Business & Finance
Banking & Finance
Saturday, March 25, 2017 2:49:49 PM
U.S. oil rises after dropping below $50 for first time since December
Source: Reuters - 3/10/2017 9:10:12 AM
0 ratings. You must sign in to rate.
Add To Favorites
U.S. crude prices edged up on Friday after dropping below $50 per barrel for the first time since December in the previous session, pressured by concerns that a global supply glut is proving stubbornly persistent.
U.S. West Texas Intermediate crude (WTI) was up 23 cents at $49.51 a barrel at 0027 GMT (7.27 p.m. ET).
Brent crude was yet to trade. On Thursday, it settled down 92 cents, or 1.7 percent, at $52.19 a barrel, after slumping 5 percent the day before in its biggest percentage decline in a year.
The U.S. contract fell below $50 on Thursday for the first since mid-December, when OPEC producers and a group of other countries including Russia agreed on a cut in output to end two years of declining prices.
But market confidence has taken a hit after a period of higher prices enticed more U.S. shale oil companies to drill more wells and as stockpiles have remained high.
Data showed crude stocks in the United States, the world's top oil consumer, swelled by 8.2 million barrels last week to a record 528.4 million barrels.
U.S. drilling has also picked up, with producers planning to expand crude production in North Dakota, Oklahoma and other shale regions, while the Permian, America's largest oilfield, has seen output jump.
Senior Saudi energy officials told top independent U.S. oil firms in a closed-door meeting this week that they should not assume OPEC would extend output curbs to offset rising production from U.S. shale fields, two industry sources told Reuters on Thursday.
Energy ministers and senior oil executives are meeting this week at CERAWeek in Houston, the biggest U.S. gathering of the oil industry.
Oil edges up as Saudis cut supplies to U.S., but global glut remains
Dollar on back foot after U.S. healthcare vote postponed
Dollar hangs on for U.S. healthcare vote, Asia shares muted
Oil bounces off November lows, but bloated US stockpiles pressure market
Dollar limps up from 4-month low vs yen, Trump's healthcare bill in focus
Slide in U.S. infrastructure stocks sign of 'Trump trade' weakness
Asia stocks advance, dollar, oil recover from multi-month lows
Asian shares near 15-month high, dollar soft on less hawkish Fed
Dollar slumps after Fed Evans reinforces rate outlook
Oil prices rise on talk that OPEC could extend supply cut
Wall Street ends up slightly; energy shares rebound
Dollar firm in Asia, resource shares on the run
Dollar stands tall on strong U.S. ADP job data, higher Treasury yields
OPEC cut 40 percent more in February than pledged in oil deal: Kuwait
Dow, S&P 500 dip as energy shares tumble
Dollar advance bogs down, U.S. jobs report comes into view
Asian shares slip after strong start to week on U.S. cues
Pharma, bank stocks pull Wall Street lower
Asian stocks flat, euro slides on French election concerns
Wall Street slips on wiretap accusation, geopolitical worries
Slight rise in February CPI
Draft decree on State monopoly in trade submitted to Government
CPI ups 0.46% in January
CPI below 5% target
At 6.21 per cent, country’s GDP below govt target
Last updated at
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Type in the symbol above for thorough background information, key statistics and financial information.
Choose a sector
Oil & Gas
We continuously improve our services, here are the latest updates...
Allow you to monitor a customised group of securities. You can set up multiple
to help you better manage your investments.
delivered directly to your email address.
Allow you to
filter the market
and find exactly what sort of company you are looking for.
Get instant access to FREE REAL-TIME
for hundreds of stocks from HOSE, HNX and UPCOM exchanges.
Stockbiz.vn © 2009 |