The oil prices rise today in light of the cessation of oil supplies from Libya.
The WTI oil is rising by 0.6% to 52.2 US dollar per barrel and the Brent oil rising by 0.4% to 55.4 US dollar per barrel.
Oil
Market News Briefing – December 15th 2016 07:15 (GMT+1)
The oil prices retreated yesterday from a peak of 16 months and declined for the first time five days, after the US dollar strengthened following the rate rise in the US, which weighed on oil prices.
Market News Briefing – December 12th 2016 11:00 (GMT+1)
The oil prices are jumping today by about 5% to levels not seen since 2015, after Saudi Arabia and other non-cartel OPEC, such as Russia and Mexico, have signaled that they favor of a reduction in oil production, of about 600 thousand barrels per day.
This is in addition to the decision taken in OPEC conference in Vienna in late November, to reduce the oil quotas by 1.2 million barrels a day.
Market News Briefing – December 7th 2016 08:45 (GMT+1)
The oil prices fall after the oil minister of the United Arab Emirates announced that OPEC will respond with further oil cut if prices fell further.
The oil sweet Texas fell by 0.7% to 50.55 dollars per barrel and Brent falling by 0.7% to 53.57 dollars a barrel.
Market News Briefing – December 6th 2016 12:45 (GMT+1)
Wall Street stock markets are expected to open in stability after the oil retreated from a high of 16 months, and ahead of the publication of a series of macroeconomic data in the US today.
Market News Briefing – December 2nd 2016 06:45 (GMT+1)
The oil prices are changing direction and there are declines this morning after two days of sharp gains.
The Brent oil going down by 1.1% and is trading around the level of 53.3 dollars per barrel.
Market News Briefing – December 1st 2016 14:15 (GMT+1)
The prices of the oil is getting stronger:
The WTI rising by 3% to a price level of 51 dollars per barrel.
The Brent also increased by 3% to a price level of 53 dollars per barrel.
Market News Briefing – November 30th 2016 11:00 (GMT+1)
The prices of the oil is getting stronger.
WTI oil now costs 6% and closer to 48 dollars per barrel, while the Brent strengthened by 6.6% and traded for 50.4 per barrel.
Market News Briefing – November 30th 2016 08:30 (GMT+1)
The European stocks markets started the day with a rise , just like yesterday’s closing on Wall Street.
The Investors eyes are now turned to Vienna where the producers meeting will be held today by OPEC members.
They will try to reach an agreement on the freezing the output in order to stabilize the price of oil.
Market News Briefing – November 29th 2016 15:30 (GMT+1)
The price of the oil is now falling by 3.9% to a price level of 45.2 dollars per barrel, at the background to what looked like a break-up of the summit attempt to decide tomorrow on OPEC output reduction.
Iran’s oil minister announced that his country doesn’t intend to sign a pledge to reduce the output and that the intention is only to leave the production levels as they were at OPEC meeting in September.
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