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Oil prices rise on tighter US market, Middle East tensions


  • Oil prices rose
  • Concerns over potential supply disruptions remained as fighting continued in Iraq
  • A fall in U.S. crude inventories supported prices


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Brent Crude Futures Still High

Risk premium returns to oil over Iraq fighting, rising US-Iran tensions

  • Iraqi forces captured Kurdish-held Kirkuk, a major oil city
  • Global price benchmarks rose as investors worried over supplies…
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China crude oil storage splurge is OPEC's best friend



By Clyde Russell

(The opinions expressed here are those of the author, a columnist for Reuters.)

LAUNCESTON, Australia, Oct 16 (Reuters) – China’s crude oil imports surged to the second-highest on record in September, but this isn’t a sign of supercharged demand in the world’s second-biggest economy. 723 more words

PresidentĀ Donald Trump's announcement of a new Iran strategy won't necessarily have an immediate impact on the oil market

Deterioration of Iran deal could have ‘meaningful impact’ on oil market next year: Analyst

  • President Donald Trump’s announcement of a new Iran strategy won’t necessarily have an immediate impact on the oil market, but that could change, experts warned on Friday.
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Big buyer of Venezuelan crude oil halts purchases from national oil company


  • The fifth largest U.S. buyer of Venezuelan crude, PBF Energy, has halted direct purchases from state-run oil company PDVSA.
  • PBF is the second buyer in as many months to go elsewhere for its oil and further disagreements could spell new hardships for PDVSA.
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Adopt "some extraordinary measures" in 2018 in order to rebalance the market!

OPEC calls on US shale oil producers to accept ‘shared responsibility’ of slashing global supply

  • “We urge our friends, in the shale basins of North America to take this shared responsibility with all seriousness it deserves,” OPEC General Secretary, Mohammed Barkindo, said on Tuesday.
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Oil prices tick higher as talk of extended output cuts offsets booming US crude exports


  • Saudi Arabia and Russia expect to agree to extend a production cut aimed at draining a globlal glut of crude oil.
  • Libya’s Sharara oilfield resumed production after a two-day break.
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