Prices
![Prices](/cache/06-2017/PRICE-188.520c6da7.jpg)
2017, June, 20, 14:40:00
OIL PRICE: STILL ABOVE $47
Brent futures were up 4 cents at $46.95 at 0214 GMT. On Monday, they fell 46 cents, or 1 percent, to settle at $46.91 a barrel.
That was their lowest since Nov. 29, the day before the Organization of the Petroleum Exporting Countries (OPEC) and other producers agreed to cut output for six months from January.
U.S. West Texas Intermediate crude futures were down 1 cent at $44.19 a barrel. They declined 54 cents, or 1.2 percent in the previous session, to settle at $44.20 per barrel, the lowest close since Nov. 14. The July contract will expire on Tuesday and August will become the front-month.
![Prices](/cache/06-2017/PRICE-177.e289f7d3.jpg)
2017, June, 9, 21:15:00
OIL PRICE: ABOVE $48
Brent crude oil LCOc1 was up 48 cents at $48.34 a barrel by 12:17 p.m. EDT. U.S. crude CLc1 was 39 cents higher at $46.04 a barrel. U.S. crude and Brent benchmarks remained on track for weekly declines of more than 3 percent, pressured by big U.S. inventories and heavy worldwide flows.
![Prices](/cache/06-2017/gas-104.6b1ba614.jpg)
2017, June, 9, 21:10:00
GAS PRICE: $3.020
At the New York Mercantile Exchange (Nymex), the July 2017 contract price fell 5¢ from $3.071/MMBtu last Wednesday to $3.020/MMBtu yesterday.
![Prices](/cache/06-2017/price-161.845507f2.jpg)
2017, June, 8, 18:05:00
OIL PRICE: ABOVE $47
Brent crude LCOc1 was up 43 cents by 0900 GMT at $48.49 a barrel, having fallen 4 percent the day before, while U.S. crude futures CLc1 rose 38 cents to $46.10 a barrel.
![Prices](/cache/06-2017/PRICE-160.30b3e3d7.jpg)
2017, June, 7, 18:20:00
OIL PRICE: ABOVE $49 ANEW
Brent crude prices LCOc1 were at $49.70 per barrel at 1351 GMT, down 42 cents. Brent is about 8 percent below its open on May 25, when OPEC and other producers agreed to extend oil output cuts through to the first quarter of 2018.
U.S. light crude prices CLc1 were at $47.69 per barrel, down 50 cents.
![Prices](/cache/06-2017/PRICE-150.1aaf55c4.jpg)
2017, June, 7, 18:10:00
OIL PRICES: $53 - $56
EIA forecasts Brent spot prices to average $53/b in 2017 and $56/b in 2018.
![Prices](/cache/06-2017/USA-366.6b91254d.jpg)
2017, June, 7, 18:05:00
GLOBAL OIL OVERSUPPLY
The US Energy Information Administration lowered its crude-oil price forecast and raised its US production outlook for 2018. The lower price forecast reflects the possibility of a return to modest oversupply in global oil markets in 2018.
![Prices](/cache/06-2017/PRICE-148-2.cda383de.jpg)
2017, June, 5, 15:20:00
OIL PRICE: ABOVE $50
Global benchmark Brent LCOc1 advanced 1.1 percent to $50.48 a barrel. U.S. oil CLc1 also climbed 1 percent to $48.17.
![Prices](/cache/06-2017/PRICE-146.c753b872.jpg)
2017, June, 5, 15:15:00
OIL PRICES: $50 - $60
A crude price in the $50s is the new reality for bosses of some of the world’s largest producers as output caps from OPEC and its allies are balanced out by rising U.S. shale.
![Prices](/cache/06-2017/PRICE-138.a26b3d30.jpg)
2017, June, 2, 16:35:00
OIL PRICE: ABOVE $49
Benchmark Brent crude futures LCOc1 were off by nearly 3 percent at $49.14 per barrel at 1034 GMT (6:34 a.m. ET), down $1.49 from the previous close.
U.S. West Texas Intermediate crude CLc1 futures fell $1.45 cents to $46.91 per barrel.
![Prices](/cache/06-2017/usa-363.0991315e.jpg)
2017, June, 2, 16:10:00
U.S. OIL INVENTORIES DOWN
US crude oil inventories fell for an eighth straight week and drawdowns appear to be expanding.
![Prices](/cache/06-2017/oil-422.01ae7e2d.jpg)
2017, June, 1, 19:15:00
OIL COULD BE $50
Pumping crude from seabeds thousands of feet below water is turning cheaper as producers streamline operations and prioritize drilling in core wells, according to Wood Mackenzie Ltd. That means oil at $50 a barrel could sustain some of these projects by next year, down from an average break-even price of about $62 in the first quarter and $75 in 2014, the energy consultancy estimates.
![Prices](/cache/05-2017/PRICE-130.496cb289.jpg)
2017, May, 31, 17:50:00
OIL PRICE: ABOVE $50
Benchmark Brent oil LCOc1 was down $1.45, or 2.8 percent, at $50.39 a barrel by 1157 GMT (7.57 a.m. ET), after earlier touching $50.13 a barrel, the weakest since May 10. U.S. light crude CLc1 traded at $48.43, down $1.23 cents, or 2.5 percent.
![Prices](/cache/05-2017/OIL-420.1cd51c1f.jpg)
2017, May, 30, 20:45:00
OIL PRICES ANALYSIS
West Texas Intermediate futures were down 0.8 percent from Friday’s closing price following the U.S. Memorial Day holiday on Monday. OPEC and Russia’s deal to extend output limits through March was initially met with a sell-off as deeper cuts or a plan for the rest of 2018 weren’t proposed. Saudi Arabia’s Energy Minister Khalid Al-Falih said the strategy is working and stockpiles will drop faster in the third quarter.
![Prices](/cache/05-2017/PRICE-121.3d84f007.jpg)
2017, May, 29, 13:50:00
OIL PRICE: ABOVE $51 ANEW
Brent crude futures were trading down 19 cents at $51.96 per barrel at 0857 GMT. The contract ended the previous week down nearly 3 percent.
U.S. West Texas Intermediate (WTI) crude futures were also down 19 cents at $49.61 per barrel.