Russia snaps oil’s longest winning streak in 2017, opposes deeper production cuts
Crude oil fell, snapping the longest winning streak this year, as Russia was said to oppose any proposal to deepen OPEC-led production cuts.
New York Mercantile Exchange
Saudi, Russia cutbacks buoy oil bulls, but respite from frackers won’t last
Saudi Arabia and Russia said they favour prolonging oil-output cuts by global producers through the end of the first quarter of 2018.
Oil extends losses on #Brexit – trades near $47/barrel
Oil extended losses to trade near $47 a barrel as the UK voted to leave the European Union, triggering a global flight from risky assets.
SA tax increase alert: Brent breaches $50, now 80% above its January low
Brent crude rose above $50 a barrel for the first time in more than six months as a drop in U.S. stockpiles accelerated a rebound from a 12-year low.
More consumer pain as oil hits 6-month high. Falling stockpiles ease glut.
Oil advanced to a six-month high before US government data forecast to show crude stockpiles dropped for a second week, easing a glut.
Dangerous ground – OPEC’s Doha bickering hits oil, raises Denel JV worry
Oil tumbled by the most in two months after output talks between the world’s biggest producers ended without any agreement on limiting supplies, a diplomatic failure that threatens to renew the rout in prices.
Scramble for Oil: Biggest 2-day rally in 7yrs, nears $32
Oil fluctuated near $32 a barrel after the biggest two-day rally in more than seven years.
Fresh losses on precious metals on strong dollar
Gold fell to a 15-week low and silver slumped to the cheapest in seven months after Greece’s economic crisis boosted haven demand for the dollar.
Fading oil surplus prompts price gains
Oil remained higher after crude stockpiles fell more than expected last week. In that period, crude inventories dropped 2.67-million barrels as refineries bolstered operating rates.
US shale oil production drops – but may prove short-lived
Shale oil production flow has dropped by 1% in the US this month so far, and the decline is just beginning. But whether it sticks is another matter entirely.