Oil prices held steady on the final day of the year on Tuesday, heading for their biggest annual rise since 2016, supported by a thaw in the prolonged US-China trade dispute and supply cuts.

Oil prices steady, on track for biggest yearly rise since 2016

Oil prices traded at three-month highs on Monday, underpinned by optimism over an expected US-China trade deal, while traders kept a close eye on the Middle East following a US airstrike.

Oil edges up on trade optimism, eyes on Middle East tensions

Oil prices rose on Wednesday, with US crude gaining 1.3% after an industry report showed stockpiles in the United States, the world's biggest oil user, fell more than expected, easing worries about economic growth due to the China-US trade war.

Oil rises after inventory build eases recession worries

Oil prices steadied on Monday as tensions over Iran's nuclear program were tempered by global economic growth concerns and consequently oil demand. Brent crude futures were down 1 cent by 1122 GMT at $64.

Oil steadies as demand concern counters Middle East tensions

Oil prices fell more than 1% on Monday, extending losses of over 3% from Friday when crude markets slipped to their biggest monthly losses in six months amid stalling demand and as trade wars fanned fears of a global economic slowdown.

Oil prices extend drops as trade wars fan fears in financial markets

Oil prices were mixed on Tuesday as supply cuts, led by producer club OPEC, and US sanctions on fuel exports from Iran and Venezuela supported crude, while concerns about an economic slowdown weighed on the market.

Oil mixed as OPEC cuts, US sanctions prop up prices while trade war weighs

Oil prices fell on Monday, extending the Friday decline that halted a weeks-long rally after President Donald Trump demanded that producer club OPEC raise output to soften the impact of US sanctions against Iran.

Oil falls after Trump presses OPEC to offset Iran sanctions

Oil prices were mixed on Thursday, with Brent edging higher towards the psychologically important $70 level after easing in the previous session on data showing a surprise build in US inventories.

Oil prices edge lower after US inventories build

Asian shares rose to fresh seven-month highs on Wednesday as global investors took heart from signs of progress in US-China trade talks and brisk economic data, while oil approached the key $70 per barrel mark.

Asian shares near seven-month highs, investors pause for breath

Oil prices fell by around 1 per cent on Monday as drilling activity in the United States, the world's largest oil producer, picked up and financial markets were pulled down by trade concerns.

Oil prices fall as US rig count rise, trade concerns

Oil prices slipped on Thursday after US crude inventories rose and the country's production held at record levels, but OPEC-led supply cuts and Washington's sanctions against Venezuela supported markets.

International oil prices dip as US crude inventories rise

Oil rose on Thursday, shaking off persistent concern about the outlook for demand after the US government said it could impose sanctions on OPEC member Venezuela's crude exports.

Oil rises after US threat of sanctions on Venezuela crude

Oil prices were mixed in thin trading on Wednesday as the US benchmark rebounded from steep losses in the previous session, even though concern over the health of the global economy continued to overshadow the market in the longer term.

US  oil prices rebound after tumbling to lowest since June 2017 on economy fears

Oil prices rose by more than one per cent on Monday after top exporter Saudi Arabia announced a December supply cut, a measure likely aimed at halting a market slump that has seen crude decline by 20 per cent since early October.

Oil prices rise by more than 1 per cent after Saudis announce December supply cut

Major oil producers meet in Abu Dhabi on Sunday to consider reverting to output cuts after a sharp slide in crude prices revived fears of a 2014-style crash. Oil prices shed a fifth of their value in just one month after surging to a four-year high in early October, driven by a combination of factors centred on higher supply and fears of sluggish demand.

Major oil producers to consider cuts after price slide

Wednesday's dips were a result of the gradual return of the 450,000 bpd capacity Forties pipeline system in the North Sea.

Oil prices slip away from 2015 highs, but market remains tight