Post Tagged with: "lockdowns"

Source: Reuters

Oil prices steady as lockdowns curb U.S. stimulus optimism

Reuters


LONDON  – Oil prices were steady on Monday as support from U.S. stimulus plans and jitters about supplies competed with worries about the impact on demand from renewed coronavirus lockdowns.

Brent crude futures for March fell 8 cents, or …

January 25, 2021 - 9:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil prices extend rally on U.S. election day

Reuters


LONDON – Oil prices extended their rally on U.S. election day with a 3% gain as financial markets staged a broad recovery, though gains were capped by concerns over surging coronavirus cases around the world.

Brent crude futures rose …

Source: Reuters

Funds sell oil on fears of virus-driven economic double dip: Kemp

Reuters


(John Kemp is a Reuters market analyst. The views expressed are his own)

LONDON – Hedge funds sold petroleum last week as the rising number of coronavirus cases in the United States and Europe fuelled fears of a double-dip …

Source: Reuters

Oil drops as lockdowns widen and U.S. election looms

Reuters


LONDON – Oil prices fell‮‮ ‬‬on Monday on worries that widening coronavirus lockdowns in Europe would weaken fuel demand while concerns remain over potential turbulence resulting from this week’s U.S. presidential election.

Brent crude LCOc1 was down 13 cents, …

Oil slides over 2% as new lockdowns threaten demand recovery

Oil slides over 2% as new lockdowns threaten demand recovery

Reuters


NEW YORK – Oil prices slipped over 2% on Thursday as new restrictions to stem a surge in COVID-19 infections increased uncertainty over the outlook for economic growth and a recovery in fuel demand.

Brent futures LCOc1 fell $1.00, …

Source: Reuters

Column: Oil prices no longer especially cheap after strong rally – Kemp

Reuters


LONDON  – Oil prices are no longer particularly cheap by historical standards.

Perceptions about prices tend to be over-influenced by recent experience so current prices feel very low to producers used to receiving $60-80 per barrel over the 2018/19 …

Source: Reuters

OPEC sees gradual oil demand recovery, makes 84% of cuts in May

Reuters


LONDON – OPEC forecast on Wednesday a gradual recovery in global demand for oil, which has been hammered by the coronavirus crisis, and said record supply cuts by producers were already helping to rebalance the market.

In a monthly …

Source: CNBC

Bank of America pledges $1 billion to assist economic and racial inequality intensified by pandemic

CNBC


Bank of America announced Tuesday that it will commit $1 billion over four years to help local communities grapple with the widened economic and racial inequality caused by the Covid-19 outbreak.

The bank said in a press release that …

June 2, 2020 - 12:00 pm Closing Bell Story‎, Corporate Governance, Finance
Source: Reuters

Column: Global diesel use likely to be depressed all year – Kemp

Reuters


LONDON  – Consumption of diesel and other middle distillate fuels is likely to be depressed for many months, as stay-at-home orders are lifted but the lingering effects of the epidemic and lockdowns reduce business activity.

Lockdowns are easing in …

Source: Reuters

Oil moves mixed on easing lockdowns, looming storage shortage

Reuters


LONDON – Oil prices were mixed on Tuesday as optimism about the easing of coronavirus-related restrictions reassured markets, although traders remained cautious with storage capacities filling up fast and supply cuts not deep enough to counter falling demand.

Brent …