US Oil Prices Edge Up on Tightening Global Supply

mcx crude oil live chart with indicators

On Tuesday US oil prices inched, buoyed by expectations of tightening global supply amid U.S. sanctions on Venezuela and production cuts led by OPEC. U.S. West Texas Intermediate (WTI) crude futures were at $54.73 per barrel at 0020 GMT, up 16 cents from their last settlement. They closed down 1.3% on Monday, after earlier touching their highest since Nov. 21 at $55.75 a barrel.

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US Crude Oil Prices Rise Above $50 on Trade Talk Hopes

mcx crude oil live chart with indicators

On Wednesday US crude oil prices rose above $50 per barrel for the first time in 2019 on hopes that Washington and Beijing can resolve a trade dispute that has triggered a global economic slowdown. US West Texas Intermediate (WTI) crude oil futures were at $50.14 per barrel as at 0021, up 36 cents, or 0.7 per cent from their last settlement.

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Oil Prices Rise, But Set For First Annual Decline Since 2015

live crude oil price in dollar

On Monday oil prices edged higher on the last trading day of the year, taking a cue from firmer stock markets, but remain on track for the first yearly decline in three years amid concerns of a supply glut. Hints of progress on a possible US-China trade deal helped bolster sentiment, which has been battered by concerns over a weaker global economic outlook.

Read moreOil Prices Rise, But Set For First Annual Decline Since 2015