Brent crude fell towards $81 a barrel on Wednesday, holding just above a four-year low as concerns over a mounting oil glut outweighed geopolitical and supply disruption risks in Ukraine and Libya.
With oil prices having fallen 30
Brent crude fell below $98 a barrel on Monday, down for the third session in four, as sluggish demand and abundant supplies outweighed a possible cut in oil output from the Organization of the Petroleum Exporting Countries (Opec).
Brent crude dropped towards $98 per barrel, while gold tumbled to its lowest in 8-1/2 months on Thursday as the dollar index jumped to a four-year peak on fears about a looming US interest rate increase.
Poor demand and abundant s
Brent crude eased for a fourth straight session on Tuesday but held above $100 a barrel after dropping below that level on the previous day for the first time in 16 months, with prices supported by hopes of production cuts by Opec.
Brent crude held steady below $103 a barrel on Tuesday, with new unrest in Opec oil producer Libya balanced by concerns of slowing oil demand growth due to weak economic recoveries in China and Europe.
Euro zone manufacturing grow
Brent crude oil fell towards $102 a barrel on Thursday, depressed by ample supply and lacklustre demand as global economic growth remains tepid.
Oil supply is expected to exceed demand this year, analysts forecast,
Brent crude nudged up towards $103 a barrel on Wednesday, recovering from a 14-month low hit last week although bountiful global supplies are checking gains.
Oil benchmarks on both sides of the Atlantic Basin have likely bottomed
Brent crude edged up towards $102 a barrel on Tuesday, but stayed near a 14-month low reached in the previous session on weak demand and easing concerns over risks to supply.
Brent shed nearly $2 on Monday, as investor worries ove
Brent crude oil slipped towards $110 a barrel on Friday but remained on course for its highest weekly close this year, as supply disruptions in Africa have tightened the market.
Domestic conflicts in Libya and South Sudan, as well
Brent crude oil steadied around $103 a barrel on Thursday as a drop in U.S. oil stocks and lower Iranian exports balanced worries the U.S. Federal Reserve may scale back its economic stimulus.
Expectations that the U.S. Federal Re