Finance Forex

Crude Oil Prices – Weekly Outlook: Feb. 4

Crude Oil Prices – Weekly Outlook: Feb. 4 post is one about this Finance, Forex class, posted just after our publisher Erick Emerson just after February 3, 2019, those article can search just after these hastag 4, Crude, Feb, Oil, outlook, prices, weekly. We all pleasant to blissful you and providing these others blogpost attributed finance also I am always posting the post routine.

© Reuters.

Investing.com – Oil traders will continue to monitor global crude supplies and the outlook for energy demand in the week ahead.

Futures rallied around 3% on Friday on signs that U.S. sanctions on have helped tighten supply, while upbeat strengthened expectations for higher fuel demand.

Data showing a weekly fall in the U.S. rig count also contributed to gains. Drillers cut 15 oil rigs in the week to Feb. 1, bringing the total count down to 847, the lowest since May 2018, according to energy services firm Baker Hughes.

It was the fourth time in the past five weeks that U.S. energy firms had reduced the rig count, implying a potential slowdown in domestic production activity.

U.S. ended Friday’s session up $1.47, or 2.7%, at $55.26 a barrel on the New York Mercantile Exchange. WTI earlier rose to its best level since Nov. 21 at $55.66.

For the week, the U.S. benchmark rose about 2.9%, its fourth weekly gain in the past five weeks.

Meanwhile, international on the ICE (NYSE:) Futures Europe exchange rallied $1.91, or around 3.2%, to settle at $62.75 a barrel. It rose 1.8% for the week.

After ending 2018 in freefall, oil prices have gained roughly 15% since the start of the year.

Overall, the recent advance for the energy complex has been powered by evidence of a decline in global output.

Saudi Arabia-led OPEC and its non-member allies led by Russia agreed to collectively cut production by a total of 1.2 million barrels per day (bpd) during the first six months of 2019 in an effort to stave off a global glut in supplies.

Venezuela is likely to stay in the headlines in the coming week, after the U.S. Treasury Department imposed sanctions on Venezuelan state-owned oil firm PDVSA, keeping tankers stuck at ports.

Fresh data on U.S. commercial crude inventories and production activity will also capture the market’s attention this week.

, Investing.com has compiled a list of the main events likely to affect the oil market.

Tuesday, Feb. 5

The is to publish its weekly update on U.S. oil supplies.

Wednesday, Feb. 6

The will release its weekly report on oil stockpiles.

Friday, Feb. 8

will release weekly data on the U.S. oil rig count.

— Reuters contributed to this report

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

You might want to leaf through other chapter finance with our related post or you can review on top of well-liked paper, I'm always writting this finance article frequenlty for clue along with suggest also ability that one may maintain our finance as well living that financial freedom. The blogpost is posted upon Erick Emerson with those title Crude Oil Prices – Weekly Outlook: Feb. 4.

Related posts of "Crude Oil Prices – Weekly Outlook: Feb. 4"

Maybe the Worst Is Over for Manitowoc

Manitowoc Co. (MTW) is a maker of cranes and other heavy machinery. A caller asked about it during the Lightning Round of Mad Money on Monday night. Our own Jim Cramer said, "It's so cheap it drives me crazy, but I'm not backing away from it down here." Let's check out the charts and indicators...

BP Has Long Been One of My Favorite Oil Stocks

Wow !! I keep wanting to say British Petroleum. The name of the firm is now BP PLC (BP) . Used to be BP Amoco PLC. Before that, it was British Petroleum. I'm also the guy that still thinks Chrysler when the letter C runs past on the ticker. I think we'll just call it...

Smith & Nephew profit falls on restructuring costs

Smith & Nephew PLC (SN.LN) said Thursday that pretax profit fell 11% in 2018 after booking restructuring costs, and despite revenue increasing. The company said profit before tax fell to $781 million from $879 million in 2017, as revenue rose 2.9% to $4.9 billion. It attributed the decrease in profit to costs related to its...

Amazon to Buy Home ‘Mesh’ Wi-Fi Maker Eero

Amazon.com Inc. (AMZN) reached an agreement to acquire Eero, a maker of "mesh" Wi-Fi systems for the home. "We are incredibly impressed with the Eero team and how quickly they invented a Wi-Fi solution that makes connected devices just work," said Dave Limp, vice president of Amazon Devices and Services. "We have a shared vision...

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.