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Tag Archives: brent crude

Oil up as U.S. production falls, stockpiles draw

LONDON – Oil prices rose on Wednesday after data showed the market was beginning to tighten, with falling supply, higher demand and lower inventories after two years of heavy surplus. The U.S. government’s Energy Information Administration (EIA) said in a monthly report global oil demand should increase by its fastest rate in six years in 2016, suggesting a surplus of ...

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Crude jumps on U.S. output forecast; stocks mixed

NEW YORK  – Crude prices jumped more than 4 percent on Tuesday after the United States cut output forecasts, while global equity markets mostly rose on expectations the Federal Reserve will not raise interest rates this year. Helping crude was news that Russia and Saudi Arabia had met last week and discussed the oil market, and planned to continue exchanging ...

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Oil falls after U.S. warns on health of global economy

LONDON – Oil prices fell on Friday after the U.S. central bank warned on the health of the global economy and bearish signs persisted that the world’s biggest crude producers would keep pumping at high levels. The Federal Reserve decided against raising interest rates from historic lows on Thursday, saying uncertainty about global economic growth had forced its hand. The ...

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Like it or not, China’s crude oil futures will be a global benchmark

SINGAPORE – China’s push to establish a crude derivatives contract has been met with early skepticism, but oil executives say the country’s growing economic influence means a third global crude benchmark is inevitable. A derivatives contract would give the Shanghai International Energy Exchange, known as INE, a slice of an oil futures market worth trillions of dollars, offering a rival ...

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