(Oil Price) – Morgan Stanley joined other major investment banks in slashing oil price forecasts amid expectations of a larger market surplus later this year as OPEC+ plans to raise output much more than previously expected. Morgan Stanley cut its oil price forecasts for the remainder of the year, anticipating a bigger glut. The bank revised down its projection of Brent Crude prices
(Investing) – Oil prices rose slightly Thursday, bouncing to a degree after the recent downturn as traders braced for higher US production and possible disruption to trade under the new Trump administration. At 08:20 ET (13:20 GMT), Brent oil futures expiring in March rose 0.1% to $79.07 a barrel, while West Texas Intermediate crude futures climbed 0.1% to $75.47 a barrel. Crude prices tumbled from a
Yahoo Finance U.S. crude oil prices last week climbed to their highest this year, but a weak natural gas market, steeper costs and a focus on shareholder returns over new production are keeping shale drillers from big output increases in the world’s top oil and gas producer. The global Brent oil benchmark last week was trading above $91 a barrel,
Oil Price Faster-than-expected land inventory drawdowns due to seaborne trade disruptions from the Red Sea crisis have prompted Goldman Sachs to revise up its forecast for summer peak Brent Crude prices to $87 per barrel, up by $2 from earlier expectations. “OECD commercial stocks on land have drawn somewhat faster than expected as the redirection of flows away from the
US News Benchmark Brent oil climbed above $100 a barrel on Wednesday after Saudi Arabia suggested this week that OPEC could consider cutting output in response to poor liquidity in the crude futures market and fears about a global economic downturn. Brent crude for October settlement traded up $1.07, or 1.1%, at $101.29 a barrel by 1158 GMT. U.S. crude
Nasdaq LONDON, Oct 26 – The scarcity premium embedded in the structure of Brent crude oil futures has widened to the most since 2013 this week, a sign of the tight market underpinning oil’s rally that pundits increasingly predict will push the market to $100 a barrel. The premium of the immediate Brent crude contract to the December 2022 price LCOc1-LCOc13 stood
CNBC International oil benchmark Brent crude jumped during early trading on Tuesday morning, topping $80 per barrel for the first time since October 2018 before reversing those gains and dipping into negative territory. The breather comes after five straight positive sessions for oil, with the rally supported by demand rebounding as supply remains tight. West Texas Intermediate crude futures, the U.S. oil
Reuters LONDON -Oil prices edged lower on Wednesday after a surprise gain in U.S. crude inventories and tighter coronavirus lockdowns in Europe but a weakening dollar and progress on the rollout of COVID-19 vaccines offered support. Brent crude futures were down 13 cents, or 0.26%, to $50.63 a barrel by 1421 GMT. U.S. West Texas Intermediate (WTI) crude futures fell
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