Oil held a weekly decline on concerns over plentiful supply and the outlook for demand in China, the world's biggest crude importer.
Brent crude traded below $71 a barrel after falling 3.8% last week, while West Texas Intermediate was near $67. The prospect of a supply glut next year and a stronger dollar has weighed on prices, while monthly figures showed another drop in apparent oil demand in China during October.
Oil has swung between gains and losses since mid-October, with hostilities in the Middle East at times raising fears of an escalation and potential disruption to supplies. During Friday's session, traders reacted to news that Ukraine is calling for action to force Russia toward peace.
Brent for January settlement was 0.2% lower at $70.91 a barrel at 7:30 a.m. in Singapore.
WTI for December delivery slipped 0.3% to $66.79 a barrel.
Source: Bloomberg
Oil headed for the biggest weekly loss since late June as traders positioned for a key OPEC+ decision on supply this weekend. Brent futures edged marginally higher on Friday, but were still...
Oil prices edged higher on Friday but remained on course for a weekly loss of about 7-8% after news of potential increases to OPEC+ supply. Brent crude futures gained 43 cents, or 0.67%, to $64.54 a ...
Oil was on track for the biggest weekly decline since late June, ahead of an OPEC+ meeting that's expected to result in the return of more idled barrels, exacerbating concerns around oversupply. ...
Oil prices fell about 2% to their lowest in four months on Thursday, extending a run of declines into a fourth day, due to concerns about oversupply in the market ahead of a meeting of the OPEC+ group...
Oil prices weakened on Thursday (October 2), extending their decline into a fourth day on concerns about oversupply in the market. Brent crude futures fell 37 cents, or 0.6%, to $64.98 a barrel at 11:...
The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its...
Federal Reserve (Fed) Bank of Dallas President Lorie Logan struck a nervous tone on Friday, warning that despite a rapidly-weakening labor market, a lot of potential policy moves could accidentally spark another round of renewed inflationary...
If it just seems like the first Friday of the month wasn't the same without being able to pore through the Bureau of Labor Statistics' hotly watched monthly jobs report, don't worry. You probably didn't miss much. While the BLS has gone dark with...
The bottom line: The release of official US data is delayed because the federal government is currently in shutdown. While the budget hasn't been...
Asian markets opened higher, following a global rally that pushed world indexes to new records, despite the US entering its first government...
Wall Street's indexes closed at record highs on Wednesday, buoyed by strong sector performance and optimism that the US government shutdown will be...
European stocks were on Thursday, with the STOXX 50 up 1% and the STOXX 600 gaining 0.6%, extending the previous session's rally that drove both...