WTI Slumps As Postponed OPEC Conference Trumps Crude Inventory Surprise

Oil prices edged higher on Wednesday, supported by ongoing OPEC-led supply cuts and a surprise fall in U.S. crude inventories, although gains were capped by strong U.S. production......»»

Oil futures climbed more than 1 percent on Wednesday after U.S. data showing a deep decline in gasoline stocks overrode a rise in crude inventories to 17-month highs, and as an OPEC report showed further tightening of Venezuela's crude supply......»»

Oil prices edged down on Wednesday after U.S. government data showed a surprise build in crude inventories, but futures held near their highest in almost five months as OPEC-led output cuts and sanctions on Iran tightened the supply outlook......»»

WTI crude extended recent gains, hovering around $60 - setting the stage for its best quarter since 2002 - ahead of the API inventory report that was expected to show a draw after three draws in the last four weeks. “We’re back in rally mode,” .....»»

WTI’s post-API surprise crude draw rally stutter.....»»

Oil prices rose to near four-month highs on Monday, supported by the prospect of extended OPEC-led oil supply curbs and signs of inventory declines in U.S. crude stockpiles......»»

Oil prices edged up on Monday, supported by the prospect of prolonged OPEC-led oil supply curbs and signs of inventory declines at the delivery point for U.S. crude futures......»»

Crude rose for a third day after API reported an unexpected drop in U.S. stockpiles just as planned cuts and disruptions to OPEC output are tightening supply. While OPEC nations like Saudi Arabia press o.....»»

Despite geopolitical risks seemingly ebbing, WTI/RBOB rebounded today on hopes OPEC .....»»

WTI/RBOB prices ended the day lower but bounced a little after Trump's statement, running flat into API but a pushed WTI briefly back above $70 following a surprise crude draw (and large product draws).   API C.....»»

SEOUL (Reuters) - Oil prices dropped on Thursday, weighed down by a surprise rise in U.S. crude inventories and by expectations that OPEC and other producers could increase output at a meeting in June......»»

A larger-than-expected decrease to U.S. crude oil stockpiles moderated the drop in crude prices following Thursday's report from the U.S. Energy Information Administration......»»

Oil dropped as rising U.S. output overshadowed a surprise decline in crude stockpiles, with traders also focused on whether Saudi Arabia and Russia will boost production......»»

With WTI unable to rally beyond $65 today due to trade war concerns (and with OPEC .....»»

Crude comes under pressure after API reports an unexpected gain, with the EIA data due later also seen as posting an inventory build. Signs of a supply surge from Saudi Arabia and Russia are other factors......»»

WTI has extended its losses since last night's surprise API-reported crude inventory build., and DOE confirmed with a surprise 3.8mm bbl inventory build and whi.....»»

Crude fell to the lowest in more than five weeks as a surprise rise in U.S. crude inventories and increases in production from OPEC and Russia has investors worried that global supply levels are on the upswing......»»

Oil futures trade slightly lower Monday, losing some ground ahead of a conference call between members of a committee monitoring compliance with a deal by OPEC and non-OPEC produces on crude output......»»

WTI rallied overnight, in the face of dollar gains, as Iran supply fears reignited, dominating API inventory builds across the board, and spiked notably after DOE reported a bigger-than-expected 2.566mm crude draw......»»

U.S. oil prices early Wednesday trade higher as Hurricane Florence was barreling toward the East Coast, boosting demand for crude and raising worries about disruptions to gasoline flows and pipelines in the region......»»