Crude benchmarks suffer as oversupply concerns continue to weigh on trading sentiment.
Uptick in Libyan production and rising number of US rigs spooks oil futures market.
Brent, WTI contracts lost further ground as US rig count rose and traders were unconvinced by producers' cuts.
Brent, WTI futures jump as market prices in fresh output cuts by major oil exporters.
Uptick in yellow metal's price and cryptocurrency's rise have started daft comparisons.
Many money managers were withdrawing bets on higher oil prices before Saudi-Russian announcement reignited interest.
Several Opec ministers and Russia came out in favour of extending production cuts beyond June.
As US inventories decline, oil ministers of Iraq and Algeria claim there's agreement within Opec.
Soundbites in favour of extending oil production cuts having little impact in the face of rising US output.
Saudi Arabia's Opec governor claims major oil producers were converging on the need to extend production cuts.
Tug of market direction between higher US oil production and Opec output cuts is in full play.
Brent and WTI register steep declines as market continues to give more weight to rising US shale production.
Rising crude production stateside continues to drag down crude prices despite producers' soundbites in favour of extending cuts.
Quotes from key producers over possible output cuts fail to fire traders' imagination.
Market chatter on fresh Saudi-Russia pact stems oil price decline as threat from rising US shale production rises.
Rise in supply of Chinese steel made from cheaper iron ore and global oversupply have triggered a heavy drop in ore prices.
As the greenback slid on the president's comments, safe-haven investors extended gold trades.
Geopolitical risk remained the primary driver of major commodities contracts with gold leading the way.
Bearish data from US failed to halt gains in oil market as traders speculate over extension of Opec cuts.
Libyan production rebound puts pressure on crude futures riding high on the back of Opec output cut chatter.