read more... 28/06/2017
Oil prices surpassed last week's seven-month lows on Monday. The higher supplies threaten OPEC efforts and its partners to reduce global oil inventories with production cuts. Investors in U.S. crude futures and options increased their bets against a further rise in oil prices.
read more... 27/06/2017
Oil traded higher on Friday, due to falling crude inventories in the U.S., as a fundamental factor that supported prices.
read more... 26/06/2017