Crude oil price up despite inventory build up in US
Despite the more-than-expected increase in the inventories in the US, crude oil traded higher on Friday morning. Prospects of tighter supplies in the coming weeks kept the energy commodity elevated. At 9.50 am on Friday, April Brent oil futures were up by 0.81 per cent at $82.88 and April crude oil futures on WTI were […]
Crude oil declines awaiting minutes of US Fed Reserve meeting
A strong US dollar and the expectations of an aggressive increase in interest rates in the US-led crude oil futures to trade lower on Tuesday morning. At 9.57 am on Tuesday, April Brent oil futures were at $83.18, down by 1.06 per cent, and April crude oil futures on WTI were at $76.65, down by […]
Crude oil rises on hopes of favourable Fed, OPEC meetings
Crude oil traded higher on Wednesday morning, fuelled by recent data showing signs of recovery in the US economy and market expectations that the US Federal Reserve may not resort to an aggressive interest rate hike later today. At 10 am on Wednesday, April Brent oil futures were at $85.72, up by 0.30 per cent; […]