Post Tagged with: "Brent crude"

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 …

Source: Reuters

Oil dips as COVID-19 cases, lockdowns outweigh vaccination news

Reuters


NEW YORK -Oil prices edged lower on Tuesday, extending the previous session’s losses after the U.S. state of California tightened its pandemic lockdown through Christmas and COVID-19 cases surged in the United States and Europe.

Brent crude fell 3

December 8, 2020 - 10:35 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil prices inch down as OPEC and allies seek consensus on output

Reuters


LONDON – Oil prices inched down on Tuesday as investors awaited direction from OPEC and its allies after the producers postponed a formal meeting to decide whether to lift output from January.

Brent crude was down 19 cents at …

December 1, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil rises but IEA casts doubt on speedy demand recovery

Reuters


LONDON  – Oil prices rose on Thursday, taking this week’s gains to more than 12% on growing hopes that the world’s major producers will hold off from a planned supply increase, though the advance was kept in check by …

Source: Reuters

Goldman cuts 2021 Brent forecast as virus surge creates temporary headwind

Reuters


Goldman Sachs cut its 2021 Brent crude price forecast but said a surge in COVID-19 cases in Europe and the U.S. only represented a “speed bump” before a potential vaccine and continued supply cuts by top producers tightened market …

Source: Reuters

Oil prices at one-month low on demand worries

Reuters


LONDON – Oil prices extended losses on Thursday, falling to their lowest point since early August, as worries about weaker U.S. gasoline demand and a sluggish economic recovery from the COVID-19 pandemic dented sentiment.

Brent crude LCOc1 fell 55 …

Source: Reuters

Oil prices inch lower as demand forecasts reduced, supply rises

Reuters


NEW YORK  – Oil prices edged lower on Friday as investors feared demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories.

This week, two prominent …

Source: CNBC

Oil prices fall as rising coronavirus case numbers cast shadow over fuel demand pickup

CNBC


Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns just as major producers ramp up output.

U.S. West Texas

August 4, 2020 - 11:00 am Commodity Pricing, Crude Oil News, Energy News
Source: Reuters

Column: Hedge funds pull bullish bets on petroleum – Kemp

Reuters


LONDON – Hedge funds turned less bullish on petroleum at the end of July amid anticipated rises in OPEC+ production and growing concerns about the impact of resurgent coronavirus infections on the global economic outlook.

Money managers sold the …

August 3, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: CNBC

Oil prices bounce back from 3-week lows, but economic headwinds loom

CNBC


Oil prices rose on Friday, recovering further ground after touching three-week lows in the previous session, hit by a record decline in U.S. growth as the coronavirus ravaged the world’s biggest economy and oil consumer.

Brent crude was up …

Source: CNBC

Oil rises after surprise drop in U.S. inventories offsets demand concerns

CNBC


Oil prices rose on Wednesday after an industry report showed that crude inventories in the United States fell against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere.

Brent crude futures

Source: Reuters

Oil up on weak dollar though U.S.-China tensions, virus weigh

Reuters


SINGAPORE/LONDON  – Oil prices edged higher on Monday helped by a weak dollar and expected U.S. stimulus measures but gains were capped by rising global coronavirus cases and tensions between the United States and China.

Brent crude LCOc1 rose …

Source: Reuters

Oil eases as high U.S. oil stocks outweigh weak dollar

Reuters


LONDON  – Oil edged lower on Thursday as rising U.S. fuel inventories and concerns about surging coronavirus cases outweighed the impact of a weaker dollar, which usually boosts oil prices.

Brent crude LCOc1 fell 22 cents, or 0.5%, to …

Source: Reuters

Oil prices ease after OPEC+ agrees to ease output curbs

Reuters


LONDON – Oil prices fell on Thursday after OPEC and other producers including Russia agreed to ease record supply curbs from August, though the drop was cushioned by tightening global inventories as economic activity picks up.

Brent crude fell …

July 16, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Oil mixed on tighter supply, surge in U.S. virus cases

Oil mixed on tighter supply, surge in U.S. virus cases

Reuters


LONDON – Oil prices were mixed on Monday, with Brent crude edging higher on tighter supplies and positive economic data, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb fuel demand in …

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 …

Oil tops $42 as OPEC+ laggards pledge better compliance

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 …