Crude Oil reversed losses to close slightly higher after another day passed without an announcement from the Biden Administration to tap U.S. crude oil reserves.
Crude Oil Prices
Crude Oil Prices plunge over 5% to $67 as US-China trade tensions intensify
Gold Silver Reports (GSR) – Crude Oil prices slumped more than 5 per cent on Thursday on growing trade tensions, which have deepened over the US blackballing Chinese telecom giant Huawei.
Crude Oil Up as Saudi Arabia Reports Drone Attacks on Pipeline
Gold Silver Reports (GSR) – Crude Oil prices up as Saudi Arabia reported drone attacks on pipeline, the latest escalation in Middle East tensions.
Crude Oil Prices Up – Higher US Tariffs Kick in on Some Chinese Goods
Gold Silver Reports (GSR) – China on Friday said it “deeply regrets” the U.S. move, adding that it would take necessary countermeasures, without elaborating. Crude Oil prices rose on Friday despite the start of U.S. President Donald Trump’s tariff hike on $200 billion of Chinese goods, stoking the trade dispute between the world’s two biggest economies.
Crude Prices up 1 Percent on Supply Report
International Brent crude oil futures were up 67 cents, or 1.1 percent, at $62.17 a barrel by 1230 GMT. U.S. West Texas Intermediate (WTI) crude futures rose by 51 cents, or nearly 1 percent, to $53.52.
Two Big Producers just Called the Bottom on Crude oil: $60 a Barrel
Gold Silver Reports (GSR) – Oman oil minister Mohammed Al-Rumhi told Bloomberg TV that the agreement between the Organization of Petroleum Exporting Countries (OPEC) and partners including Russia and Oman can sustain prices at $60 a barrel.
Crude Oil Prices Dip as Worries over Economic Slowdown Return
Gold Silver Reports (GSR) — Crude Oil prices were also supported by comments from US Federal Reserve Chairman Jerome Powell on Thursday that the central bank had the ability to be patient on monetary policy.