Oil prices were mixed on Thursday, with Brent edging higher toward the psycholog...
TOKYO - Oil prices were mixed on Thursday, with Brent edging higher toward the psychologically important $70 level after easing in the previous session on data showing a surprise build in U.S. inventories.
U.S. West Texas Intermediate crude fell 3 cents to $62.43 a barrel. The contract dropped 12 cents in the previous session after briefly hitting $62.99, also the highest since November. “And there’s a much better than expected demand picture after the recent China and U.S. PMI numbers, along with a potential kicker from any U.S.-China trade agreement,” he said.
Crude oil is also supported by an agreement between the Organization of the Petroleum Exporting Countries and allies such as Russia, a group known as OPEC+, to reduce oil output by about 1.2 million bpd this year.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Brent nears $70 as oil prices rise for fourth dayOil prices rose for a fourth day on Wednesday, pushing Brent toward a nearly fiv...
Read more »
Oil nears $70, hovers near five-month highs on cuts and sanctionsOil prices steadied on Wednesday after Brent pushed towards a nearly five-month ...
Read more »
Brent approaches $70 as oil prices rise for fourth dayOil prices rose for a fourth day on Wednesday, with support from OPEC-led supply...
Read more »
Asian shares rise to new seven-month high, oil closes in on $70Asian shares rose to fresh seven-month highs on Wednesday as global investors to...
Read more »
Iran says oil market supply/demand balance is fragileThe balance between supply and demand in the oil market is fragile, Iranian Oil ...
Read more »
Oil extends losses into second session as U.S. stocks riseOil prices fell on Thursday, extending losses into a second straight session, af...
Read more »
Carlyle takes step forward on $1 billion U.S. oil-export projectA proposed $1 billion deepwater oil-export project moved ahead on Thursday with ...
Read more »
Banks Lift Oil Price Forecasts for 2019Banks raised their forecasts for the price of Brent crude, the global oil benchmark, in 2019, as the market continues to be supported by production cuts led by OPEC, as well as geopolitical risks to supply.
Read more »
Analysis | China has put Canadian canola oil in the middle of a wider geopolitical disputeA U.S.-China dispute over the December arrest of a Chinese tech executive has entangled Canada.
Read more »
Interior Dept. approved far more oil and gas permits during shutdown than previously knownDuring the 35-day government shutdown, the Bureau of Land Management approved 267 onshore drilling permits and 16 leases applied for by oil and gas companies, the agency said, a number far greater than previously known.
Read more »