(Investing) – Oil prices jumped almost 7% on Friday to multi-month highs after Israel launched strikes against Iran, sparking Iranian retaliation and raising worries about a disruption in Middle East oil supplies. Brent crude futures were up $4.57, or around 6.59%, to $73.93 a barrel at 1352 GMT, after hitting an intraday high of $78.50, the highest since January 27. U.S.
Oil Price The U.S. benchmark oil price rose on Monday evening and early on Tuesday to above $80 per barrel after China announced on Monday a major easing of its Covid travel quarantine rules and after Winter Storm Elliott knocked offline around 1.5 million bpd of refinery capacity in the U.S. Gulf Coast. As of early morning trade in
Yahoo Finance OPEC+ will consider cutting oil output by more than 1 million barrels a day, according to delegates, when it meets in person on Wednesday for the first time in more than two years. A larger-than-expected reduction would reflect the scale of the producer group’s concern that the global economy is slowing in the face of rapidly tightening monetary
US News NEW YORK -Oil prices soared more than $3 a barrel on Tuesday after Saudi Arabia floated the idea of OPEC+ output cuts to support prices and with the prospect of a drop in U.S. crude inventories. The Saudi energy minister said OPEC+ had the means to deal with challenges including cutting production, state news agency SPA said on
Reuters LONDON – Oil prices extended gains on Monday, boosted by mounting concerns over gas supply from Russia and a lower dollar, offsetting demand fears brought on by a possible recession and China lockdowns. Brent crude futures for September settlement rose by US$4.44, or 4.4per cent, to US$105.60 a barrel by 1427 GMT, having gained 2.1per cent on Friday. U.S.
Investing LONDON – Oil jumped almost 5% on Wednesday after plunging nearly 10% in the last two sessions, buoyed by supply concerns as flows of Russian gas to Europe fell and the European Union worked on gaining support for a Russian oil embargo. Russian gas flows to Europe via Ukraine fell by a quarter on Wednesday after Kyiv halted use
Reuters LONDON/SINGAPORE – Oil jumped over 3% on Monday toward US$108 a barrel as the release of strategic reserves by consuming nations failed to eliminate supply fears arising from Russia’s invasion of Ukraine and the lack of an Iranian nuclear deal. The invasion in February heightened supply concerns that were already underpinning prices. Sanctions imposed on Russia and buyers’ avoidance
Yahoo Finance LONDON – Oil prices rose in volatile trading on Wednesday, supported by disruption to Russian and Kazakh crude exports via the CPC pipeline. Brent crude futures were up $5.16, or 4.5%, at $120.64 a barrel at 1335 GMT. Prices had earlier fallen to a low of $114.45. U.S. West Texas Intermediate (WTI) crude futures rose $4.83, or 4.4%,
Reuters LONDON (March 4): Oil jumped 4% toward US$115 a barrel on Friday in a volatile session as fears over disruption to Russian exports in the face of Western sanctions outweigh the prospect of more Iranian supply in the event of a nuclear deal with Tehran. Russian forces in Ukraine seized Europe’s biggest nuclear power plant in what Washington called
CNBC Oil prices jumped on Monday as traders bet that Friday’s sharp sell-off, prompted by fears that the new omicron Covid variant will curb demand for petroleum products, was overdone. West Texas Intermediate crude futures, the U.S. oil benchmark, gained $3.31, or 5.3%, to trade at $71.48 per barrel at about 8:15 a.m. on Wall Street. The move puts the contract
Reuters LONDON -Oil prices jumped 3% on Monday, recovering from a seven-day losing streak, with gains driven by a weaker dollar despite demand concerns stoked by rising cases of the Delta coronavirus variant. Brent crude climbed $2.15, or 3.2%, to $67.33 a barrel by 1052 GMT after touching its lowest since May 21 at $64.60. U.S. West Texas Intermediate (WTI)
CNBC U.S. benchmark West Texas Intermediate crude futures broke above $50 on Tuesday for the first time since February, boosted by a surprise announcement by Saudi Arabia of a 1 million barrel per day production cut beginning in February and extending through March. The move higher marks a steady comeback for oil prices after the coronavirus pandemic and subsequent demand loss sent
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