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Oil prices head south once more LONDON: Oil prices turned lower on Monday after gains last week, but losses were limited as fighting in Yemen fuelled fears about a supply disruption in the Middle East, analysts said. US benchmark West Texas Intermediate fell 33 cents to $56.82 a barrel compared with Friday's close as light profit-taking set in.Brent North Sea crude declined 35 cents to stand at $64.93 a barrel nearing midday in London. Oil prices will "continue to receive support as there seems to be no sign of abatement in the conflict in Yemen," said energy analyst Sanjeev Gupta at business consultancy EY. Daniel Ang, investment analyst at Singapore-based Phillip Futures, said the oil market remains "fragile," with "geopolitical tensions likely to play a key role on crude prices." Saudi Arabia-led warplanes hit the rebel-held presidential palace in Yemen's capital Sanaa Sunday, as fighting raged between Shiite Huthi rebels and fighters loyal to the exiled ...
Oil prices trade near 2015 highs on Yemen worries LONDON: Brent crude looked set to finish the week near 2015 highs on Friday as air strikes in Yemen stoked concerns over the security of Middle East oil shipments. A softer US dollar and strong economic indicators in Europe and Asia also lent support to oil prices, which have surged by nearly $10 a barrel this month amid rising tension in the Middle East and slowing US production growth.Brent crude for June delivery was up ...
Oil diverges on US energy report LONDON: Global oil prices diverged on Wednesday as traders digested the latest weekly crude inventories report from top consumer the United States.The market was also under pressure after a Saudi-led coalition declared an end to four weeks of air strikes in Yemen.In London late afternoon deals, Brent North Sea crude for delivery in June delivery rose 59 cents to $62.68 per barrel.On the downside, US benchmark West Texas Intermediate for June dipped 35 cents to ...
Oil hits peak as Saudi resumes Yemen strikes LONDON: Global oil prices rebounded to a four-month peak Thursday as Saudi-led coalition warplanes launched new strikes in Yemen, stoking new supply concerns over the crude-rich Middle East.Brent North Sea crude for delivery in June delivery soared to $65.13 per barrel.The contract later stood at $64.86 in London late afternoon deals, up $2.13 from Wednesday's closing level.US benchmark West Texas Intermediate for June meanwhile jumped $1.78 to $57.95 a barrel"Crude oil prices rebounded to reach ...
Oil prices lifted by US production decline LONDON: Oil prices rose on Wednesday after the US government's Energy Information Administration (EIA) reported a decline in US production. Brent crude for June delivery was up 66 cents at $62.74 a barrel by 1358 GMT, after touching an intraday low of $61.39. US crude for June delivery was up 20 cents to $56.81 a barrel, after reaching a low of $55.73 earlier in the session. The EIA said on Wednesday that US production declined ...

 





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