West Texas Intermediate crude advanced to a one-week high on signals that global economic growth will accelerate, bolstering fuel consumption.
West Texas Intermediate crude fell for the first time in four days before government data that may show U.S. stockpiles rose last week from an 82-year high.
West Texas Intermediate crude tumbled as U.S. oil inventories reached an 82-year high amid signs of economic slowdown in the U.S. and China.
West Texas Intermediate crude rose from a four-month low on signals that recent losses were exaggerated and as Spain sold more debt than planned.
West Texas Intermediate fell for the fourth time in five days, trading near the lowest level in almost four months before government data forecast to show U.S. crude inventories rose last week.
Negotiations to halt Iran’s nuclear-enrichment program will probably fail, setting the stage for full implementation of U.S. and European Union sanctions against the nation’s oil exports, Societe Generale SA said.
China stands to be the biggest beneficiary of U.S. and European plans for sanctions on Iran’s oil sales in an effort to pressure the regime to abandon its nuclear program.
Crude oil fell the most in two weeks, trimming a second weekly gain, after employment in the U.S. unexpectedly stagnated in August, bolstering concern that fuel demand will drop.
Saudi Arabia, the world’s biggest crude exporter, boosted production last month to the most in more than three decades to meet customer demand.
Saudi Arabia, the world’s biggest crude exporter, boosted output last month to the most in more than three decades to meet customer demand.
"The spread came in too far, too fast."
- Michael Wittner on May 17, 2013