“The problem is as prices climb higher, US shale producers will pump more. The top for West Texas is probably about $55 a barrel.”  Photograph: iStock

Oil is riding its longest winning streak since December on optimism Saudi Arabia will support an extension to Opec-led output cuts just as US stockpil(...)

Crude has retreated since  a 2016 high last month near $52 a barrel amid scepticism about the ability of Opec to implement a deal. Photograph: iStock

Crude held losses near $45 a barrel after US stockpiles rose and as Opec meets with Russia for informal talks without oil ministers from Iran and Iraq(...)

Oil has fluctuated since August’s rally on speculation the Organisation of Petroleum Exporting Countries (Opec) and Russia will agree on ways to stabilise the market when they meet later this month. Photograph: iStock

Oil extended gains after weekly government data showed US inventories dropped to the lowest since February, trimming stockpiles at the highest seasona(...)

Oil prices on both sides of the Atlantic have risen today, with the US benchmark climbing to a 14-month high near $105 per barrel. Photograph:  Oleg Nikishin/Getty Images.

Oil prices on both sides of the Atlantic have risen today, with the US benchmark climbing to a 14-month high near $105 per barrel, buoyed by a bigger(...)

Brent futures fell below $106 per barrel today as key forecasters trimmed their outlook for global oil demand growth. Photo: Reuters

Brent futures edged further below $106 per barrel today as key forecasters trimmed their outlook for global oil demand growth, while an invento(...)

Worries the standoff between the West and Iran will escalate have kept Brent above $100 a barrel through most of 2012 and this year, despite weak demand. REUTERS/Shannon Stapleton

Brent crude held above $107 (€82.94) a barrel this morning, but was still on track for a second straight week of losses, as Cyprus scrambled to(...)