The oil market continues to surprise, with WTI apparently firmly above $60, a level that could be equated with the pre-pandemic norm (as norm as any oil price can be, which admittedly isn’t very). Considering the global economy remains …
LONDON – Hedge funds resuming buying petroleum last week, with a focus on Brent, as confidence steadied following the wave of selling and sharp drop in prices a month ago.
Hedge funds and other money managers purchased the equivalent …
LONDON – Oil prices edged higher on Monday as the U.S. dollar weakened, although concerns about the impact on demand from rising coronavirus cases in India and other countries capped gains.
Brent crude was up 32 cents, or 0.5%, …
Oil held near $67 a barrel on Friday and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major …
Crude prices appear to have found a temporary equilibrium in recent weeks, with OPEC+ planning to add just enough extra production to prevent prices rising further and draw in more output from U.S. shale firms.
Brent’s six-month calendar spread …
LONDON – Global oil prices could drop to around $40 a barrel by 2030 if governments push to reduce fuel consumption in step with U.N.-backed plans to limit global warming, a leading energy consultancy said on Thursday.
In a …
LONDON -Oil prices eased on Thursday but remained close to a one-month high that was driven by more positive demand forecasts from the International Energy Agency (IEA) and OPEC as economies start to recover from the COVID-19 pandemic.
Brent …
NEW YORK – Oil prices surged more than 4% on Wednesday, after a report from the International Energy Agency, followed by U.S. inventory data boosted optimism about returning demand for crude.
Brent crude futures rose $2.70, or 4.2%, to …
NEW YORK – Oil prices rose nearly 2% on Monday on optimism over the pace of coronavirus vaccinations in the United States and after the Yemen-based Houthi movement said it fired missiles on Saudi oil sites.
Crude prices have …
LONDON -Trafigura has begun launching a carbon trading desk led by Hannah Hauman, the global commodities trading firm said on Friday, as part of its push to gain a foothold in the global energy transition.
The Geneva-based firm set …
LONDON -Oil prices edged lower on Friday on rising supplies from major producers and concerns over a mixed picture on the COVID-19 pandemic’s impact on fuel demand.
Brent crude futures for June fell 32 cents, or 0.32%, to $62.88
LONDON -Crude oil prices fell on Thursday after official data showed a big increase in U.S. gasoline stocks on the back of higher refinery runs while demand remained subdued compared with pre-pandemic levels.
Brent crude fell 15 cents, or …
LONDON -Oil fell on Monday as a container ship that has blocked the Suez Canal for nearly a week was refloated and traffic in the waterway resumed, while fuel demand in Europe remained weak amid renewed lockdowns to curb …
Dislodging a container ship blocking the Suez Canal, one the world’s busiest trade routes, may delay delivery to Europe of around 1 million tonnes of liquefied natural gas (LNG) on 10 vessels if the blockage lasts for two weeks, …
CAIRO – The Suez Canal stepped up efforts on Friday to free a giant stuck container ship and end a blockage that has sent shipping rates for fuel tankers soaring and disrupted global supply chains for everything from grains …
LONDON/LOS ANGELES – The suspension of traffic through the Suez Canal has deepened problems for shipping lines that were already facing disruption and delays in supplying retail goods to consumers, shipping sources said.
Container shipping companies, carrying retail goods
LONDON – With oil prices making steady gains earlier this year, OPEC and other producers had hoped to ease output cuts, but industry sources say a fresh wave of lockdowns around the world threatens to tear up those plans.…
LONDON – Oil rose more than 2% on Wednesday after a ship ran aground in the Suez Canal raising supply concerns, although fears of a slow recovery in demand due to European lockdowns limited gains.
The giant container ship …
LONDON/WASHINGTON – When oil prices surged during Donald Trump’s term in the White House, OPEC and its allies had to brace for a Twitter storm demanding action to bring prices down.
That has all changed under U.S. President Joe …
LONDON -Oil prices fell more than 4% on Tuesday, hit by concerns over new pandemic curbs and slow vaccine rollouts in Europe as well as a stronger dollar.
Brent crude futures were down by $2.69, or 4.2%, to $61.93 …
NEW YORK – Updated: Oil rose more than 2% in volatile trading on Friday after a sell-off earlier in the week erased about 7% from prices as a new wave of coronavirus infections across Europe dampened expectations of any …
LONDON – Oil prices sunk for a fifth day running on Thursday on a stronger dollar, a further increase in U.S. crude and fuel inventories and the weight of the ever-present COVID-19 pandemic.
Brent crude was down $2.33, or …
LONDON- Gasoline demand may never recover to pre-pandemic levels, the International Energy Agency (IEA) said on Wednesday, with increased use in developing countries offset by rising fuel efficiency and a switch to electric vehicles in wealthy nations.
In last …
LONDON – The booming market in green finance faces a test this year as more investors balk at lofty share price tags even on loss-making companies and a gradual economic recovery from the pandemic boosts returns on conventional energy …
LONDON – Trading in oil futures is now as heavy as it was in the first months of the COVID-19 crisis, according to market data and analysts, with oil bulls and bears rushing to hedge against jolts in the …
LONDON/NEW YORK/SINGAPORE – With oil prices surging as producers curb supply, fuel prices in many countries have hit multi-year and even all-time highs despite the pandemic knocking demand by millions of barrels per day.
The high prices at the …
LONDON – Oil slipped for a fourth day on Wednesday as concerns about weaker demand in Europe outweighed an industry report that showed U.S. crude inventories fell unexpectedly last week.
Several European countries have paused the use of AstraZeneca’s …
LONDON/NEW YORK – U.S. refiners are scaling back on hiring ships for longer periods to save on costs in another sign of uncertainty over when global oil demand will return to pre-COVID levels, shipping and trade sources say.
The
NEW YORK – Oil prices fell for a third day on Tuesday, as moves by Germany, France and other European states suspended the use of a major coronavirus vaccine, which threatens the recovery of fuel demand.
Brent was down …
LONDON – Hedge funds were small buyers of petroleum in the most recent week, reversing small sales in the two previous weeks, as the outlook for prices becomes more uncertain after a strong four-month rally.
Hedge funds and other …
