An Iranian oil tanker has sunk after burning for more than a week following a collision on Jan. 6 in the East China Sea, Chinese state media said on Sunday, adding that a large amount of oil was burning in the surrounding waters. 3:59pm GMT …

Russian and Saudi energy ministers satisfied with oil market rebalancing – statement. Russian Energy Minister Alexander Novak met his Saudi counterpart Khalid al-Falih in Oman on Saturday, where they both expressed satisfaction with the way oil market has been rebalancing, the Russian energy ministry said.

RPT-COLUMN-Hedge funds OPEC will tighten oil market too much: Kemp. Hedge funds are the most bullish about oil prices in years, expecting further gains even as prices touch multi-year highs and ignoring the risk linked to such a large concentration of positions. Jan 02 2018 …

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6 days ago – Oil prices dropped off three-year highs on Tuesday as traders booked profits but healthy demand underpinned prices near $70 per barrel, a level not seen since the market slump in 2014. … U.S. West Texas Intermediate (WTI) crude futures CLc1 ended at $63.73 a barrel, down 57 cents, or 0.9 percent.

Jan 9, 2018 – Oil prices retreated from big gains on Thursday, but still managed to settle at three-year highs after the global Brent benchmark hit $70 a barrel on signs of tightening supply … Brent may not be able to sustain a $70 level unless additional news from the Middle East bolstered bullish sentiment,ysts said.