Oil market strikes 2015 highs on Libya tensions

Last Updated: Wednesday, May 6, 2015, 19:16

Global oil prices hit 2015 peaks today as fresh tensions in oil producer Libya raised concerns about a supply disruption in the Middle East, analysts said.

Oil firms to $67, near 2015 high, as Libya output slows

Last Updated: Tuesday, May 5, 2015, 16:52

Brent crude oil rose to $67 a barrel on Tuesday, just below its 2015 high, after protests stopped crude flows to the eastern Libyan oil port of Zueitina, hampering exports.

Barclays raises crude oil price forecasts

Last Updated: Tuesday, April 28, 2015, 12:06

Barclays raised its 2015 and 2016 average crude price forecasts on Tuesday, citing geopolitical tensions, unplanned production outages and lower natural gas prices in the United States.

Oil prices down in Asian trade

Last Updated: Tuesday, April 28, 2015, 10:17

Oil prices fell in Asia on Tuesday after a senior Saudi official signalled that the world's top crude exporter has no intention of cutting production despite a global supply glut, analysts said.

BofA raises oil price forecasts for 2016

Last Updated: Monday, April 27, 2015, 17:56

Bank of America Merrill Lynch has revised upward its oil price forecasts for 2016, but said it remained bearish amid oversupply, weak demand from emerging markets, a return of US shale production and expectations of a deal on Iran.

Oil's 45%t rebound could be markets' next headache

Last Updated: Monday, April 27, 2015, 17:52

Whisper it, but the next challenge for financial markets and policymakers may not be deflation, but the remarkable surge in oil prices from the six-year low touched in January.

Oil hits 2015 high on Yemen worry; US gasoline at November peaks

Last Updated: Friday, April 24, 2015, 09:28

Crude oil prices settled up 3 percent on Thursday, hitting 2015 highs, while U.S. gasoline reached 5-month peaks after Saudi Arabia and its allies maintained a bombing blitz in Yemen that heightened concerns about the security of Middle East oil supplies.

Oil prices down in Asian trade

Last Updated: Wednesday, April 22, 2015, 09:34

Oil prices fell in Asia today after a Saudi-led coalition declared an end to four weeks of air strikes in Yemen and ahead of a key US supply report.

Oil falls from 2015 peaks, Brent jumps 9.6% on the week

Last Updated: Saturday, April 18, 2015, 02:43

Crude futures fell from 2015 peaks in choppy trading on Friday, but Brent`s 9.6 percent weekly gain was its biggest in more than five years as Middle East turmoil and signs of lower U.S. production lifted prices.

OPEC oil output surge boosts surplus, despite higher demand

Last Updated: Thursday, April 16, 2015, 19:38

OPEC`s oil output has surged in March, the producer group said in a report, adding to excess supply in the market despite more evidence that its strategy of letting prices fall to hurt other producers is taking effect.

Oil above $58 on US shale output report, Mideast

Last Updated: Tuesday, April 14, 2015, 17:35

Crude oil rose on Tuesday after a forecast that U.S. shale oil output would record its first monthly decline in more than four years and on tension in Yemen, where top oil exporter Saudi Arabia is embroiled in a civil war.

Brent nudges up to near $57, set for weekly gain

Last Updated: Friday, April 10, 2015, 13:03

Brent crude edged up on Friday, supported by strong economic data from Germany that lifted the oil demand outlook and as worries about a quick return of Iranian supplies eased.