WTI bounces off intraday low to trade near $42.07, down 0.10% on a day, while heading into the European open on Friday. In doing so, the black gold adds to Thursday’s losses as risk-tone sours following the US announcements of fresh punitive measures on Canada and China. The mood gained extra dullne
Crude oil prices gained traction after making a technical correction.
Iraq announced that it will make additional output cuts in August.
Weekly Initial Jobless Claims in the US declined by 249K.
Crude oil prices closed the fourth straight day in the positive territory on Wednesday and staged a tech
Bart Melek, head of commodity strategy at TD Securities, believes the rebalancing of the crude market will come into the next year. He expects WTI to rise toward recent highs just below the $45 mark, however, a higher trade range between $45 and $50 is not likely this year.
“With US deman
Two large explosions rocked the Lebanese capital of Beirut on Tuesday evening local time, shattering windows in surrounding neighborhoods for miles, destroying nearby buildings and wounding thousands of people.
At least 78 people have been killed and nearly 4,000 injured, according to Reuters. The L