Tag Archives: Oil

Oil Prices Stabilize as OPEC and Russia Continue Cutting Supply

The Organization of the Petroleum Exporting Countries continues keeping its promise of decreasing oil supply and that stabilized oil prices and brought it to above $501 a barrel from its $30 lows. In May meeting, OPEC and Russia agreed to … Continue reading

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Oil Outlook – Iran and Nate

Crude oil has fallen slightly this week, with WTI closing at $49.44 and Brent at $55.72. Prices fell on Thursday due to increased exports from the US. On Friday, fear of refineries closing from Tropical Storm Nate depressed oil prices. … Continue reading

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Oil Prices Declined Ahead of Hurricane Irma

Oil prices lowered on Friday as investors feared the potential impact of Hurricane Irma on refineries located on the east coast. Light, sweet crude oil futures for October delivery declined by $1.61, or 3.3% to $48.48 a barrel on the … Continue reading

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Takeaways from International Petroleum Week

The International Petroleum Week, hosted in London, is an excellent opportunity to gauge the standing of the oil industry, with traders and executives making the trip from around the world. Only a year ago, the event boasted a somber mood, … Continue reading

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Winner From Election: Futures

Donald Trump’s acceptance speech erased major losses in Dow Futures Wednesday due to his mollifying tone and focus on the economy. Talking about the economy in his speech caused traders to reconsider what a Trump Presidency would mean for growth … Continue reading

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OPEC Gains Consensus for Cuts

Members of the Organization of the Petroleum Exporting Countries came to an agreement in Algeria on Wednesday to cut crude output to decrease global supply. There hasn’t been a production cut since 2008 after the financial crisis decreased the demand … Continue reading

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Oil sinks near $40 a barrel along with lower commodity prices

The commodity markets have been declining substantially, especially this week. Gold prices fell to the lowest level in five years, copper prices hit a six year low, and oil has sunk to a close of $40.74. The prices of 24 … Continue reading

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