Despite the International Energy Agency saying that world oil demand would remain tepid, U.S. crude rose 3 percent to hit a four-week high above $76 a barrel on Friday on supply concerns following the shutdown of a major pipeline supplying Canadian oil to the United States and potential for an extended outage. The duct accounts [...] [...more]
The last two weeks have been a dismal period for crude oil, as the commodity has tumbled from close to $83 to nearly $73. Prices are currently up slightly to kick off the new week, after falling in four of the last five sessions. The drivers of price action remain the same: the global economic [...] [...more]
Commentary: Crude oil is little changed in overnight trade after falling dramatically last week. Crude shed over $6/barrel, or 7.5% over four sessions, as global growth concerns reemerged following cautious comments from the U.S. Federal Reserve. This week is likely to feature more of the same consternation surrounding the state of growth around the world, [...] [...more]
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