Oil in bear market heads for fifth weekly drop as supply climbs

2017-06-23 13:22

Oil is heading for a fifth weekly decline after sinking into a bear market amid concerns rising supply from the US to Libya would offset production cuts from Opec and its allies.

Asian stocks mixed while oil halts losing streak

2017-06-23 07:36

Asian equities are ending the week on a tepid note, with oil remaining below $43 a barrel, after a series of the Fed speakers did little to alter projections for the path of US interest-rate increases.

Oil inches higher after entering bear market

2017-06-21 16:27

Oil has inched higher after sliding into a bear market as a persistent global supply glut continues to offset risks ranging from tropical storms to geopolitical tensions.

Oil slide hits stocks, MSCI China impact is muted

2017-06-21 07:43

Asian shares have retreated and the yen strengthened as crude oil tumbled into a bear market on fear a global supply glut will persist.

Saudis see oil market balance despite added Libyan barrels

2017-06-19 16:39

The oil market is expected to balance in the fourth quarter even as output from fellow Opec members Libya and Nigeria as well as from shale oil producers is on the rise.

Oil trades below $45 as US drillers extend record rig streak

2017-06-19 07:52

Oil has traded below $45 a barrel after a fourth weekly loss on speculation that a record expansion by US drillers will blunt Opec-led efforts to rebalance an oversupplied market.

Oil holds losses below $54 on surprise US gasoline supply gain

2017-06-15 07:38

Oil has held losses below $45 a barrel after sliding to the lowest in seven months as US gasoline supplies unexpectedly rose for a second week.

Oil resumes drop on signs US crude stockpiles extended gains

2017-06-14 07:43

Oil has resumed its decline as industry data showed US crude stockpiles extended gains, exacerbating an inventory overhang.

Oil holds gains as US crude stockpiles seen resuming decline

2017-06-13 07:56

Oil has held gains near $46 a barrel before US government data forecast to show crude stockpiles resumed declines after an unexpected rise.

Oil extends gains as Saudis see global supply drop accelerating

2017-06-12 07:56

Oil has extended gains as Saudi Arabia and Russia sought to reassure investors that coordinated production cuts by Opec and its partners are draining a global glut.


Opec has few escape routes from another bear market in oil

2017-06-23 10:30

Oil’s back in a bear market and investors remain unmoved by last month’s agreement to prolong supply cuts, leaving Opec and its allies with few remaining tools to boost prices.

Oil market sees increased conflict risk in Saudi power shift

2017-06-22 07:40

Following the appointment of Saudi Arabian crown prince, energy markets need to brace for an even more assertive Saudi Arabian foreign policy that could threaten regional stability in the heart of the global oil industry.

Oil extends drop into bear market as supply remains plentiful

2017-06-21 12:31

Oil has slid further into a bear market as rising global supply countered efforts by OPEC and its allies to drain a glut.

Oil's slide stalls as investors weigh stockpiles against Libya

2017-06-20 07:36

Oil’s slide below $45 a barrel stalled as investors weigh a forecast decline in US crude stockpiles against a revival in output from Libya, which is exempt from Opec-led outputs.

Oil trades near $45 as US keeps pumping in oversupplied market

2017-06-19 14:25

Oil has traded near $45 a barrel following a fourth weekly loss as US drillers continued to add rigs, blunting Opec-led efforts to rebalance an oversupplied market.

Protesters agree to end blockade of Tunisia oil plant

2017-06-18 15:00

Protesters agreed to end a blockade of a Tunisian oil and gas plant that saw bloody clashes with police last month after the government met many of their demands.

JSE softens on stronger rand, while strong retail data surprises

2017-06-14 20:06

The rand continued to strengthen on the back of improved retail sales data.

Oil rises as US crude stocks seen falling again

2017-06-13 12:08

Oil has advanced for a third day before US government data forecast to show crude stockpiles resumed declines after an unexpected rise.

Oil rises after third weekly loss as Saudi Arabia sees recovery

2017-06-12 13:06

Oil has steadied after a third weekly loss as predictions by Saudi Arabia and Russia that crude markets will rebalance vied with signs that US firms are drilling even more wells.

Sterling slides on UK vote; dollar, oil advance

2017-06-09 14:11

The pound has tumbled as the UK’s ruling Conservative Party lost its parliamentary majority, plunging the country into uncertainty just days before Brexit negotiations.

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