2019-09-26 14:00:00
OIL PRICE: ABOVE $61
REUTERS - Oil steadied on Thursday due to optimism that the United States and China could resolve their trade dispute, though prices came under pressure from Saudi Arabia's moves to restore output quickly after attacks on its oil installations.
Brent crude LCOc1 futures were at $62.55 a barrel, up 16 cents or 0.26%, by 0856 GMT.
U.S. West Texas Intermediate (WTI) crude futures CLc1 gained 13 cents, or 0.23%, to $56.62 a barrel.
U.S. President Donald Trump signaled on Wednesday that a resolution to the dispute with China might be near, which could eventually boost fuel demand.
A day after delivering a stinging rebuke to China over its trade policies, Trump said Beijing wanted to make a deal "very badly" and that a deal "could happen sooner than you think".
Trump and Japanese Prime Minister Shinzo Abe also signed a limited trade deal that would open Japanese markets to some $7 billion of U.S. products annually.
On Wednesday, Brent and WTI fell to their lowest since the Sept. 14 attacks on Saudi Arabia.
Prices were weighed down by a surprise 2.4-million-barrel build in U.S. crude inventories last week, and a faster-than-expected recovery of Saudi output after the drone and missile strikes on two of its oil-processing plants.
The world's top oil exporter has restored its production capacity to 11.3 million barrels per day, sources briefed on Saudi Aramco's operations told Reuters.
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Earlier:
2019, September, 25, 15:15:00
OIL PRICE: NEAR $61
Brent were down $1.05 cents at $62.05 a barrel, WTI dropped to $56.47 a barrel, down 82 cents.
2019, September, 24, 18:15:00
OIL PRICE: ABOVE $62
Brent dropped 58 cents to $64.19 a barrel, WTI were at $58.15, down 49 cents.
2019, September, 23, 14:30:00
OIL PRICE: NEAR $63
Brent crude fell 30 cents to $63.98 a barrel, WTI was down 38 cents to $57.71.
2019, September, 20, 15:45:00
OIL PRICE: NEAR $64
Brent crude LCOc1 was up 7.7% since last Friday’s close, the biggest weekly rise since January. The front-month November contract was at $64.88 a barrel, up 48 cents, by 1113 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 rose 59 cents to $58.72 a barrel, set to post a gain of over 7% for the week.
2019, September, 19, 14:35:00
OIL PRICE: ABOVE $64
Brent gained $1.44 to $65.04 a barrel, WTI was up 89 cents at $59 a barrel.
2019, September, 18, 18:35:00
OIL PRICE: ABOVE $63
Brent were down 75 cents, or 1.16%, at $63.80 a barrel, WTI were down $1.15, or 1.94%, at $58.19.
2019, September, 17, 13:10:00
OIL PRICE: ABOVE $67
Brent was down 36 cents, or 0.5%, at $68.66 a barrel, and WTI was down 57 cents, or 0.9%, at $62.33 a barrel. Earlier, the crude benchmarks both fell by around 2%.
