Page 68 - Oil Prices

Oil prices remain near 2016 highs on global supply disruptions

Output cuts, supply disruptions push up prices as Brent trades 3 cents higher at $49.31, while US WTI is seen at $48.31

Oil on a 7-mnth high

Oil prices have advanced more than 80 per cent from a 12-year low earlier this year on signs the global glut will ease as US production declines

Rising oil prices: Government's worst nightmare coming true

One of the few things that were in favour of Indian economy was lower oil prices, which emboldened the government to increase spending

Oil extends gains, US crude at seven-month high on supply concerns

Goldman Sachs now sees US crude trading as high as $50 in the second half of 2016

Oil prices jump as Goldman Sachs says market flips into deficit

Supply disruptions have now triggered a U-turn in the outlook of Goldman Sachs, which long warned of overflowing storage and another looming price crash

Oil prices rise on Nigeria outages and Goldman forecast

In Nigeria, output has fallen to its lowest in decades following several acts of sabotage

Oil rises towards six-month high after IEA sees tighter supply

It also noted that output from Nigeria, Libya and Venezuela is down 450,000 bpd from a year ago

Oil prices steady as return of Canadian output offsets tighter global market

However, an unexpected fall in US crude inventories along with a tightening global market were supporting prices, traders said

Oil prices subdued in Asia after touching 2016 highs

Investors locked in profits after the previous day's surge to six-month highs that was fuelled by a surprise decline in US stockpiles

Oil prices rise after unexpected decline in US crude stockpiles

Oil climbed after a government report showed that US crude inventories unexpectedly declined.Futures rose as much as 3.3 per cent. Crude stockpiles fell 3.41 million barrels last week, the Energy Information Administration said. Analysts surveyed by Bloomberg had projected a 750,000-barrel gain. Crude output fell to 8.8 million barrels a day, the lowest since September 2014. Refineries usually bolster operating rates in May to meet summer gasoline demand, which leads to lower crude supplies in months ahead. "The market has to be happy with these inventory numbers," said Rob Haworth, a senior investment strategist in Seattle at US Bank Wealth Management, which oversees $125 billion of assets. "It's a little early in the season to see crude inventories drop. We are also getting lower production, which is very bullish."West Texas Intermediate for June delivery rose $1.31, or 2.9 per cent, to $45.97 a barrel at 11:41 am on the New York Mercantile Exchange. The contract dropped as much as 1

Oil gains on Nigerian supply disruption

The fires in Canada's oil sands field region have knocked out around 1.5 million barrels of daily crude production, leading to a significant tightening of global markets

Oil prices stable as brimming storage counters supply disruptions

Adding Canada's disruptions to declines in Latin America and Africa, overall output has likely fallen by over 2 million bpd this year

Oil traders cautious after plunge as Canada fires ease

Canadian authorities were focusing on restoring output after the fires that have raged for a week forced oil companies in the area to shut down operations

Oil prices dip as strong dollar outweighs supply disruptions

Adding to the supply outage in Canada due to fire, is an ongoing decline in US output

Oil prices up as Canada wildfires threaten crude output

Authorities say wildfires are burning out of control in the Alberta oil sands region of Canada, which mines and ships heavy crude south to the US market

Oil extends losses on supply concerns, stronger dollar

Iran ramps up production, while traders await the release of inventories later in the day

Oil prices dip on rising Middle East supply

The rise in production in the Middle East threatened to keep a global supply overhand in place for longer

Oil prices retreat from 2016 highs on OPEC output boost

Crude production by the Organization of the Petroleum Exporting Countries rose in April to 32.64 million bpd

Oil prices hit new 2016 highs despite lingering excess

Falling US production tempered concerns about a lingering excess of physical oil.

Oil prices hit fresh 2016 highs on weak dollar, US output fall

One of the main repercussions of the global oil price rout between 2014 and early 2016 has been a deep economic crisis in crude export-reliant Venezuela, where political risk consultancy Eurasia Group said the government faces default as the state runs out of cash to keep its oil pumps running