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Oil above $30 on hopes of deal to tackle glutOil rose further above $30 a barrel on Tuesday, lifted by hopes that Opec and non-Opec producers may be edging closer to a deal to tackle one of the biggest supply gluts in decades. The Organization of the Petroleum Exporting Coun More… |
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Oil set for 10pc fall in November as glut persistsOil prices on Monday were on course to end November some 10 per cent lower as a global supply glut showed no sign of easing and weak stocks and a strong dollar further weighed on prices. Brent crude, the global oil benchmark, was More… |
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Gold dips to near 6-year lowGold extended earlier losses to hit its lowest level since early 2010 on Thursday, under pressure from expectations that the US Federal Reserve is on track to raise interest rates next month for the first time in nearly a decade. More… |
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Opec sees oil glut shrinking in 2016Opec said its oil output fell in October and forecast supply from rival producers next year would decline for the first time since 2007 as low prices prompt investment cuts, reducing a global supply glut. In a monthly report, the More… |
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Oil near 5-year low, set to post biggest annual dropBrent oil extended losses into a fourth session on Tuesday, with prices hovering close to a more than five-year low above $57 per barrel, as persistent worries about a global supply glut offset concerns about output disruptions in Libya. More… |
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Oil extends losses below $83 on supply glutBrent crude dropped further below $83 a barrel on Wednesday, stretching losses into a fifth session, as weak economic data from top energy consumer China stoked worries about demand in a market that is already battling a deepening global supply More… |
