Brent crude rose towards $57 a barrel on Wednesday, paring some of the previous session's sharp losses, after data showed US crude stocks fell for the first time in two months.
The benchmark closed nearly 4 per cent down in th
Brent crude oil prices steadied above $60 a barrel in early Asian trading on Tuesday, supported by traders entering the market after prices dropped sharply in the previous session on the back of record US stocks.
Brent futures fel
Brent crude oil prices remained below $58 a barrel on Tuesday as the International Energy Agency (IEA) said the US will remain the world's top source of oil supply growth until to 2020, defying expectations of a more dramatic slowdown in sha
Brent crude extended gains on Thursday to hold above $51 a barrel, after an unexpected fall in US crude stocks snapped a four-session decline the previous day.
Data showing the US economy remained resilient amid slowing global gro
Oil prices rose on Monday, after dropping for the past two sessions, as escalating clashes in Libya stoked worries about supply from the Opec member.
A fire caused by fighting at one of Libya's main export terminals has destro
Saudi Arabia's 2015 state budget assumes an oil price close to current levels of around $60 a barrel for Brent crude, a shift from past budgets which were based on prices well below market levels, analysts say.
The kingdom doe
Brent crude fell towards $81 a barrel on Wednesday, holding just above a four-year low as concerns over a mounting oil glut outweighed geopolitical and supply disruption risks in Ukraine and Libya.
With oil prices having fallen 30
Brent crude fell below $98 a barrel on Monday, down for the third session in four, as sluggish demand and abundant supplies outweighed a possible cut in oil output from the Organization of the Petroleum Exporting Countries (Opec).
Brent crude dropped towards $98 per barrel, while gold tumbled to its lowest in 8-1/2 months on Thursday as the dollar index jumped to a four-year peak on fears about a looming US interest rate increase.
Poor demand and abundant s
Brent crude eased for a fourth straight session on Tuesday but held above $100 a barrel after dropping below that level on the previous day for the first time in 16 months, with prices supported by hopes of production cuts by Opec.