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Oil steady but on track for weekly drop on firmer supply outlook
Oil prices held steady on Friday but remained on track for a weekly fall as investors weighed expectations for increased output from Libya and the broader OPEC+ group against fresh stimulus from top importer China.
Oil Settles Higher but Falls on the Week on Firmer Supply Outlook
Brent crude futures settled up 38 cents, or 0.53%, at $71.89 per barrel. Front-month U.S. West Texas Intermediate crude futures settled up 51 cents, or 0.75%, at $68.18. On a weekly basis, Brent settled down around 3%, while WTI fell by around 5%.
Oil prices set for weekly loss on prospect of increased supply
Oil futures edged higher in Friday dealings but remained on track for a weekly loss on expectations OPEC+ will boost production before year-end, as investors cast doubt on whether an aggressive round of monetary stimulus from China will shore up demand from the world’s largest crude importer.
Oil Posts Weekly Loss on Supply-Demand Concerns
Oil futures pick up some ground after the previous day’s selloff, while ending the week lower on concerns about flagging global demand and prospects of increased supply after a report that Saudi Arabia intends to stick to a plan to start unwinding output cuts in December.
Oil on course for sharp weekly decline on concerns of supply boost
Oil prices recovered some losses on Friday but were headed for a sharp weekly decline as the market braced for the prospect of an increase in crude supply from Saudi Arabia and Libya. Brent, the benchmark for two thirds of the world's oil,
Oil prices mark a weekly loss on prospect of increased supply
Oil futures finished higher on Friday to modestly pare back their weekly loss from expectations OPEC+ will boost production before year-end.
14h
Oil Is Down 7% This Year: Is The Recent Slump A Portent Of Things To Come?
Oil slumped again on reports of the Saudis moving to defend their market share. But lower prices may likely persist ...
11h
About 24% of oil production shut in US Gulf of Mexico due to Hurricane Helene
About 24% of crude oil production and 18% of natural gas output in the U.S. Gulf of Mexico was shut in response to Hurricane ...
12h
on MSN
Oil Price Expected to Weaken If OPEC+ Hikes Supply
Expectations that the OPEC and its allies will start unwinding voluntary output curbs of 2.2 million barrels a day starting ...
1d
on MSN
Why oil prices have plunged 3% today
The kingdom is resigning itself to a period a lower prices, sources told the FT. Oil markets spiraled on the news, falling as ...
6h
Diddy lawyer says rapper is 'eager' to testify during trial, questions baby oil claims
In TMZ's documentary on Sean Combs, his lawyer said "freak offs" were just "threesomes" and called into question the baby oil ...
2d
The High-Stakes Spat Over How Much Oil the World Really Needs
OPEC is sticking with its estimate that the world will need an extra two million barrels a day this year, despite signs this ...
1d
An Oil C.E.O. Answers Our Questions
The Times hosted leaders and policymakers to talk about growing threats of climate change, and spoke with the C.E.O. of ...
23h
Home heating oil drops to lowest price in 14 months
The cost of home heating oil has dropped to the lowest levels since July 2023. On average, it will cost about £286.83 to fill ...
12h
on MSN
Van Goghs attacked again in London hours after Just Stop Oil activists sentenced
Three Just Stop Oil activists threw soup at two of Vincent van Gogh's "Sunflowers" paintings in London's National Gallery on ...
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