Oil prices rose by almost 1 percent on Tuesday, lifted by a weak dollar, tensions in the Middle East and concerns of a further fall in Venezuelan output. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $62.59 a barrel at 0656 GMT, up 53 cents, or 0.9 percent, from their previous close. Source: Reuters
Khalid al-Falih told reporters that Saudi Aramco’s customer crude oil nominations would fall by 500,000 bpd in December versus November due to seasonal lower demand. The cut represents a reduction in global oil supply of about 0.5 percent. Source: Reuters
Iran sold 700,000 barrels of crude oil to private companies for export on Sunday in a second round of sales aimed at countering U.S. sanctions on the country’s exports, oil ministry news website SHANA reported. Source: Reuters
China has recently overtaken Japan to become the world’s biggest importer of natural gas and will likely keep that crown as pipeline and liquefied natural gas (LNG) infrastructure grow. Source: Oil Price
