Brent crude, the international benchmark for oil prices, rose $2.78, or 2.6 percent, to $62.84 a barrel by 8:47 a.m. ET (1347 GMT). U.S. West Texas Intermediate crude futures were up $2.17, or 4.2 percent, at $53.66 per barrel.
Energy
Russia has reportedly agreed to cut 200,000 bpd, clearing a hurdle for OPEC to agree to specific reductions.
Russia has reportedly agreed to cut 200,000 bpd, clearing a hurdle for OPEC to agree to specific reductions.
OPEC source says Iran has agreed to OPEC deal: RTRS
OPEC source says OPEC to cut around 800 kbpd- RTRS
The Saudis have been leading calls for the group to trim output, amid surging supply and fears that an economic slowdown will erode fuel demand. The oil-rich kingdom has previously indicated it wants the group to curb output by at least 1.3 million barrels per day (bpd).
JP Morgan has cut its outlook for oil, predicting that Brent crude prices will average $73 a barrel in 2019
Scott Darling, head of Asia-Pacific oil and gas at JP Morgan told CNBC that the investment bank recently revised its outlook in part due to North American supply ramping up in the second half of next year. JP Morgan expects the price of Brent, the international benchmark for oil, to go toward $64 in 2020.
Crude Oil WTI Tips – Keey Eye on $57.50 Above We See Only Blast – Neal Bhai Commodity Guru
Crude Oil WTI Tips – Keey Eye on $57.50 Above We See Only Blast – Neal Bhai Commodity Guru
NYMEX Natural Gas Watch $5 It’s Rock Hurdel Will Fly or Melt Like Ice????
NYMEX Natural Gas Watch $5 It’s Rock Hurdel Will Fly or Melt Like Ice????
Trump’s Trade Policies Could Soak The U.S. Oil And Natural Gas Industries
In other words, American isolationism is hurting U.S. businesses and leaving the president alone and frustrated. Consider that China is the third largest importer of U.S.-produced liquefied natural gas (LNG) and that China’s appetite for the fuel will only expand as its pursues cleaner energy policies.
MCX Crude Tips – Watch 3949 Level, Above we See Target 4160 (Trade With Small Lots)
MCX Crude Tips – Watch 3949 Level, Above we See Target 4160 (Trade With Small Lots)