Page 9 - Us Oil Prices
US oil boom delivers costly surprise; traders counting hefty losses
Trading desks of oil major BP and merchants Vitol, Gunvor and Trafigura have recorded losses in the tens of millions of dollars each
 "US oil boom delivers costly surprise; traders counting hefty losses")
US crude hits 3.5-year high on supply concern due to Iran sanctions
The United States this week demanded countries halt imports of Iranian oil from November, a hardline position the Trump administration hopes will cut off funding to Tehran
 "US crude hits 3.5-year high on supply concern due to Iran sanctions")
Trump accuses Opec of 'artificially' boosting oil prices; cartel hits back
Several members of the OPEC responded to Trump's tweet, saying prices were not artificially inflated
 "Trump accuses Opec of 'artificially' boosting oil prices; cartel hits back")
US oil prices hits highest since 2014, worries grow of overheated market
Last November, Opec along with Russia and a group of other producers extended an output-cutting deal to cover all of 2018
 "US oil prices hits highest since 2014, worries grow of overheated market")
As output falls to 9.75 mbpd, US WTI crude jumps back above $60 per barrel
US output is still up by almost 16% since mid-2016
US oil dips on increased drilling, but Opec cuts support global markets
The deal to cut output expires in March 2018, but Opec will meet on November 30 to discuss its policy, with most analysts expecting some form of agreement to extend the cuts
 "US oil dips on increased drilling, but Opec cuts support global markets")
US crude tops 2-yr high as Keystone outage hits supply
US West Texas Intermediate crude futures hit $58.92 a barrel, their highest since July 2015
 "US crude tops 2-yr high as Keystone outage hits supply")
US oil prices near two-year high on pipeline shutdown, falling inventories
WTI has been buoyed by the shutdown of the 590,000 bpd Keystone pipeline, one of the largest crude pipelines from Canada to the United States