Post Tagged with: "Brent crude"

Source: Reuters

Oil prices rise by $2 ahead of OPEC+ meeting

Reuters


LONDON, Nov 4 – Oil prices rose more than $2 on Thursday, lifted by expectations that OPEC and its allies will stick to slow output increases despite calls from the United States and large importers for additional supply to …

Source: Reuters

Falling crude inventories pin WTI oil price near $83

World Oil


(Bloomberg) –Oil swung between gains and losses as traders weigh the ongoing impact of a global energy crunch and dwindling inventories at a key U.S. storage hub.

Front-month futures in New York traded below $83, paring an earlier …

Source: Reuters

Brent’s ‘scarcity premium’ widens to most since 2013 in oil rally

Reuters


LONDON – The structure of Brent crude oil futures is showing a “scarcity premium” that has widened to the most since 2013 this week, a sign of the tight market underpinning oil’s rally amid a wider energy crunch as …

Source: Reuters

Oil prices rise on falling U.S. crude inventories

World Oil


(Bloomberg) –Oil rallied after a U.S. industry report showed another big draw in crude inventories, pointing to a tightening market, and China’s central bank added liquidity to quell concern about a major developer’s debt woes.

West Texas Intermediate …

Source: Reuters

Oil rallies on tight supplies in aftermath of U.S. storm

Reuters


LONDON – Oil prices rose on Tuesday as tighter U.S. supplies helped to reverse days of losses triggered by concerns across global markets about the impact on China’s economy of a crisis at heavily-indebted property group China Evergrande.

Brent …

September 21, 2021 - 11:00 am Closing Bell Story‎, Commodity Pricing, Crude Oil News, Energy News
Source: Reuters

Oil steady as U.S. jobs report disappoints

Reuters


LONDON -Oil prices were steady on Friday after a U.S. jobs report indicated a patchy recovery amid the pandemic but the demand picture remained bright globally and the aftermath of a U.S. hurricane also checked losses.

Brent crude futures …

Source: Reuters

Oil rises as market shrugs off virus impact

Reuters


LONDON – Oil prices rose on Tuesday, recouping some of their losses in the previous session, as rising demand in Europe and the United States outweighed concerns over an increase in COVID cases in Asian countries.

Brent crude was …

FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016.  REUTERS/Nick Oxford

Oil prices rises, on track for weekly gain

Reuters


LONDON -Oil prices rose on Friday and were on track to post weekly gains, with demand growing faster than supply, while vaccinations are expected to alleviate the impact of a resurgence in COVID-19 infections across the globe.

Brent crude

Source: CNBC

$100 oil? Analysts share their price forecasts after a strong rally in the first half of 2021

CNBC


Oil prices surged more than 45% in the first six months of 2021, rallying toward $80 a barrel for the first time in more than two and a half years.

Analysts on Wall Street believe there is potential for

Source: Reuters

Oil surges as traders await OPEC+ decision on easing production cuts

Market Watch


Oil futures jumped Thursday, with the U.S. benchmark topping $75 a barrel for the first time since October 2018, as traders await a decision by the Organization of the Petroleum Exporting Countries and its allies on further easing …

Source: Reuters

Column: Rising oil price will draw response from consumers

Todayonline


LONDON – Oil prices have risen above the long-term average, once adjusted for inflation, and are likely to encounter increasing resistance from consumers if they continue to climb.

Front-month Brent futures are trading around $75 per barrel compared with …

Source: Reuters

Oil may hit $100 but volatility will also grow, say energy CEOs

Reuters


LONDON – Benchmark oil prices could hit $100 a barrel and price volatility could also grow due to lower investments and the energy transition, the heads of top energy companies said on Tuesday.

“There is quite a chance to …

Source: Reuters

Oil prices up over $1 amid potential Iran talks hitch

Reuters


LONDON -Oil prices rose on Monday as a potential snag emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, while Goldman Sachs (NYSE:GS) said the case for higher prices remained intact even …

Oil prices steady on hopes for economic recovery

Oil prices steady on hopes for economic recovery

Reuters


LONDON – Oil prices held firm on Monday, trading in a tight range as European economic reopenings offset gloom from surging coronavirus cases in Asia, fresh restrictions and underwhelming Chinese manufacturing data.

Oil prices steady on hopes for economic recovery- oil and gas 360

Brent crude rose 14 cents, or 0.2%, …

Source: Reuters

Oil prices jump but India coronavirus cases weigh

Reuters


LONDON – Oil prices rose on Friday, reversing some of the previous day’s sharp losses as stock markets strengthened and the U.S. dollar slipped, though gains were capped by the coronavirus situation in major oil consumer India.

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 …