(Investing) – NEW YORK -Oil prices edged up for a third straight day on Tuesday as sanctions raised concerns about Russian and Iranian oil supplies, outweighing worries that escalating trade tariffs would boost prices and inflation and dampen global economic growth. Brent futures rose 86 cents, or 1.1%, to $76.73 a barrel by 11:06 a.m. EST (1606 GMT), while U.S. West Texas
Yahoo Finance LONDON – Brent oil futures prices ticked higher on Friday and were on course for their best week in more than four months after projections for solid crude oil and fuel demand in 2024. Brent crude futures were up 53 cents at $83.28 a barrel at 1356 GMT. West Texas Intermediate (WTI) U.S. crude futures were up 41
Reuters The Canadian dollar strengthened against its U.S. counterpart on Tuesday, with the currency clawing back some of its decline from the prior day as oil prices rose and domestic data showed factory activity expanding at the slowest pace in five months. The price of oil, one of Canada’s major exports, rose as OPEC+ producers agreed to stick with their
World Oil (Bloomberg) –Oil climbed, erasing an earlier loss, as a landmark plan from consumers to tap their strategic oil reserves was less severe than markets expected. Futures in New York wiped out losses to trade above $77 a barrel after Tuesday’s statement from the White House. While the headline size of the U.S. release is large, a significant chunk
Reuters LONDON – Prolonged disruption to oil production in the Gulf of Mexico and multiplying signs of a worldwide energy shortage have not been enough to encourage significant new petroleum buying from portfolio investors. Hedge funds and other money managers purchased the equivalent of just 12 million barrels in the six most important petroleum futures and options contracts in the
World Oil SINGAPORE (Bloomberg) –Oil gained after a U.S. industry report showed another decline in inventories of crude and gasoline, signaling a tightening market. Global benchmark Brent rose above $74, while West Texas Intermediate advanced for a fourth day. The industry-funded American Petroleum Institute reported Tuesday that nationwide crude stockpiles fell 5.44 million barrels last week, according to people familiar
World Oil SINGAPORE (Bloomberg) –Oil climbed above $70 a barrel in New York after three weeks of gains as investors tracked the slow restoration of supplies in the Gulf of Mexico and the outlook for demand and inventories over the fourth quarter. West Texas Intermediate added 1%, while the global Brent benchmark neared the top of its recent trading range.
CNBC Oil prices rose more than 4% Wednesday, extending gains from the previous session as improved risk appetite provided support despite data showing an unexpected rise in U.S. oil inventories. Brent crude futures gained $2.73, or 4%, to $72.08 a barrel. U.S. West Texas Intermediate (WTI) crude futures rose $2.93, or 4.4%, to $70.14 a barrel. Futures are rebounding after dropping around
Reuters LONDON – Oil prices rose on Tuesday, supported by growing confidence that producers are following through on commitments to cut supplies and as fuel demand picks up as coronavirus lockdowns ease. Brent crude LCOc1 futures were up 0.8%, or 30 cents, at $35.83 a barrel by 1411 GMT. U.S. West Texas Intermediate (WTI) crude futures CLc1 gained 2.2%, or
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 limited gains. Brent crude was rose 12 cents to $55.07 a barrel by 10:48 a.m. EST (1548 GMT), while U.S.
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