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 -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 …
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 …
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 …
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, …
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 …
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 – 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 – 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 …
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 …
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 …
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.…
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 …
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 …
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 …
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 …
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 …
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 …
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%, …
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 …
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, …
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 …
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 …
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 …
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 …
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
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 …
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 …
