Oil prices stabilised on Tuesday, supported by strong Chinese fuel consumption and halting a slide to 2003 levels earlier in the week after the full return of Iran to markets added to an already huge supply overhang.Front-month Brent crude futures LCOc1 were trading at $28.94 per barrel at 0439…
Brent oil traded near $28 a barrel as it extended declines after international sanctions on Iran were lifted, paving the way for increased exports from the OPEC producer amid a global glut.Futures lost as much as 4.4 percent in London, slipping to the lowest since November 2003. Iran is…
Oil prices crashed 6% on Friday to close below $30 a barrel for the first time in 12 years, resuming this year’s breathtaking rout as Chinese stock markets fell further and traders braced for an imminent rise in Iran’s exports.After closing higher for the first time in eight sessions…
Oil dropped to a new 12-year low below $30 a barrel in New York, while the discount on global benchmark Brent reached a five-year high as Iran moved closer to restoring exports.
West Texas Intermediate crude fell 5.7 percent, capping an 11 percent decline for the week.
The grade slipped below…
Oil extended declines from the lowest close in more than 12 years before U.S. government data forecast to show crude supplies expanded, exacerbating a global glut.
Futures fell as much as 2.2 percent in New York after dropping 5.3 percent Monday. Stockpiles probably rose by 2 million barrels last week,…
