Crude Oil Trading Range For The Day Is 4115-4363

Crude oil trading range for the day is 4115-4363.

Crude oil dropped as higher U.S. crude inventories and easing worries about U.S.-Iran standoff pushed down prices for a second straight session.

But gains were muted as Washington and Tehran looked to defuse a crisis in the crude-producing region.

U.S. crude oil stockpiles rose unexpectedly last week and gasoline inventories surged by their most in a week in four years.

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Crude Oil Trading Range For The Day Is 4289-4407

Crude oil trading range for the day is 4289-4407.

Crude oil prices rose amid easing worries about outlook for energy demand on hopes the U.S. and China will soon sign the phase one trade deal.

U.S. crude stocks fell while gasoline and distillate inventories rose, the Energy Information Administration said.

Crude stocks at the Cushing, Oklahoma, delivery hub fell by 265,000 barrels in the last week, EIA said.

U.S. gasoline stocks rose by 2.5 million barrels in the week to 237.3 million barrels, the highest since March. Distillate.

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Crude Oil Trading Range For The Day Is 3986-4294

Crude oil trading range for the day is 3986-4294.

Crude oil gained after a report from the Energy Information Administration showed a steeper than expected weekly drop in crude oil inventories.

The report said crude oil inventories tumbled by 4.9 million barrels

Iraqi Oil Minister Thamer Ghadhban said OPEC members were leaning towards approving deeper oil output cuts at a meeting and no member was talking about increasing production.

Crude oil inventories in the U.S. fell by more than expected last week, according to the industry group American Petroleum Institute.

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Crude Oil Trading Range For The Day Is 3817-4261

Crude oil trading range for the day is 3817-4261.

Crude oil dropped after update U.S. crude oil production in September rose to a new record of 12.46 million barrels per day from 12.397 million bpd in August. Monday, December 2, 2019

The International Energy Agency raised its estimate of non-OPEC oil output growth next year to 2.3 million b/d while dropping its estimate of the "call" on OPEC crude

Russia's oil output in November stood at 11.24 million barrels per day.

Russian oil companies proposed not to change their output quotas that are part of the deal that runs until end-March.

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Crude Oil Gained As Positive Comments From The United States And China

Crude oil trading range for the day is 4108-4218.

Crude oil gained as positive comments from the United States and China rekindled hopes in global markets that the world's two largest economies could soon sign an interim deal. Wednesday, November 27, 2019

Global oil demand in the third quarter of 2019 grew by 1.1 million barrels a day, more than double the 435,000 barrels a day

OPEC crude production came in at 29.9 million barrels a day, down 2.5 million from the same period last year.

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Crude Oil Dropped Due To Excess Supply In The Market

Crude oil trading range for the day is 4008-4196.

Crude oil dropped due to excess supply in the market and on uncertainty over a potential trade deal between the U.S. and China.

U.S. shale production is likely to climb by 49,000 barrels a day in December to 9.133 million barrels a day.

Saudi Arabia's crude oil exports in September fell by 3% to 6.67 million barrels per day from 6.88 million bpd in August, official data showed.

Crude stocks fell by 20.27 million bpd to 152.48 million bpd while domestic refinery crude throughput rose by 10,000 bpd to 2.584 million bpd.

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Crude Oil Trading Range For The Day Is 3942-4122

Crude oil trading range for the day is 3942-4122.

Crude oil dropped amid doubts over whether OPEC and other countries will continue to restrain output

OPEC Secretary-General Mohammad Barkindo said that the oil market outlook for 2020 may have upside potential, appearing to downplay any need for deeper cuts to production.

OPEC released its 2019 World Oil Outlook, in which the producer group said it would supply a diminishing amount of oil in the next five years.

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Crude Oil Dropped As Prices Came Under Pressure From Rising U.S. Crude Oil Stocks

Crude oil trading range for the day is 3754-3990.

Crude oil dropped as prices came under pressure from rising U.S. crude oil stocks and weak factory activity in China.

Crude inventories rose 5.7 million barrels in the week to Oct. 25, the U.S. Energy Information Administration said

The American Petroleum Institute had previously reported a decline of 708,000 barrels, raising hopes that official figures would also show a fall.

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Crude Oil Gained After OPEC Sources States That OPEC

Crude oil trading range for the day is 3733-3955.

Crude oil gained after OPEC sources states that OPEC and allies will consider deeper oil cuts at December meeting due to weak demand growth outlook in 2020.

U.S. crude stockpiles were expected to have risen for the sixth straight week, while refined inventories likely fell last week.

China has issued more crude oil import quotas for mostly private refiners that will allow them to bring in a further 12.9 million tonnes for the rest of 2019.

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Crude Oil Gained Following Media Reports That China Was Open To Agreeing

Crude oil trading range for the day is 3673-3873.

Crude oil gained following media reports that China was open to agreeing a partial trade deal with the United States.

Turkey's military operation in northern Syria also supported prices as it could impact regional oil production.

U.S. crude stocks rose last week as refineries cut output, while gasoline and distillate inventories fell, the Energy Information Administration said.

U.S. crude stocks rose last week, while gasoline and distillate stocks drew, data from industry group the American Petroleum Institute showed.

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Crude Oil Prices Dropped On Fading Concerns Of Supply Shortfalls And Conflicts

Crude oil trading range for the day is 3722-3964.

Crude oil prices dropped on fading concerns of supply shortfalls and conflicts in the Middle East after the Sept. 14 attack on Saudi Arabia.

Output from the Organization of the Petroleum Exporting Countries and Russia fell in September while production from the United States dropped for a third month in July.

OPEC's output fell to the lowest in eight years in September at 28.9 million barrels per day (bpd), down 750,000 bpd from August's revised figure.

Russia's output declined to 11.24 million bpd in Sept. 1-29, down from 11.29 million bpd in the previous month.

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Crude Oil Prices Eased As Weak Manufacturing Data From Europe And Japan

Crude oil trading range for the day is 4012-4194.

Crude oil prices eased as weak manufacturing data from Europe and Japan focused market attention on the gloomy outlook for demand.

Saudi Arabia has restored more than 75% of crude output lost after the attacks on its facilities and will return to full volumes by early next week.

Saudi oil production from its Khurais plant is now at more than 1.3 million barrels per day, while current production from its Abqaiq plant is at about 3 mbpd.

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Crude Oil Gained After On Fresh Tensions In The Middle East

Crude oil trading range for the day is 4113-4259.

Crude oil gained after on fresh tensions in the Middle East after a key Saudi Arabian supply hub was knocked out in an attack last weekend.

Saudi Arabia's production dropped by almost half after an attack crippled a major oil processing facility.

In the United States, meanwhile, torrential rain from Tropical Storm Imelda has forced a major refinery to cut production and shut a key oil pipeline.

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Crude Oil Prices Dropped With Traders Taking Some Profits After Recent Strong Gains

Crude oil trading range for the day is 4061-4273.

Crude oil prices dropped with traders taking some profits after recent strong gains and looking ahead to weekly inventory reports.

Early on in the session gained on the hopes that OPEC and its allies may agree to extend an agreement to curb output in order to support prices.

OPEC oil output rose in August, gaining for the first month this year as higher supply from Iraq and Nigeria outweighed restraint by Saudi Arabia.

S&P Global Platts said it would launch new price assessments for U.S. crude for Asian buyers from Oct. 1, as the United States exports more oil to the East.

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CPO Trading Range For The Day Is 550.3-561.3

CPO trading range for the day is 550.3-561.3.

Crude palm oil dropped on short covering after prices gained due to higher tariff value and reports of possible increase in import duty.

According to SEA, palm oil exports up by 47.7% on year in July at 8.13 lt in July while overall palm oil imports are up by 13% on year.

Indonesia's palm oil production and exports in July are likely to shrink from a month earlier.

Crude palm oil prices in the spot market gained by 2.30 rupees and settled at 557.50 rupees.

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Crude Oil Dropped Amid Ongoing U.S.-China Trade War

Crude oil trading range for the day is 3744-4048.

Crude oil dropped amid ongoing U.S.-China trade war, with soft South Korean data adding to concerns over emerging markets and a rise in OPEC output.

Output from the OPEC rose in August for the first month this year as higher supply from Iraq and Nigeria outweighed.

OPEC, Russia and other non-members, known as OPEC+, agreed in December to reduce supply by 1.2 million bpd from Jan. 1 this year.

Hedge funds and other money managers cut their net long U.S. crude futures and options positions in the week to Aug. 27, the U.S. CFTC said.

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Crude Oil Settled Flat On Worries About A Slowdown In Economic Growth

Crude oil trading range for the day is 3886-4020.

Crude oil settled flat on worries about a slowdown in economic growth and the impact on oil demand due to the trade war between the world's two biggest oil consumers.

Russia's Novak says Russia's august oil cuts will be slightly below those agreed with OPEC+

Russia's Novak says OPEC and NON-OPEC countries to discuss the deal and market situation at monitoring committee meeting on sept. 12

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Crude Oil Trading Range For The Day Is 3753-4045

Crude oil trading range for the day is 3753-4045.

Crude oil jumped after U.S. President Donald Trump said that China wanted to restart trade talks, potentially easing tensions between the two countries.

Concerns for the global economy have increased as trade tensions between Beijing and Washington mounted in recent days.

U.S. energy companies cut the most oil rigs in about four months last week, with the rig count falling to the lowest since January 2018.

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Crude Oil Prices Jumped On The Expectation That Saudi Arabia

Crude oil trading range for the day is 3619-379

Crude oil prices jumped on the expectation that Saudi Arabia, and other producers OPEC may take action to support the market by reducing supply.

Saudis considering all options available to stop oil drop according to officials

A surprise build in U.S. crude inventories added to worries that the China-U.S. trade war could further dampen demand growth this year.

Crude oil imports to China, in July rose 14% from a year earlier as its new refineries ramp up purchases.

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Crude Oil Trading Range For The Day Is 3837-3975

Crude oil trading range for the day is 3837-3975.

Crude oil settled flat amid Middle East tensions and a big fall in U.S. crude stocks.

Saudi Energy Minister says hopes to expand east west crude pipeline 7mbpd in a couple of years, which bypasses the Strait of Hormuz

U.S. crude stocks fell by nearly 11 million barrels last week, the Energy Information Administration reported, well above expectations for a drop of 4 million barrels.

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