Brent crude gained on Friday, but was down for the week. Meanwhile, the International Energy Agency increased its estimate for 2014 oil demand.
Articles Tagged "oil price"
On Tuesday, crude oil lost 1.39% as concerns over a slowdown in China and rising U.S. stockpiles weighed on the price. Because of these circumstances, light crude declined below the psychological barrier of $100 per barrel for the first time since mid-February
Business Times reported that the price of Brent crude rallied on Monday, climbing more than US$1 to over US$107. The rebound comes after oils biggest weekly fall in six months, following news of a restart of a key Libyan oilfield.
MarketWatch reported that crude oil prices are down 3 percent, to $95.44, in New York.
Brent crude futures climbed to a one-week high on Monday after economic data hinted that November saw a growing manufacturing sector in China, Europe and the United States.
The Washington Post reported that oil prices fell below $93 on the back of disappointing economic reports from Europe and the U.S.
Crude oil dropped below $88 Wednesday after the International Monetary Fund on Tuesday lowered its outlook for world economic growth.
Reuters reported that Brent crude oil has further declined almost 3% and has inched closer to $100/barrel on Monday, extending a 2-week selloff that has cut almost 10% off prices.
Reuters reported that Brent crude settled down 39 cents per barrel at $110.69 while US crude settled slightly higher up to 12 cents at $97.19 per barrel as traders weigh concerns about demand as well as the possibility of a longer pipeline outage in the Midwest.
Bloomberg reported that West Texas Intermediate crude gained as US stocks surged after data showed factory orders in the US exceeded forecast, signaling positive economic growth and higher fuel demand.