Post Tagged with: "Brent crude"

Source: Reuters

Oil falls on rising stocks, worries of new virus wave

Reuters


LONDON  – Oil prices fell on Wednesday, as record high inventories and worries about a second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies.

Brent crude was down 66 cents, or 1.5%, to …

Source: Reuters

Column: Oil prices transitioning to next phase of cycle – Kemp

Reuters


LONDON  – Brent futures prices have risen by more than 80% over the last two months, the fastest increase at any point for more than a quarter of a century, as the market has rebounded from its worst crisis …

June 23, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil up after Trump assurance on China trade deal

Reuters


LONDON  – Oil prices rose on Tuesday in a volatile session after U.S. President Donald Trump soothed jangled nerves over the status of the U.S.-China trade deal.

Markets were unsettled by surprise comments from White House trade adviser Peter …

Source: Reuters

BofA sees oil demand recovering, hikes crude forecasts

Reuters


Bank of America (BofA) Global Research has lifted its oil price forecast for this year and next as demand recovers from coronavirus-linked shutdowns, the OPEC+ output cut deal curtails supply, and producers slash capital expenditure.

The bank now sees …

Source: Reuters

Column: Oil prices no longer especially cheap after strong rally – Kemp

Reuters


LONDON  – Oil prices are no longer particularly cheap by historical standards.

Perceptions about prices tend to be over-influenced by recent experience so current prices feel very low to producers used to receiving $60-80 per barrel over the 2018/19 …

Source: Reuters

Oil tops $42 as OPEC+ laggards pledge better compliance

Reuters


LONDON – Brent oil rose to above $42 a barrel on Friday, adding to gains in the previous session, after OPEC producers and allies promised to meet supply cuts and on signs of demand, hit by the coronavirus crisis, …

Source: Reuters

Oil prices broadly stable after mixed U.S. data

Reuters


LONDON – Oil prices were broadly stable on Thursday after dipping in and out of positive territory as bulls took their cue from shrinking U.S. oil product stocks and bears looked at rising crude stocks and new coronavirus cases.…

Source: CNBC

IEA sees largest drop of oil demand in history this year, before biggest-ever one-year jump in 2021

CNBC


The International Energy Agency said on Tuesday that it expects the fall in oil demand this year to be the largest in history, but believes there are signs the market could reach “a more stable footing” over the coming …

Source: Reuters

Oil prices set for worst daily drop since April on inventories, bearish Fed

Reuters


LONDON – Oil prices slumped on Thursday, dragged down by another record build-up in U.S. crude inventories and the U.S. Federal Reserve’s projections that the world’s biggest economy would shrink 6.5% this year.

Brent crude LCOc1 futures erased Wednesday’s …

Source: CNBC

Goldman Sachs says an oil price correction as deep as 20% ‘may already be underway’

CNBC


Goldman Sachs sees a correction in oil prices on the horizon even amid a significant recovery in the last month and the recent decision by OPEC and its allies to extend historically large production cuts through July.

“With oil …

Source: Reuters

Oil dips on oversupply concerns and stronger dollar

Reuters


LONDON  – Oil prices fell on Tuesday, weighed down by a stronger dollar and oversupply concerns after it was announced that a trio of Gulf producers would end voluntary output cuts.

Brent crude was down 52 cents, or 1.3%, …

Source: CNBC

Brent crude will need to work through oversupply issues despite the OPEC+ output cut, says analyst

CNBC


Brent crude needs to work through its oversupply issues before it can punch through its current price range of between $40 and $50 per barrel, according to Thom Payne, director at Westwood Global Energy Group.

That’s despite the latest …

Source: CNBC

Oil jumps 5% as traders await OPEC+ meeting on extending supply cuts

CNBC

Oil prices rose on Friday after OPEC decided to move up discussions on whether to extend record production cuts to Saturday, indicating that some laggard countries may have agreed to align themselves with the deal.

Source: CNBC

Brent crude 

Source: CNBC

Oil falls below $40 on doubts early OPEC+ meeting will go ahead this week

CNBC


Oil prices erased gains on Wednesday, with Brent crude futures falling back below $40 a barrel, on doubts an early meeting of some of the world’s most powerful oil producers will go ahead as planned.

OPEC and non-OPEC allies,

Source: Reuters

Oil falls from $40 on doubts over early OPEC meeting

Reuters


LONDON – Oil fell after touching its highest since March at more than $40 a barrel on Wednesday, pressured by doubts that an early meeting of OPEC and its allies to extend existing output cuts will take place.

Saudi …

Source: Reuters

Exclusive: China snaps up Russia’s expensive Urals oil in thirst for sour barrels

Reuters


MOSCOW  – China’s refiners have purchased a quarter of Russia’s Urals oil exports planned for June in the Baltic despite record high premiums for the grade due to a lack of sour barrels as result of the OPEC+ output …

Source: CNBC

Oil jumps nearly 90% in May to $35, registering best month on record

CNBC


Oil jumped more than 5% on Friday, the last trading day of the month, capping off its best month in history as an uptick in demand as well as record supply cuts pushed prices higher. West Texas Intermediate,

Source: Reuters

Oil analysts see prices edging up but still capped below $40/bbl: Reuters poll

Reuters


Oil prices will gradually gain this year with demand improving and supply falling, although tensions between the United States and China are hanging over the coronavirus-hit market, a Reuters poll showed on Friday.

The survey of 43 analysts forecast …

Source: Reuters

Oil falls but remains set for biggest monthly gain in years

Reuters


LONDON – Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea and a worsening in U.S.-China relations, but were still on track for a …

Oil prices steady, awaiting confirmation of surprise U.S. inventory build

Oil prices steady, awaiting confirmation of surprise U.S. inventory build

Reuters


LONDON – Oil futures steadied on Thursday as the market awaited confirmation of industry data that showed a surprise increase in U.S. crude stocks, which offset hopes for a demand recovery as coronavirus lockdowns ease.

After tumbling on Wednesday, …

Source: Reuters

Oil prices climb as faith in supply cuts grows

Reuters


LONDON – Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up as coronavirus lockdowns ease.

Brent crude LCOc1 futures were up 0.8%, or …

Source: CNBC

Oil at highest since March on lower U.S. inventories, recovering demand

CNBC


Oil prices rose on Thursday to their highest since March, supported by lower U.S. crude inventories, OPEC-led supply cuts and recovering demand as governments ease restrictions on people’s movements imposed due to the coronavirus crisis.

Crude prices have slumped …

Source; Reuters

Oil up on lower U.S. stocks, firmer demand

Reuters


LONDON – Oil prices firmed on Wednesday on signs of improving demand and a drawdown in U.S. crude inventories, but worries over the economic fallout from the coronavirus pandemic and weak refining margins capped gains.

Brent crude futures LCoc1 …

Source: Reuters

Oil steady on signs of output cuts but demand concerns weigh

Reuters


LONDON – Oil prices were steady on Tuesday amid signs that producers are cutting output as promised while traders awaited more clarity on the demand picture as some countries ease out of lockdowns.

Benchmark Brent crude was up 4 …

May 19, 2020 - 9:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: CNBC

Oil outlook vastly different than when it plunged into negative territory a month ago

CNBC


The fortunes of the oil market have turned around dramatically in the past month.

This time last month, investors were watching the futures market in disbelief. The May contract for West Texas Intermediate oil was set to expire, and …

Source: CNBC

Oil jumps 12% to $33 as June futures contract nears expiration

CNBC


West Texas Intermediate for June delivery jumped more than 12% on Monday to a two-month high, one day ahead of the contract’s expiration, as production cuts and the easing of stay-at-home restrictions supported prices.

“Producers are significantly throttling back …

Source: Reuters

Brent at one-month high, U.S. oil tops $32 as lockdowns ease

Reuters


LONDON  – Oil prices jumped on Monday, with benchmark Brent hitting a one-month high and U.S. crude topping $30, supported by optimism about the reopening of economies and output cuts by major producers.

Brent crude LCOc1 was up $2.32, …

Source: Reuters

Barclays raises oil price outlook as falling output offsets demand hit

Reuters


Barclays Commodities Research on Friday raised its oil price forecasts for this year and 2021, buoyed by supply cuts to balance the demand erosion caused by conrovirus-led restrictions.

In recent days, several OPEC nations including Saudi Arabia said they …

Source: Reuters

Oil back at early April highs as demand shows signs of picking up

Reuters


LONDON  – Oil prices touched a one and a half month high on Friday amid signs demand for crude was picking up, with China reporting increased refinery runs and rounding out a week of bullish news on the supply …

Source: CNBC

A resurgence of coronavirus cases will have ‘major consequences’ for the oil market, IEA warns

CNBC


The International Energy Agency (IEA) said on Thursday that market forces had “demonstrated their power” on the supply side of the oil market in recent weeks, but concerns remain over the potential for a second wave of Covid-19 infections.