Oil Prices ///

Crude prices jump on Libya export blockage, Iraq disruptions

Oil gained in Asian trading Monday following supply disruptions and political instability in key producers Libya and Iraq.

Oil advances on optimism sparked by historic U.S.-China trade agreement

Oil rose to the highest in more than a week as the preliminary trade truce between the U.S. and China fanned optimism about economic growth.

Chinese imports of U.S. oil to pick up following Trump’s trade deal

Under the terms of the agreement, U.S. energy exports to China will jump over the next two years, with the promise of an additional $18.5 billion worth of additional purchases in 2020 and $33.9 billion in 2021.

OPEC sees growing supply threat from rivals beyond U.S. shale

OPEC’s latest forecasts suggested a weaker outlook for global oil markets this year as surging supplies from competitors from Norway to Guyana threaten the group’s efforts to defend crude prices.

Oil trades near six-week low as U.S. stockpiles rise

Oil traded near a six-week low as industry data showing an increase in U.S. crude stockpiles re-affirmed expectations that global markets will be oversupplied in the first part of the year.

OPEC+ members stay focused on production cuts despite Mideast unrest

Saudi Arabia’s energy minister said that OPEC and its allies remain focused on using production cuts to reduce oil inventories to normal levels, undeterred by the flare up of political tensions in the Middle East.

Oil set for biggest weekly loss since July as Mideast risk eases

Oil headed for its biggest weekly loss since July as the prospect of an immediate confrontation between the U.S. and Iran abated, allaying fears of disruption to Middle East energy supplies.

Oil steadies after giving up gains from U.S.-Iran hostilities

Oil steadied after rapidly shedding all of its gains from the clash between the U.S. and Iran, as traders waited to see whether any further hostilities will disrupt exports from the Middle East.

Despite Trump’s claim, the U.S. still needs some Middle East oil

President Donald Trump said during an address from the White House Wednesday that the U.S. no longer needs oil from the Middle East, but American refineries still use the kind of oil that region produces.

Oil rally cools as Iranian strike causes no U.S. casualties

Oil’s rally faded as the U.S said Iranian airstrikes on military bases in Iraq didn’t cause any casualties, reinforcing speculation that Tehran is opting for limited retaliation over the killing of a top general.

Oil surges as Iran says it attacks Iraq base housing U.S. troops

Reports of the attacks reignited fears that Iran’s promised retaliation against the U.S. killing of a top general last week will spark a wider conflict in the Middle East that could disrupt global oil supplies.

Oil producers locking in price gains from Middle East tension

The hedging may extend a lifeline to producers, allowing them to maintain higher output at a time when analysts are expecting growth to slow.

Oil falls after surging to thee-month high on U.S.-Iran clash

Oil fell from a three-month high in London as traders waited to see whether the clash between the U.S. and Iran would lead to a disruption in Middle East crude supplies.

Oil touches $70 as supply disruption fears grow

Futures jumped by another 1.4% on Monday as the U.S. State Department warned of a “heightened risk” of missile attacks near military bases and energy facilities in Saudi Arabia.

Iran-driven oil rally is a boon to troubled U.S. producers

If the rally in oil prices persists, or if Middle Eastern supplies are cut off, deeply indebted producers could lock in hedges above $60 a barrel.

Oil industry braces for more Mideast turmoil after Soleimani killing

“We should all be bracing for a ferocious response,” said Helima Croft, chief commodities strategist at RBC Capital Markets. “The stage is set for a retaliatory spiral that could keep markets on edge well into 2020.”

Mexico hedges 2020 crude oil exports at $49 per barrel

Mexico’s government hedged oil exports for this year at an average $49 a barrel, locking in protection against low crude prices, the nation’s Finance Ministry said.

Oil soars toward $70/bbl in the wake of strike on Iran’s military leadership

Brent futures surged by more than 4% in busy trading on Friday to levels not seen since the attacks on Saudi Arabia’s oil facilities in September.

U.S. stock futures fall after airstrike kills Iranian commander

S&P 500 Index futures contracts expiring in March retreated as much as 0.7% after the attack that killed Qassem Soleimani, the Iranian general who led the Revolutionary Guards’ Quds force.

OPEC output falls as Gulf nations step up delivery of oil cuts

OPEC’s output declined last month as several Persian Gulf producers stepped up their implementation of cutbacks aimed at balancing global oil markets.