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Oil Rallies on Chinese Import Boost and Mideast Tensions
Oil prices firmed on Friday as bullish news from strong Chinese oil imports to turmoil in the Middle East put Brent on track for a nearly 3 percent weekly gain. The developments added to other signs that the market was finally rebalancing after years of excess, but analysts warned that the 2018 balance was still shaky. Brent was at $57.20 at 1335 GMT, up 95 cents. U.S. West Texas Intermediate (WTI) crude was at $51.44 per barrel, up 84 cents from its last settlement.
Oil Rallies as Hopes Grow for Output Cut
Oil rallied to four-month highs on Thursday, underpinned by a surprisingly large drop in U.S. inventory levels the previous day and by growing expectations for the…
Oil Rally is Not Just About Hedge Funds: Kemp
Oil prices are becoming dangerously overheated as speculators anticipate a rebalancing of supply and demand that has barely started, according to many oil analysts.
Oil Rallies Briefly after Iran Seizes Cargo Ship
Oil prices rallied briefly on Tuesday after reports that Iran had seized a cargo vessel, described initially by Iranian and Saudi media as a U.S. ship, raised geopolitical…
Oil Rallies
Oil markets added to 18-month, in part driven by OPEC output cuts which burrowed further into surplus inventories in major Western consuming countries. On Thursday…