Oil prices fell on Wednesday after Greece became the first developed economy to default on a loan with the International Monetary Fund and as both US and Opec production hit new records.
Greece, as expected, was not able to repay
Oil prices fell in Asian trade on Tuesday on renewed worries over a global glut of oil and lacklustre demand ahead of preliminary manufacturing figures from China and Japan later on Tuesday.
But a forecast drawdown in US crude sto
Oil prices eased in Asian trade on Monday, falling for a second session on concerns about the outcome of an emergency eurozone meeting later in the day on the Greek debt crisis and worries about oversupply.
Prices were up, though,
Oil prices extended declines on Monday after two straight days of losses late last week as high production offset strong refinery runs, but a storm that could impact Gulf of Mexico operations supported US crude.
Saudi Arabia, the
Oil futures extended gains in early Asian trade on Wednesday as US crude and gasoline inventories fell more than expected and the Energy Information Administration (EIA) raised its 2015 oil demand growth forecast.
Crude oil prices recovered on Thursday after a two-day slide, although high US stocks and strong global production, along with a firm dollar, were keeping markets under pressure.
The gains followed two days of steep falls as a res
Crude oil futures edged lower towards $65 a barrel as the dollar strengthened on Monday, with a public holiday in the United States and much of Europe keeping trading muted.
Front-month Brent crude shed 17 cents to $65.20 a barrel
Crude oil futures edged up on Monday, buoyed by healthy Asian appetite and demand from the US driving season.
Front-month Brent crude prices had gained 2 cents to $65.39 per barrel by 0312 GMT. US crude prices were up 14 cents at
Crude oil prices began rising after initial dips on Thursday, but remained within a narrow range that has been in place since late April as contradicting views of an oversupplied versus a tightening market push prices up and down.
Crude oil prices bounced back on Wednesday from steep falls in the previous session as strong Japanese economic growth surprised markets and the business outlook in Australia also seemed to brighten, stoking producer hopes of increased demand.