Tag: Oil

WTI and Brent Rise

WTI and Brent Crude were both up around 0.85% at 13:20 EST, following the trend of many dollar-denominated commodities subsequent to the release of minutes from the Feds December meeting. Brent crude oil, the global benchmark continued a consecutive day of gains, heading up from yesterday's upward close of $53.70/barrel, standing currently at 0.85% or $57.08/barrel, … Continue reading WTI and Brent Rise

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Commodities Rise on Fed Minutes

Commodities experience gains across the board as the minutes from the Feds December meeting are released. Energy: WTI and Brent posted modest rises after significant drops in Tuesday's trading session.  With Brent, the global benchmark, experiencing a rise of 1.69% and WTI Crude a rise of 1.72% at 19:25 GMT. Natural gas however experienced a … Continue reading Commodities Rise on Fed Minutes

Volatility in Oil Shows Combined Weariness and Optimism of OPEC Cuts

  Traders remain sceptical that all constituent members of OPEC will adhere fully to the OPEC proposal, including non-OPEC members, to cut global oil production by 2% and return the deeply saturated market back to a state of relative balance, or even deficit. Signed at the end of November 2016, the deal promised significant supply … Continue reading Volatility in Oil Shows Combined Weariness and Optimism of OPEC Cuts

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