Crude Oil Tops $75 on Supply Cuts, Prospect of Iran Sanctions

Crude oil prices fall by $2 on demand concerns, Israel comments

Gold Silver Reports (GSR) – Crude Oil Tops $75 on Supply Cuts, Prospect of Iran Sanctions — Brent crude, the global benchmark, rose to its highest level since OPEC on Nov. 27, 2014 turned its back on curbing output to support prices, a move that triggered a battle for market share and helped deepen a collapse to $27 in early 2016.

Read more →

Crude Oil Rises Most in 2 Weeks as Concerns Over Trade War Ease

Crude Oil MCX

Gold Silver Reports (GSR) – Crude Oil Rises Most in 2 Weeks as Concerns Over Trade War Ease — Futures jumped as much as 2.5 percent in New York as equities rose and the dollar dipped, boosting oil’s appeal. While President Donald Trump predicted China will be first to buckle in the tug of war, his top economic adviser said the countries are holding “back-channel discussions” to resolve the dispute.                                                  

Read more →

Crude Oil Pares Rally Amid Signals of Expanding American Crude Surplus

Oil Tumbles

Gold Silver Reports (GSR) – Crude Oil Pares Rally Amid Signals of Expanding American Crude Surplus — Futures closed 0.3 percent higher in New York on Thursday, wiping away most of the gains made during the session. Data provider Genscape Inc. was said to report inventories at the key pipeline hub in Cushing, Oklahoma, expanded, taking the wind out of a rally earlier driven by an unexpected Arab Light crude price increase by Saudi Arabia, the world’s biggest oil exporter.

Read more →