Oil edges lower in the Asian morning session due to a possible technical correction. Oil futures closed sharply higher Monday after members of OPEC+ said they would wait another month before starting to unwind 2.2 million barrels a day in production cuts.
While the move may temporarily bolster oil prices, the U.S. presidential election is a critical factor in determining oil price trends, XS.com's Rania Gule says in an email. Investors are closely watching, as the economic policies of the new U.S. administration will directly affect global oil demand, the senior market analyst says.
Front-month WTI crude oil futures are 0.1% lower at $71.37/bbl; front-month Brent crude oil futures are 0.1% lower at $74.98/bbl.
Source : Dow Jones Newswires
Oil prices fell about 1% on Monday as concerns about conflict in the Middle East eased slightly. The market calmed after the US and Iran agreed to resume talks on Tehran's nuclear program, reducing fe...
Oil prices moved slightly higher in a volatile session on Friday, as investors assessed the direction of nuclear negotiations between the United States and Iran. Price movements appeared sensitive to ...
Oil prices fell again on Thursday (February 5th) after Iran confirmed it would open negotiations with the United States. This assurance of dialogue eased market concerns over the risk of a direct mili...
Oil prices rose for the second consecutive day after US-Iran tensions resurfaced. The trigger: the US reportedly shot down an Iranian drone near an American aircraft carrier in the Arabian Sea an even...
Oil prices edged higher in the Asian session on Tuesday (February 3rd) after plummeting sharply the previous day. Brent crude for April rose 0.2% to US$66.42/barrel, while WTI rose 0.3% to US$61.90/ba...
Gold held above the psychological $5,000 level at the start of the week, supported by a combination of factors that are "right" for the precious metal : physical demand from China, expectations of lower US interest rates, and a weakening...
Oil prices fell about 1% on Monday as concerns about conflict in the Middle East eased slightly. The market calmed after the US and Iran agreed to resume talks on Tehran's nuclear program, reducing fears of imminent supply disruptions. Brent fell...
Hong Kong stocks surged on Monday morning. The Hang Seng Index rose 488 points, or around 1.8%, to 27,051, rebounding after weakening in the previous session. Sentiment was also lifted by Wall Street. Friday's rally pushed the Dow Jones...