Oil prices fall after rally prompts profit-taking
Businessam Staff
August 21, 2017
Oil prices fell around 1 percent Monday as a rally at the end of last week prompted investors to close positions at a higher price, against a backdrop of signs the global market is starting to rebalance. Benchmark Brent crude futures LCOc1 were down 56 cents at $52.16 a barrel at 1342 GMT, after surging […]
Crude market shows enduring strength beyond seasonal peak
Businessam StaffAugust 18, 2017
The market for physical barrels of crude from places as far apart as Oman and Colombia is strengthening beyond the traditional seasonal peak in demand, a positive indicator for global benchmark futures prices that remain stuck near $50. Physical differentials, the price gap between individual grades of crude and widely traded markers like Brent or West Texas […]
China maintains position as world’s top crude oil buyer
Businessam StaffJuly 13, 2017
Posting 8.79 million barrels per day (bpd), China, the earth’s most populous country bought more crude oil than any other country in the world in the month of June, data obtained from customs showed Thursday. A total of 36.11 million tonnes of the commodity was imported into the country for the month and the imports […]