OPEC

Brent crude oil hovered near last week’s two-year low and traded at $96.38 at 5:50 GMT. The commodity has been under pressure recently as a global supply glut continued to grow while some of the world’s largest consumers struggled to kick start their economies. Over the weekend,...

Brent crude oil remained below $97 on Thursday as the growing supply glut continued to outweigh concerns about the conflict in the Middle East. The commodity traded at $96.65 at 7:40 GMT as investors speculated about whether OPEC would cut supplies in order to bring prices back above $100....

The U.S. dollar is the strongest it has been since June 2010, according to the U.S. Dollar Index. After breaking above 85 resistance, the currency rallied to 85.12. Strength is coupled with record high stock prices, strong bonds and weak commodities. Major Averages The Dow Jones...

Brent crude oil edged above $97 on Tuesday morning, helped by better than expected economic data out of China. The commodity traded at $97.06 at 8:00 GMT with a global supply glut continuing to weigh on prices. HSBC/Markit Flash PMI data from China pleasantly surprised, with the nation’...

Brent crude oil was set to finish the week below $98 as a supply glut and a stronger dollar both weighed on prices. The commodity traded at $97.58 at 9:30 GMT while investors kept a close eye on OPEC as the group decided whether to cut supplies in order to boost prices above $100. Both Europe...

Brent crude oil remained below $99 on Thursday morning after the dollar gained momentum on Wednesday following the Federal Reserve’s policy meeting. The commodity traded at $98.88 at 10:40 GMT on Thursday as investors wondered whether OPEC would step in and cut supplies to boost prices...

Brent crude oil made its way higher on Wednesday as investors became more cautious about the outcome of the Fed meeting, and many began to speculate that OPEC will cut its output in the face of falling prices. The commodity traded at $98.88 at 10:40 GMT, still plagued by the global supply glut...

Brent crude oil held below $99 for a second day on Friday as a global supply glut coupled with a strong dollar weighed on prices. The commodity traded at $98.48 at 10:20 GMT as investors wondered whether it had hit rock bottom yet. Weak global demand has been a driving factor in crude prices...

Brent crude oil remained below $100 on Wednesday with market oversupply weighing on prices. The commodity traded at $99.21 at 10:45 GMT as the dollar strengthened and investors worried about the state of the global economy. For the moment, oil markets are oversupplied as stalling economies in...

Brent crude oil looked poised to finish the month on a loss on Friday as it traded steadily above $102. The commodity traded at $102.10 at 8:40 GMT with market oversupply weighing on prices. Reuters reported that the Organization of the Petroleum Exporting Countries ramped up its supply in...

Brent crude oil traded steadily below $102 on Thursday morning as investors continued to worry about oversupply rather than focusing on instability across the globe. The commodity traded at $101.64 at 8:50 GMT following the release of disappointing data from both the eurozone and China. China...

Brent crude oil remained near a 14-month low on Tuesday with geopolitical tension easing and investors worried about a supply glut. The commodity traded at $101.82 at 7:00 GMT as markets waited for U.S. oil inventory data due out later in the day. A Reuters survey showed that most analysts...

Brent crude oil found some support from a weaker dollar on Thursday, but remained under pressure as economic data from the eurozone fueled concerns about an oversupplied market. The commodity traded at 102.15 at 8:30 GMT, near a 13-month low. The dollar took a hit after the U.S. Labor...

Brent sunk to a 13-month low on Wednesday as a global oversupply outweighed concerns about instability in all corners of the world. The commodity traded at $102.77 at 8:15 GMT on Wednesday morning following a report that showed OPEC’s output had increased. The Organization of the...

Brent crude oil looked poised to post its largest monthly loss in more than a year on Thursday as it traded at $105.72 at 7:45 GMT. The commodity was under pressure as data indicated that global supply may be far surpassing demand. On Wednesday, the Energy Information Administration reported...