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An increase in Iranian crude oil production of around 600,000 barrels per day is likely in the latter half of next year, a U.S. federal report found.

The renewed drop in oil prices has sent energy stocks skidding, weighing on global market indexes, and unnerved investors. Puts give the holder the right, but not the obligation, to sell NYMEX crude futures at a predetermined strike price.

Spot prices of Western Canada Select (WCS), a marker for heavy, diluted bitumen from Alberta’s oil sands sank to a 12-year low near $20 a barrel. WTI may drop to $US32 on the persisting global surplus, Citigroup Inc. said in a report August 19.

At the RBI’s monetary policy review last earlier this month, Governor Raghuram Rajan said the fall in oil prices has been very beneficial for the country. In a future column, I’ll discuss the effects of the decline on the U.S. Federal Reserve’s timetable for...

October U.S. crude was down 87 cents or 2.1% at $40.44 per barrel having at one time touched a low of 6 ½ years at $39.86 per barrel during the day. At the same time the global benchmark Brent fell 2.5% down to $45.46 per barrel.

WTI crude has plummeted more than 31 per cent over the past eight weeks, second only to a 10-week losing streak between December 1985 and March 1986, which resulted in the US benchmark dropping 54.33 per cent to $12.28 a barrel.

US benchmark West Texas Intermediate (WTI) for September delivery dropped 17 cents to Dollars 42.06 in late-morning trade after falling below USD 42 a barrel earlier in the session, the lowest price since March 2009.

The U.S. benchmark hit 6-1/2 year lows near $40 a barrel on Wednesday and Brent crude for October delivery LCOc1 was down 29 cents at $46.33, after settling 54 cents lower in the previous session. Oil is down 34 percent from its high of $61.43 this year, and 62 percent from its...

Iran can boost output by 500,000 barrels a day within one week after sanctions are lifted, Oil Minister Bijan Namdar Zanganeh said earlier this month. In a June survey, the average year-end forecast of participants was that West Texas Intermediate crude would be at .80 per barrel.

Oil prices dived Wednesday as a government report showed that U.S. crude stockpiles of last week increased unexpectedly. The figure was 2.62 million barrels higher than it was the previous week, and disappointing to economists who had been expecting a decline of 820,000 barrels....

Light, sweet crude for September delivery dropped $1.27, or 3%, to $41.35 a barrel on the New York Mercantile Exchange.

US crude oil, also known as West Texas Intermediate or WTI, was down 45 cents at US$40.35 a barrel by 0910 GMT, after hitting a new 6-1/2-year low of US$40.23.

“While U.S. crude oil production this year is expected to be 100,000 barrels per day less than previously forecast, oil output is still on track to be the highest since 1972″, said Adam Sieminski, Administrator with the EIA.

Oil traders are bracing for a rapid build-up in inventories in the coming weeks, likely testing Cushing’s storage capacity limits, as refiners shut for spring maintenance; the rise may be swifter than expected due to the unexpected prolonged closure of the biggest crude...

West Texas intermediate for September delivery fell $1.07 cents, or 2.5%, to settle at $42.23 a barrel on the New York Mercantile Exchange. The US contract on Tuesday closed at the lowest level since March 2009.