Gulf Times - glut
Oil climbs as glut wanes, US crude closer to $70 a barrel

Oil climbs as glut wanes, US crude closer to $70 a barrel

Traders said speculators continue to bet on further upside, expecting potential supply disruptions and further drawdowns, driven by strong demand.

Oil prices slip as physical excess overpowers Opec

Oil prices slip as physical excess overpowers Opec

Oil slid back towards multi-month lows on Thursday, after a brief recovery early in the session, as traders warily eyed a glut of physical supply that has persisted despite Opec-led efforts to balance the market.

Oil near five-month lows despite Saudi assurances

Oil near five-month lows despite Saudi assurances

Oil prices fell to five-month lows on Friday on concerns about a persistent glut despite assurances from Saudi Arabia that Russia is ready to join Opec in extending supply cuts.

Oil near six-month high as outages support

Oil near six-month high as outages support

Oil traded at around $49 a barrel on Tuesday within sight of a six-month high, supported by supply outages in Nigeria, Canada and other producers that are eroding a persistent glut.

Oil prices slip off multi-month highs

Oil prices slip off multi-month highs

Oil prices fell on Thursday, after hitting three-month highs this week, with analysts warning that larger gains would be unwarranted as refineries enter seasonal maintenance and a global glut weighs.