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2019-09-18 18:35:00

OIL PRICE: ABOVE $63

OIL PRICE: ABOVE $63

REUTERS - Oil prices retreated on Wednesday, extending the previous day's declines after Saudi Arabia said it would quickly restore full production following last weekend's attacks on its facilities.

Tension in the Middle East remained elevated, however, after Saudi Arabia said it would provide evidence on Wednesday linking Iran to the attacks. The United States had already said it believed the attacks against the world's top oil exporter originated in southwestern Iran.

Iran has denied involvement in the strikes.

Brent crude oil futures LCOc1 were down 75 cents, or 1.16%, at $63.80 a barrel by 1330 GMT. U.S. West Texas Intermediate (WTI) crude CLc1 futures were down $1.15, or 1.94%, at $58.19.

Oil prices tumbled 6% on Tuesday after the Saudi energy minister said the kingdom had restored oil supplies to customers at their level before the attacks by drawing from its inventories. Saturday's attacks effectively shut 5% of global oil output.

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Earlier:

OIL PRICE: ABOVE $63
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%.
OIL PRICE: ABOVE $63
2019, September, 16, 15:20:00
OIL PRICE: NEAR $66
Brent crude futures, the international benchmark, rose as much as 19.5% to $71.95 per barrel, WTI futures climbed as much as 15.5% to $63.34
OIL PRICE: ABOVE $63
2019, September, 11, 12:00:00
OIL PRICE: NEAR $63
Brent rose 40 cents, or 0.6%, to $62.78 a barrel , WTI were up 37 cents, or 0.6%, to $57.77 a barrel.
OIL PRICE: ABOVE $63
2019, September, 10, 18:05:00
OIL PRICE:ABOVE $63
Brent was up 67 cents or 1.07% at $63.26 a barrel, WTI were up 63 cents, or 1.09%, at $58.48 a barrel.
OIL PRICE: ABOVE $63
2019, September, 6, 13:55:00
OIL PRICE: NEAR $60 YET
Brent was up 6 cents at $61.01 a barrel, WTI was up 5 cents at $56.35 a barrel.
OIL PRICE: ABOVE $63
2019, September, 5, 15:20:00
OIL PRICE: NEAR $61
Brent was up 17 cents at $60.87 a barrel, U.S. West Texas Intermediate (WTI) crude rose 1 cent to $56.27.
OIL PRICE: ABOVE $63
2019, September, 4, 18:20:00
OIL PRICE: NEAR $60
Brent was up $1.55, or 2.66%, at $59.81 a barrel, West Texas Intermediate futures CLc1 gained $1.56, or 2.66%, to $55.50 a barrel.
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Tags: OIL, PRICE, BRENT, WTI