Post Tagged with: "Brent crude"

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 …

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 …