Futures in New York rebounded somewhat on Friday but still ended the week down 6.6 percent.
One could logically argue that crude oil prices should be heading toward $100 a barrel given the bullish factors in global oil markets. Why prices have stayed low is something of a mystery that cannot be explained by President Trump’s Twitter habits alone.
It’s been a month since Russian oil flows through the Druzhba pipeline were suspended due to contamination, and despite Russia’s assurances that clean oil will resume flowing through the pipeline westward to Europe in the second half of May, analysts and traders say the progress is very slow while costs...
U.S. West Texas Intermediate and international benchmark Brent crude oil futures are in a position on Friday to post their biggest weekly loss of the year. Most of the loss can be attributed to a steep decline on Thursday, which produced the worst single-day performance in 2019.