West Texas Intermediate slid for a third day as a U.S. agreement with Russia on disarming Syria’s chemical weapons eased the threat of an imminent attack and as Libya’s oil production recovered.
West Texas Intermediate slipped from near a five-week high amid rising crude inventories in the U.S., the world’s biggest consumer of the commodity.
Crude oil fell to a seven-month low in New York as the euro tumbled against the dollar, undermining the attraction of commodities for hedging against inflation.
Zinc fell to the lowest price this week, leading a slump for industrial metals, on renewed concern that Europe’s debt crisis is worsening and will curb demand.
Oil climbed for a third day in New York as better-than-estimated earnings boosted confidence in the strength of the economic rebound, signaling that fuel demand will increase.
Oil traded near its highest in a week in New York on signs that the U.S. economy will be spared a recession and amid growing pressure on Iran to curtail its nuclear program.
Oil climbed for the first time in three days after an Alaskan pipeline carrying about 15 percent of U.S. crude output was shut following a leak.
Oil traded near its highest price in 10 days in New York as signs of an improving economy in the U.S., the world’s biggest crude consumer, stoked speculation that demand for fuel may increase.
Oil traded near its lowest settlement in six months as the European Central Bank suspended lending to some Greek institutions, fanning concern that the region’s debt crisis will hurt fuel demand.
"Lead production cutbacks in China are supporting the price."
- Robert Montefusco on Dec 19, 2014