Crude futures fell from 2015 peaks in choppy trading on Friday, but Brent's 9.6 per cent weekly gain was its biggest in more than five years as Middle East turmoil and signs of lower US production lifted prices.
US crude also
US crude oil production will peak at 10.6 million barrels per day in 2020, a million barrels more than the high forecast a year earlier, undeterred by the worst price rout since the financial crisis, a report said.
The US governme
Oil prices edged up in early Asian trading on Monday following a strong session on Friday, as financial traders increased their bets on higher prices amid a slowdown in US drilling.
Front-month Brent crude futures rose 18 cents to
Oil prices rose on Friday, posting a weekly gain on lift from lowered expectations that an agreement on Iran's nuclear program will result in a rapid return of more Iranian barrels to the market.
Strong US refined products fut
Oil prices rose more than a per cent on Thursday, clawing back a part of the 6 per cent slump in the previous session that was triggered by a shock jump in US crude inventories and record Saudi output, although analysts said sentiment remained b
Brent crude rose above $54 a barrel on Tuesday, recovering some of the previous session's losses when it dropped to a six-week low, although concerns over a worsening global supply glut kept a lid on gains.
US crude, or West T
Oil prices fell on Monday, with US crude dropping nearly 3 per cent to a six-year low as the dollar hit fresh highs and spare oil storage capacity runs low around the world.
Both US crude and Brent have dropped steeply this month
Brent crude climbed towards $58 a barrel on Thursday for the second straight session as speculators covered their positions ahead of the April contract's expiry, while a strengthening dollar and a build in US crude stocks capped prices.
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 fell towards $59 a barrel on Monday as upbeat jobs data pushed the dollar higher, outweighing geopolitical tensions and the threat of output cuts in Libya and Iraq.
That came as Goldman Sachs on Sunday forecast oil pri