Post Tagged with: "Brent crude"

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.

Source: Reuters

Oil holds near $30, caught between demand loss and supply cuts

Reuters


LONDON – Oil prices edged higher on Wednesday, reversing earlier losses, and Brent held near $30 a barrel as potential OPEC+ plans to deepen supply cuts were tempered by demand concerns exacerbated by a possible second wave of coronavirus …

Source: Reuters

Column: Oil traders see market starting road to recovery: Kemp

Reuters


LONDON – Crude oil traders expect the market to be closer to balance in the next few months as production cuts are implemented and the global transport system emerges from a coronavirus lockdown.

Futures prices and swaps linked to …

Source: CNBC

Oil drops 2%, snapping five-day winning streak in volatile trading session

CNBC


Oil prices dropped on Wednesday, snapping a five-session winning streak, as oversupply concerns outweighed optimism over economies reopening.

West Texas Intermediate, the U.S. benchmark, shed 2.3%, or 57 cents, to settle at $23.99 per barrel. In a volatile …

Source: CNBC

Oil heads for another weekly gain on demand hopes and shut-ins

CNBC


Oil prices rose on Friday and were on course for a second consecutive week of gains as more countries moved ahead with plans to relax economic and social lockdowns put in place to halt the coronavirus pandemic and as …

Source: CNBC

Oil prices rise, on pace for more than 30% gain this week

CNBC


Oil jumped more on Thursday and was on track for its second best week in history as a number of bullish factors supported prices, including U.S. companies cutting production, Saudi Arabia raising its official oil selling price and gasoline …

Source: Reuters

Funds buy WTI in bet worst is over for oil: Kemp

Reuters


LONDON – Hedge funds and other money managers bought petroleum derivatives last week in the cautious hope the industry may have passed the worst point of the coronavirus-induced lockdowns.

Money managers purchased the equivalent of 41 million barrels in …

Source: Reuters

Goldman Sachs says it remains bullish on oil prices in 2021

Reuters


Lower crude production due to reduced activity and OPEC+ cuts, coupled with a partial recovery in oil demand, should drive prices higher next year, Goldman Sachs Equity Research said in a note.

The Wall Street bank raised its 2021 …

Source: Reuters

Oil firms as OPEC+ begins record cuts; set for weekly rise

Reuters


NEW YORK – U.S. oil prices were 4% higher while the front month Brent crude futures rose above $26 per barrel on Friday, with both benchmarks on track for their first weekly gain in four weeks as OPEC and …

May 1, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: CNBC

Oil and gas companies set to lose $1 trillion in revenues this year

CNBC


Oil and gas exploration and production companies, or E&Ps, are slated to lose a staggering $1 trillion in revenues in 2020, according to analysis by research firm Rystad Energy.

The E&P industry, which includes oil majors, made $2.47 …

Source: Reuters

Oil prices set to cap off nightmare month with gains

Reuters


LONDON – Oil prices jumped for a second day on Thursday, lifted by signs the U.S. crude glut is not growing as quickly as expected and clawing back ground at the end of a month of tumbles wrought by …

Source: CNBC

Oil falls back into the red in volatile session

CNBC


Oil alternated between gains and losses in a volatile trading session that at one point saw U.S. crude drop more than 20%. Traders continue to eye dwindling storage capacity worldwide, although some of the losses were offset by optimist …

Source: CNBC

Oil rallies more than 50% in two days in comeback from record lows

CNBC


Oil jumped more than 30% on Thursday, accelerating the recent rally as the Street eyed continued production cuts and rising U.S.-Iranian tensions.

West Texas Intermediate, the U.S. benchmark, rose 30%, or $4.18, to trade at $17.96 per barrel. …

Source: CNBC

Oil rises after OPEC and allies agree to historic production cut

CNBC


Oil prices moved higher on Monday after OPEC and its allies agreed to cut production by 9.7 million barrels per day. The deal, which was finalized on Sunday after marathon discussions that spanned four days, is the single largest …

Source: CNBC

Brent crude could still drop to $10 a barrel and stay there in Q2: IHS Markit

CNBC


Oil prices on Thursday rallied more than 20% following reports of a possible deal to cut production by an enormous 10 million barrels per day, but one analyst is still predicting that Brent crude will sink to $10 a …

Source: Reuters

Benchmark Brent’s record $10 discount gives oil market reality check

Reuters


LONDON – U.S. President Donald Trump’s confidence he can get a deal to limit a global oil glut has driven world crude futures higher.

But he cannot talk up the underlying physical market that shows the full extent of …

Source: Reuters

Oil rises $1 as OPEC, allies work on big output cut

Reuters


LONDON – Brent oil prices rose on Wednesday on expectations that major producers have moved closer to an agreement to enact deeper output cuts aimed at offsetting the slump in demand caused by the coronavirus outbreak.

Brent crude LCOc1 …

March 4, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Oil inches up on U.S. crude inventories, coronavirus limits gains

Reuters


NEW YORK – Oil prices edged up on Wednesday after U.S. crude in storage grew less than expected and gasoline inventories dropped, but hundreds of new coronavirus cases reported in Asia, Europe and oil-producing countries in the Middle East …

February 26, 2020 - 12:00 pm Closing Bell Story‎, Crude Oil News, Energy News, International
Source: CNBC

Oil prices rise as US crude stocks build less than expected

CNBC


Oil prices rose on Thursday after the U.S. government reported a much smaller-than-anticipated rise in crude stocks, but gains were capped by worries about the spread of Coronavirus outside China.

Data from the U.S. Energy Information Administration (EIA) showed …

Source: Reuters

Oil up on slowing pace of coronavirus, Venezuela sanctions

Reuters


LONDON – Benchmark Brent oil prices rose for a seventh consecutive day after demand worries eased with a slowing of new coronavirus cases in China and supply was curtailed by a U.S. move to cut more Venezuelan crude from …

Source: CNBC

OPEC’s waning influence laid bare as coronavirus outbreak hammers oil prices, analysts say

CNBC


OPEC’s battle to support oil prices as China’s coronavirus spreads internationally shows the producer group is struggling to wield the same influence over global crude markets, energy analysts have told CNBC.

It comes amid speculation that OPEC and non-OPEC

Source: CNBC

Oil rises 1%, snapping 5-day losing streak

CNBC


Oil futures rose 1% Tuesday after a five-day losing streak as OPEC sources said the group and its allies might tighten the market amid fears that the coronavirus, which has claimed over 100 lives in China, could weigh on

Source: Reuters

Oil prices fall as alarm over Iran rocket strike fades

Reuters


LONDON – Brent oil futures fell on Wednesday from a four-month peak hit in frenzied early trading after a rocket attack by Iran on American forces in Iraq appeared to have no impact on oil infrastructure or crude flows.…

January 8, 2020 - 9:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil falls 1% as investors reassess Mideast risks

Reuters


NEW YORK – Oil prices fell about 1% on Tuesday, surrendering some of the gains of recent days as investors reconsidered the likelihood of immediate supply disruptions in the Middle East after the United States killed a top Iranian …

Source: Houston Chronicle

Oil above $61 amid Middle East tensions, shrinking stockpiles

Houston Chronicle


Oil settled above $61 a barrel after posting its biggest annual gain in three years amid elevated tensions in the Middle East and signs that U.S. crude stockpiles fell further.

Futures in New York rose Thursday but are …