Oil eases on hope for diplomacy in Iran stand-off

(Reuters) - Oil prices dipped on Tuesday as the market was soothed by the potential for a diplomatic solution to a stand-off between OPEC producer Iran and Britain.

U.S. light crude for May delivery fell 22 cents to $65.72 a barrel by 0348 GMT, after rising 7 cents on Monday. London Brent crude lost 9 cents to $68.65, trimming 64-cent gains on Monday, when it hit a seven-month high of


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Oil holds below $63 after hitting 2007 high

(Reuters) - Oil held below $63 on Tuesday after hitting a 2007 high the previous day on the widening political dispute between Iran and the West and concerns over supply in the United States due to refinery glitches.

U.S. light, sweet crude for May delivery was trading down 11 cents at $62.80 a barrel by 0408 GMT, while Brent crude shed 8 cents to $64.33.


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Oil rises towards $58, heads for weekly gain

Oil rose towards $58 a barrel on Friday, boosted this week by colder weather and declining distillate supplies in the United States, the world's top oil consumer.

Also supporting prices, oil unions in Nigeria, the world's eighth-largest exporter, considered whether to call a strike and the latest deal by OPEC oil exporters to lower supplies took effect on Thursday.

U.S. crude rose 31 cents to $57.61 a barrel by 0947 GMT. London Brent crude moved 37 cents higher at $57.09.

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Oil edges down, near $58 after US fuel stock fall

Oil prices held close to $58 a barrel on Thursday, underpinned by fund buying as a cold snap in the United States stoked heating fuel demand and further OPEC production cuts looked set to trim supplies.

U.S. light crude for March delivery dipped 29 cents to $57.85 a barrel by 0445 GMT, after Wednesday's $1.17 jump that took gains for the week to over 4 percent. London Brent crude slipped 24 cents to $57.16 a barrel.

Prices have rebounded strongly from a 20-month low of $49.90 seen a fortnight ago as cold weather -- albeit late in the northern winter season -- helped to draw down U.S. distillate fuel stocks for the first time in nearly two months.

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Oil pauses at $54 after OPEC export rise weighs

Oil steadied at $54 a barrel on Tuesday as traders balanced an expected rise in U.S. crude inventories and signs of OPEC producers lifting March output with forecasts for lower distillate fuel stocks after a cold snap.

The market held its ground after a slide of over $1 on Monday, when Saudi Arabia's ambassador to the United States said OPEC's largest producer was satisfied with U.S. crude near $50 and as other commodities were also hit by an investor sell-off.

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Oil steady below $55, weighs mixed weather outlook

Oil prices stood below $55 on Friday after a 2 percent fall the previous day, as traders pondered the length of the current cold snap in the United States that has helped lift prices by some $2.50 this week.

U.S. light crude for March delivery was up 25 cents at $54.48 a barrel by 0748 GMT, after a $1.14 slide on Thursday, on concerns that the recent frosty weather in the U.S. would not last long enough to bring distillates inventories down. The drop came after a $2.79 gain over the past two days.

Prices earlier reached $55.90 on Thursday, the highest level since $56.20 touched on January 9.

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Oil holds at $55

Oil held over $55 a barrel on Thursday, as technical buying and plans to increase emergency US stockpiles offset builds in crude and distillate fuel inventories in the world's top consumer.

US light crude for March delivery was down 23 cents at $55.14 a barrel by 04:17 GMT, having gained 33c on Wednesday. London Brent crude was down 8c to $55.35.

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