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Oil tops US$87 but rally will run into 'wall of supply' soon, CIBC energy trader says. Oil prices saw further gains this week as tensions in the Middle East escalated, propelling WTI crude to around US$87 a barrel, while the global benchmark, Brent, approached US$91, nearing its highest level since October. Commodities.
Get updated data about energy and oil prices. Find natural gas, emissions, and crude oil price changes.
Jun 19, 2024 · Oil rose as a drawdown in US crude inventories extended a rally that has been supported by a hot streak for equity markets. West Texas Intermediate ’s more-active August contract advanced 0.7% ...
Aug 31, 2023 · Updated on. September 1, 2023 at 12:20 PM PDT. Listen. 2:35. Oil prices surged above $85 as a monthslong effort by OPEC+ to reduce supplies gripped the physical market and China showed a new ...
Jan 24, 2024 · Oil inched higher, aided by gains across markets as China sought to stimulate its economy, and ahead of U.S. inventory data due later. Global benchmark Brent edged toward US$80 a barrel though it remains steadfastly rangebound. The government in Beijing planned measures to unleash more money to boost growth, while equities broadly gained.
Feb 29, 2024 · Oil extended this year’s rally to almost US$80 a barrel amid signs of a tightening physical market. West Texas Intermediate earlier breached the key level before paring gains to close up 2.2 per cent at the highest settlement price since November. Crude’s time spreads, which represent physical-market conditions, have exploded higher this ...
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Jun 18, 2023 · Updated on. June 19, 2023 at 10:59 AM PDT. Listen. 2:05. Oil fell as China’s plans to support its economy were seen as insufficient to reignite demand. China cut interest rates last week and ...
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