Post Tagged with: "Brent"

Source: Reuters

Oil falls back as Russia rejects Trump’s intervention in price war

Reuters


LONDON – Oil prices fell on Friday after rising 10% in the session as the coronavirus epidemic knocked the outlook for demand and Moscow rejected an intervention by U.S. President Donald Trump in Russia’s price war with Saudi Arabia.…

Source: Houston Chronicle

Oil rollercoaster has crude rebounding after 18-year low

Houston Chronicle


Oil rebounded after plunging to the lowest level in 18 years as policy makers across the globe try to strengthen economies against the impact of the coronavirus pandemic.

Futures rose as much as 18% in New York, the …

Source: Reuters

Oil jumps after three-day slump but virus and oversupply still weigh

Reuters


Oil prices bounced nearly 7% on Thursday after a three-day selloff drove them to their lowest in almost two decades as demand plummeted due to the coronavirus and supplies surged in a fight for market share between Russia and …

March 19, 2020 - 9:00 am Commodity Pricing, Crude Oil News, Economy, Energy News
Source: Reuters

Oil retreats in face of renewed coronavirus uncertainties

Reuters


LONDON – Oil prices fell on Friday as a rise in new cases of coronavirus and weak Asian data fuelled uncertainty about the economic outlook while leading crude producers appeared to be in no rush to curb output.

Brent …

February 21, 2020 - 10:00 am China, Closing Bell Story‎, Crude Oil News, Energy News
Source: Houston Chronicle

Oil snaps 5-day rally as virus continues to weigh on demand

Houston Chronicle


A five-day rally in oil prices ended as investors found new reasons to worry about how fuel demand will be affected by the impact of Asia’s deadly coronavirus.

Brent futures fell 1.8% to trade below $57 a barrel …

Source: Reuters

Oil prices climb on prospects for deeper OPEC+ output cuts

Reuters


NEW YORK – Oil prices edged higher on Thursday, as investors hoped the world’s biggest producers would cut output more, while they largely shrugged off forecasts of slumping demand due to the coronavirus outbreak in top oil importer China.…

February 13, 2020 - 12:00 pm China, Closing Bell Story‎, Crude Oil News, Energy News, International
Source: Reuters

Oil prices leap after reports on coronavirus drug

Reuters


LONDON – Oil prices jumped by more than 4% on Wednesday after media reports that scientists had developed a drug against the fast-spreading coronavirus that continues to weigh heavily on global economic activity.

The World Health Organization played down …

Source: Reuters

Oil rebounds on potential for further OPEC+ supply cuts

Reuters


LONDON  – Oil prices clawed back ground on Tuesday on hopes for additional production cuts from OPEC and its allies to offset any potential demand drop triggered by the coronavirus outbreak.

Brent crude was up 93 cents, or 1.7%, …

Source: Houston Chronicle

Oil heads for biggest monthly loss since May

Houston Chronicle


Oil headed for its biggest monthly drop since May as Asia’s coronavirus spread, stoking concerns that demand for transportation fuels will shrink.

Futures were little changed in New York on Friday, after sliding to a five-month low on …

Source: Reuters

Oil back in positive territory ahead of U.S.-China trade deal

Reuters


LONDON – Global oil benchmark Brent crude rose to more than $64.50, recovering from four days of declines on easing Middle East tensions, as the United States and China prepared to sign a preliminary trade deal.

Brent crude LCOc1 …

January 14, 2020 - 11:00 am Closing Bell Story‎, Commodity Pricing, Crude Oil News
Source: Reuters

Oil falls 1% as Mideast tensions ease, U.S. gasoline stocks weigh

Reuters


HOUSTON – Oil prices fell about 1% on Monday as Middle East tensions eased and investors turned their focus to lackluster seasonal demand following a bearish U.S. report last week showing a large gasoline stockbuild.

Brent crude LCOc1 was …

Source: CNBC

Oil prices will climb above $100 a barrel if Iran blocks the Strait of Hormuz, analysts predict

CNBC


Oil prices would skyrocket if Iran moved to completely cut off the Strait of Hormuz, energy analysts told CNBC on Wednesday.

Elevated geopolitical tensions have sparked fears of a widening conflict in the Middle East, with energy market participants …

Source: Reuters

Oil steady as trade hopes, Mideast tensions support, dollar weighs

Reuters


NEW YORK – Oil prices were flat on Thursday, supported by signs of improving Washington-Beijing trade relations and rising tensions in the Middle East but pressured by a strong U.S. dollar.

Brent crude futures LCOc1 were unchanged at $66.00 …

Source: Reuters

Oil prices gain 2% despite concerns about rising supplies

Reuters


NEW YORK  – Oil futures gained nearly 2% on Friday as comments from a top U.S. official raised optimism for a U.S.-China trade deal, but worries about increasing crude supplies capped prices.

Benchmark Brent crude rose $1.04, or 1.7%, …

Source: Houston Chronicle

Oil slips from 6-week high on signs U.S. supplies rose again

Source: Houston Chronicle


Oil retreated from a six-week high as signs of another increase in U.S. crude reaffirmed the prevailing view that global markets are comfortably supplied.

Futures lost as much as 0.8% in New York after rising 5.6% over …

Source: AP/Jae C. Hong,

Oil steady as weaker economy data eclipses U.S. stockpile drop

Source: Houston Chronicle


Oil traded near $56 a barrel in New York as weak economic data from Germany added to concerns over slowing global fuel demand, tempering the boost from a surprise pullback in U.S. crude stockpiles.

Futures recouped earlier …

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

Oil Futures Extend Gains on Larger-Than-Expected U.S. Crude Draw

From Reuters


Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal.

Brent crude LCOc1 settled …

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

Caught in Tariff War, Sinopec Seeks Waiver for Imported U.S. Oil: Sources

From Reuters


China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including …

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

Oil Falls 1% as U.S.-Iran Optimism Faces U.S.-China Trade Deal Hopes

From Reuters


Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal.…

Oil Spills Into U.S.-China Trade War, Prices Slump

Oil Spills Into U.S.-China Trade War, Prices Slump

From Reuters


China on Friday said it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global …

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

Trump Calls on U.S. Firms to Exit China as Trade War Escalates

From Reuters


President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession.

Trump, who has …

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

Oil Eases as Fed’s Jackson Hole Meeting Gets Underway

From Reuters


Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts.

Traders are awaiting a speech from Federal Reserve Chair Jerome Powell …

Cushing, Okla., is one of the United States oil facilities in the Keystone Pipeline System.

TransCanada’s 4,250-kilometre (2,640 mile) Keystone Pipeline System transports approximately 20 per cent of western Canadian crude oil exports to key refineries in the U.S. Midwest and Gulf Coast, where it is converted into fuel and other useful petroleum products.

U.S. Crude Stockpiles Fall, with Cushing Down for a Seventh Week – EIA

From Reuters


U.S. crude oil stockpiles fell more than expected last week with supplies at the Cushing, Oklahoma hub dropping for a seventh week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday.

Crude inventories fell …

Courtesy of Chesapeake

Oil Steadies as Hopes of Easing Trade Tensions Lend Support

From Reuters


Oil prices steadied on Tuesday on optimism U.S.-China trade tensions will ease and hopes major economies will take stimulus measures to ward off a possible economic slowdown, after falling earlier on concerns over future demand.

Brent crude LCOc1 …

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

Lotus Midstream Mulls Reversing West Texas to Cushing Pipeline – Sources

From Reuters


Pipeline operator Lotus Midstream LLC may reverse flows on a line now sending crude from West Texas to Cushing, Oklahoma, the main hub for pricing U.S. crude futures, three people familiar with the matter said on Tuesday, an …

August 20, 2019 - 6:01 am Closing Bell Story‎, Crude Oil News, Energy News, Midstream
Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

Trade War Impasse Casts a ‘Dark Cloud’ Over Outlook for US Oil Shipments, Analysts Warn

From CNBC


An escalating trade war between the world’s two largest economies is negatively impacting the outlook for U.S. crude shipments, energy analysts have warned, amid fears that China could soon dramatically reduce its intake of American oil.

Trade tensions …

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

Oil Rises 2% After Attack on Saudi Field, Stimulus Expectations

From Reuters


Oil prices gained roughly 2% on Monday after a weekend attack on a Saudi oil facility by Yemen’s Houthi forces threatened crude supplies and as traders looked for signs that top economies would take measures to counteract a …

Oil Deepens Slide on Recession Fears, China’s Trade Threats

Oil Deepens Slide on Recession Fears, China’s Trade Threats

From Reuters


Oil prices fell more than 1% on Thursday, extending the previous session’s 3% drop, pressured by mounting recession concerns and a surprise boost in U.S. crude inventories.

In a sign of investor concern that the world’s biggest economy …

Oil Drops 3% on Weak Global Economic Data, U.S. Crude Stocks Build

Oil Drops 3% on Weak Global Economic Data, U.S. Crude Stocks Build

From Reuters


Oil prices shed 3% on Wednesday after fresh Chinese and European economic data revived global demand fears and U.S. crude inventories rose unexpectedly for the second week in a row.

Brent crude LCOc1 settled at $59.48 a barrel, …

Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

Oil Soars Near 5% as U.S. Delays Tariffs on Some Chinese Goods

From Reuters


Oil prices on Tuesday jumped by the most so far this year after the United States said it would delay imposing a 10% tariff on certain Chinese products, easing concerns over a global trade war that has pummeled …