Tag: West Texas Intermediate

• Tuesday, April 21st 2020 - 10:16 UTC

  US oil price on Monday turned negative for the first time in history

  

  The price of US oil has turned negative for the first time in history. That means oil producers are paying buyers to take the commodity off their hands over fears that storage capacity could run out in May.

• Thursday, May 16th 2019 - 08:24 UTC

  Oil prices edge up on the Iran situation, but inventories are still very high

  

  Oil prices edged up on Thursday to extend gains into a third straight session, as tensions in the Middle East stoked fears of potential disruptions to supply. Brent crude futures were at US$72.04 a barrel at 0110 GMT, up 27 cents, or 0.4per cent, from their last close. Brent closed up 0.7per cent on Wednesday.