Crude oil futures traded lower on Friday morning after the US eased some sanctions on the oil industry in Venezuela.

WTI holds steady as Middle East tensions and a sharp API draw support crude oil prices, lifting the oil outlook while traders watch key trend and inventory analysis.

Refined product futures were also climbing. The February ULSD contract was 1.18cts higher at $2.658/gal and the March contract was up 2.23cts to $2.4329/gal. The February RBOB contract was 1.03cts higher at $1.8755/gal and March RBOB was up 0.65ct to $1.8891/gal.

Oil price moves aren't random, and sharp reversals and stalls are often driven by options positioning and mechanical hedging flows, not news or fundamentals.

WTI crude oil futures drop sharply as Trump’s Iran comments ease geopolitical risks. Technical analysis points to key support tests at $60.66-$59.29.

Crude oil futures decline amid weak global cues and oversupply worries. February delivery slips on MCX. WTI and Brent Crude also fall.

Petroleum futures were trading higher near midday Monday on what appears to be "risk-on" day as U.S. equities and precious metals were posting sharp gains in the wake of the U.S. attack against Venezuela. Oil futures, which settled lower in each of the ...

1509 ET – Oil futures open the year with a modest decline as the continuing Ukraine-Russia war and rising Middle East tensions counter concerns about oversupply. “Despite all these geopolitical concerns, the oil market seems unmoved,” Phil Flynn of ...

President Donald Trump sent a fresh warning to Iran’s leaders with diplomatic talks between Washington and Tehran were set for later this week. Tyler Kendall reports on Bloomberg Television.

Petroleum futures were heading into midday down on light volumes Friday, with contracts trading just marginally above the daily lows established this morning. February RBOB and ULSD along with March Brent have taken over the front-month position.