Post Tagged with: "Brent crude"

Source: Reuters

Oil prices rise 2% on fuel demand optimism

Reuters


NEW YORK -Oil prices rose 2% on Wednesday, after U.S. distillate inventories posted a large drawdown and refining activity picked up, boosting hopes for rising fuel demand.

The market remained concerned, however, about India’s surging coronavirus cases.

Brent crude …

Source: Forbes

Oil prices may have peaked for now

Forbes


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 …

Source: Reuters

Oil inches up despite coronavirus-related demand concerns

Reuters


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%, …

Source: Reuters

Oil holds near $67, heads for weekly gain on demand hopes

Reuters


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 …

Source: Reuters

Column: Oil prices find new equilibrium: Kemp

Reuters


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 …

Source: Reuters

Oil near one-month highs as demand outlook improves

Reuters


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 …

Source: Reuters

Oil climbs over 4% on signs of increasing crude demand

Reuters


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 …

Source: Reuters

OPEC raises 2021 oil demand growth forecast on hope pandemic wanes

Reuters


LONDON -OPEC on Tuesday raised its forecast for growth in world oil demand this year on expectations the pandemic will subside, providing help for the group and its allies in their efforts to support the market.

Demand will rise …

April 13, 2021 - 10:38 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Column: Fund managers sell petroleum as pandemic lingers

Reuters


LONDON – Hedge funds have cut their position in petroleum for the second time in three weeks in response to a resurgence of coronavirus infections and the likely postponement of a resumption to airlines’ international passenger flights.

Money managers …

April 12, 2021 - 2:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: Reuters

Oil falls on OPEC+ concerns over slow demand recovery

Reuters


LONDON -Oil prices fell on Wednesday on concerns about the market’s recovery after OPEC and its allies lowered their 2021 demand growth forecast, although strong Chinese factory activities lent some support.

Brent crude for May, which expires on Wednesday, …

March 31, 2021 - 10:00 am Uncategorized
Goldman sees oil price pullback as buying opportunity

Goldman sees oil price pullback as buying opportunity

Reuters


Goldman Sachs sees the oil price pullback as a buying opportunity and forecasts Brent crude reaching $80 per barrel this summer even as the recent rally in prices “takes a big breather.”

Oil prices are set to drop about …

Source: Reuters

Oil falls over 3% as dollar rises and vaccine rollout stalls

Reuters


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 …

Source: Reuters

Oil slips further on Europe demand concerns

Reuters


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 …

Oil slips to $68 as rally fizzles out before U.S. supply report

Oil slips to $68 as rally fizzles out before U.S. supply report

Reuters


LONDON – Oil fell to around $68 a barrel on Tuesday in a choppy session, as easing concern of a supply disruption in Saudi Arabia and U.S. dollar strength countered the prospects for tighter supply due to OPEC+ output …

March 9, 2021 - 9:40 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Column: Hedge fund positioning shifts in expectation of oil price peak

Reuters


LONDON – Hedge funds sold petroleum for the second week running as crude prices topped $65 a barrel, the highest level since before the COVID-19 pandemic.

The equivalent of 11 million barrels in petroleum futures and options were sold …

Source: Reuters

Brent cracks $70 for first time since pandemic began after Saudi facilities attacked

Reuters


SINGAPORE  – Brent crude futures jumped above $70 a barrel on Monday for the first time since the COVID-19 pandemic began, while U.S. crude touched its highest in more than two years, following reports of attacks on Saudi Arabian …

Source: Reuters

Oil surges $2 after OPEC+ extends output cuts

Reuters


LONDON – Oil prices jumped more than 3% on Friday, hitting their highest levels in over a year after OPEC and its allies agreed not to increase supply in April as they await a more substantial recovery in demand.…

March 5, 2021 - 9:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Oil rises on vaccine optimism, U.S. stimulus

Oil rises on vaccine optimism, U.S. stimulus

Reuters


LONDON – Oil prices rose on Monday, supported by optimism about COVID-19 vaccinations, a U.S. stimulus package and growing factory activity in Europe despite coronavirus restrictions.

Brent crude was up 34 cents, or 0.5%, at $64.76 a barrel by …

Source: Reuters

Oil rises despite surprise U.S. stock build weighs

Reuters


LONDON  – Oil prices firmed on Wednesday amid continued outages in the United States and a weaker dollar, even though U.S. inventories last week rose unexpectedly.

Brent crude futures gained $1.19, or 1.8%, to $66.56 a barrel at 1511 …

Source Reuters

Real-time oil appetite catches up with futures rally

Reuters


LONDON/SINGAPORE/MOSCOW – Sales of physical crude oil are gaining pace at higher prices following a rally in the futures market, traders and analysts said, as expectations mount of near-term increases in demand.

Global benchmark Brent futures are trading above …

Source: CNBC

After oil hits 13-month high, energy analyst warns prices may be ‘too frothy’

CNBC


Oil climbed Friday, surpassing the high set earlier this week and notching a fresh 13-month peak.

West Texas Intermediate crude hit $59.74 a barrel on Friday, its highest level since January 2020, a promising sign as the industry …

Source: Reuters

Oil erases gains after hitting 13-month highs

Reuters


LONDON – Oil hit 13-month highs on Tuesday, supported by supply cuts, a weaker dollar and optimism over a recovery in fuel demand, but retraced some of its recent gains in early U.S. trading.

Brent crude futures for April …

Source: Reuters

Oil prices near 1-year highs after stocks drawdown, supply deficit forecast

Reuters


LONDON – Both benchmark oil contracts hovered near their highest levels in about a year on Wednesday, boosted by a drawdown in U.S. crude and gasoline stocks that added to demand recovery hopes fueled by OPEC+’s forecast of a …

Source: Reuters

Oil prices reach highest in nearly a year as producers restrain output

Reuters


LONDON  – Oil prices rose more than 2% on Tuesday, reaching its highest in nearly 12 months after major producers showed they were reining in output roughly in line with their commitments.

Brent crude was up $1.31, or 2.3%, …

Source: Reuters

Oil prices slide as virus cases rise, demand worries persist

Reuters


NEW YORK  – Oil prices eased on Tuesday as coronavirus cases globally continued to rise, but losses were capped amid reports of a blast in Saudi Arabia.

Brent crude was up 4 cents, or 0.1%, at $55.92 by 12:57 …

Source: Reuters

Oil gains on hopes for improving demand

Reuters


LONDON – Oil prices climbed on Tuesday as optimism that government stimulus will eventually lift global economic growth and oil demand trumped concerns that renewed COVID-19 lockdowns are cooling fuel consumption.

Brent crude futures for March rose 73 cents, …

Source: Reuters

Oil falls on renewed lockdowns, stronger dollar

Reuters


LONDON – Brent crude oil prices fell as much as $1 per barrel on Monday, hit by renewed concerns about global fuel demand amid tough coronavirus lockdowns around the world, as well as a stronger U.S. dollar.

Brent was …

Source: Reuters

Oil hits 11-month highs on Saudi cuts, shrugs off U.S. turmoil

Reuters


NEW YORK  -Oil prices settled higher on Thursday, hitting 11-month peaks, as markets remained focused on Saudi Arabia’s unexpected pledge to deepen its oil cuts and firmer equities, shrugging off political turmoil in the United States.

Brent crude settled …

January 8, 2021 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Oil outlook for 2021 hit by new COVID-19 strain: Reuters poll

Reuters


Oil prices are unlikely to mount much of a recovery in 2021 as a new coronavirus variant and related travel restrictions threaten already weakened fuel demand, a Reuters poll showed on Thursday.

The poll of 39 economists and analysts …

Source: Reuters

Oil drops as new coronavirus strain revives demand fears

Reuters


LONDON -Oil dropped towards $50 a barrel on Tuesday, adding to losses from the previous session, as a mutant variant of the coronavirus in Britain revived concerns over demand recovery.

Detection of the new variant prompted several countries to …