U.S. crude futures

Oil Prices Bounces Back As China Hints At Buying US Crude

  • Oil prices are on a rise after China hints to ship in large volumes of US crude in next two months.
  • This seems to be a fitting answer to the concerns over a slowdown in demand recovery after the coronavirus pandemic and an uptick in supplies.
  • Brent crude rose 21 cents, or 0.5 per cent, to $45.01 a barrel by 0023 GMT while US West Texas Intermediate crude was up 27 cents, or 0.6 per cent, to $42.28 a barrel.

The Business Standard in a recent news report reveals how China’s plans to buy oil from...

https://mfame.guru/oil-prices-bounces-back-as-china-hints-at-buying-us-crude/

Oil Prices Escalate in Response To Supply Cuts

  • Front-month Brent crude futures rose to $66.63 a barrel and were up $1.72, or 2.7%, at $66.46 a barrel. 
  • U.S. crude futures for August climbed $1.52, or 2.6%, to $59.99 a barrel, after hitting highest at $60.13. 
  • OPEC and allies pushing to extend supply cuts until the end of 2019 at their Vienna meeting. 
  • Saudi Arabia to extend existing output cuts of 1.2 million barrels per day (bpd) by six to nine months.

Front-month Brent crude futures touched an intraday high of $66.63 a barrel and were...

http://mfame.guru/oil-prices-escalate-in-response-to-supply-cuts/