Tag: Brent

Fears of U.S. Shale Oil Increase Push Oil Down

Fears of U.S. Shale Oil Increase Push Oil Down

Fears of enhanced production by U.S. shale producers, hoping to cash-in on recent increases in the price of crude have pushed the commodity lower, as concerns rise regarding the potential for significant market-saturation once more. Prices of the commodity had soared in the wake of the signing of the OPEC deal designed to reduce oil-market-saturation, … Continue reading Fears of U.S. Shale Oil Increase Push Oil Down

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Increasing Pessimism Surrounding OPEC Deal

Increasing Pessimism Surrounding OPEC Deal

Oil prices manage a moderate recovery in today's trading session, climbing back from two consecutive sessions of considerable decrease on fears of member nations failing to comply to designated production cuts, in the first month of the supply-cut deal's implementation. The once stable OPEC deal is facing increased pessimism as concerns about true supply cuts … Continue reading Increasing Pessimism Surrounding OPEC Deal

Oil Continues Fall on Fears of OPEC Deal Failure

Oil Continues Fall on Fears of OPEC Deal Failure

Brent crude, the global oil benchmark slid by 1.29% at 13:30 EST on sustained fears of a potential collapse of the OPEC oil deal signed last November. The deal in which, via the incorporation of non-OPEC members, primarily Russia, and constituent nations of the cartel, most notably Saudi Arabia - the largest oil producer  of … Continue reading Oil Continues Fall on Fears of OPEC Deal Failure

Oil Makes Moderate Recovery After Sharp Fall on Global Production Concerns

Oil Makes Moderate Recovery After Sharp Fall on Global Production Concerns

The price of WTI and Brent crude oils has made a moderate recovery since bottoming-out during midday trading as analysts question the bullish notion maintained since the OPEC production cut ironed out in the production deal signed last November. Oil nosedived this morning on news Iran and Iraq may not be reducing their oil production … Continue reading Oil Makes Moderate Recovery After Sharp Fall on Global Production Concerns

Brent Crude Oil Reaches 18-Month High

8Despite moderate scepticism amongst analysts, concerned about the capacity of OPEC to deliver on promised supply cuts, Brent crude, the global oil bench mark, rose 2.15% to $58.04 a barrel on London's ICE Futures exchange, marking a 18-month high. Fuelled by optimism on the strength of the OPEC deal designed to reduce global stockpiles, signed … Continue reading Brent Crude Oil Reaches 18-Month High