2019-07-08 13:05:00
OIL PRICE: ABOVE $64
REUTERS - Oil prices rose on Monday, boosted by escalating tensions around Iran's nuclear program and better-than-expected U.S. jobs data.
Brent crude futures were up 34 cents by 0908 GMT at $64.57. U.S. West Texas Intermediate (WTI) was up 18 cents at $57.69 a barrel.
Tehran said on Sunday it will soon boost its uranium enrichment above a limit set by a 2015 nuclear deal, known as the JCPOA.
President Donald Trump, who pulled the United States out of the deal last year, warned Iran to be careful.
Recent incidents involving oil tankers in the Mideast Gulf as well as the seizure in Gibraltar of a tanker carrying Iranian oil, also supported prices.
Strong U.S. economic data also put a floor under prices. U.S. job growth rebounded strongly in June, with government payrolls surging, the Labor Department's closely watched employment report showed on Friday, suggesting May's sharp slowdown in hiring was probably a one-off.
Employers added 224,000 jobs last month, the most in five months.
But the U.S.-China trade war has dampened prospects of global economic growth and oil demand.
However, the lack of concrete progress in resolving the acrimonious trade war between the United States and China means the bar could be very high for the U.S. Federal Reserve not to lower borrowing costs at its July 30-31 policy meeting.
Elsewhere, Japan's core machinery orders fell for the first time in four months in May, posting the biggest monthly drop in eight months in a worrying sign that global trade tensions are taking a toll on corporate investment.
The owner of Britain's biggest oil pipeline, Ineos, said on Sunday it had started to reduce flows on the Forties pipeline system to around 150,000 barrels per day until Tuesday to repair a processing unit at Scotland's Kinneil plant.
The pipeline system typically pumps around 450,000 bpd.
Meanwhile, U.S. energy companies this week reduced the number of oil rigs operating for the first time in three weeks as drillers follow through on plans to cut spending this year.
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Earlier:
2019, July, 5, 11:45:00
OIL PRICE: NEAR $63
U.S. West Texas Intermediate (WTI) crude futures CLc1 were down $0.79 at $56.55 per barrel by 0754 GMT. There was no settlement price on Thursday because of the Independence Day holiday in the United States. Front-month Brent crude futures LCOc1 were down $0.23 at $63.07 per barrel. Both benchmarks were set for their biggest weekly falls in five weeks.
2019, July, 4, 16:50:00
OIL PRICE: ABOVE $63
Front-month Brent crude futures LCOc1, the international benchmark for oil prices, were down 31 cents or 0.49% at $63.51 per barrel by 1320 GMT. Brent closed up 2.3% on Wednesday. U.S. West Texas Intermediate (WTI) crude futures CLc1 were down 51 cents or 0.89% at $56.83 per barrel. WTI closed up 1.9% on Wednesday.
2019, July, 3, 11:55:00
OIL PRICE: NEAR $62
Brent crude futures LCOc1 for September delivery were trading up 12 cents, or 0.2%, at $62.52 a barrel, U.S. crude futures for August CLc1 were up 16 cents, or 0.3%, at $56.41 a barrel.
2019, July, 2, 15:00:00
OIL PRICE: NEAR $65 YET
Brent crude futures LCOc1 were down 15 cents, or 0.23%, at $64.91 a barrel , U.S. crude futures for August CLc1 were down 12 cents, or 0.20%, at $58.97 a barrel
2019, July, 1, 12:05:00
OIL PRICE: ABOVE $66
Front-month Brent crude futures touched an intraday high of $66.75 a barrel and were up $1.80 at $66.54 a barrel by 0834 GMT. U.S. crude futures for August climbed $1.57 to $60.04 a barrel, after earlier hitting their highest in over five weeks at $60.28.
2019, June, 28, 12:15:00
OIL PRICE: ABOVE $65 YET
Brent crude futures were down 35 cents, or 0.5%, at $66.20 per barrel, WTI crude CLc1 futures were down 30 cents, or 0.5%, at $59.13 a barrel.
2019, June, 25, 12:50:00
U.S. FINANCIAL RISKS UP
In addition, a number of medium-term risks are growing. The financial system appears healthy but vulnerabilities in leveraged corporates and, potentially, in the nonbank system are elevated by historical standards. An abrupt reversal of the recent supportive financial market conditions or a deepening of ongoing trade disputes represent material risks to the U.S. economy, with concomitant negative outward spillovers. The U.S. public debt-to-GDP ratio is on an unsustainable path and is expected to continue rising throughout the medium-term, as aging related spending rises.
