Post Tagged with: "oil prices"

Source: Bloomberg

Oil markets may be even tighter than forecasters say

World Oil


LONDON (Bloomberg) –The oil market is getting tighter and there may be even less slack in the system than forecasts suggest.

 

The latest outlooks from the International Energy Agency and the U.S. Energy Information Administration show the …

Source: CNBC

Oil prices slip from 2014 highs, supply concerns limit losses

CNBC


Oil slipped on Thursday as investors took profits after a recent price rally, but strong demand and short-term supply disruptions continue to support prices close to their highest since 2014.

 

Brent crude futures were down 27 cents, or …

Source: Reuters

Oil prices above $100 are more a matter of when, not if

World Oil


SINGAPORE (Bloomberg) –Surging demand, fading omicron fears, and OPEC+’s inability to ramp up output have underpinned an eye-watering rally in oil prices.

Global benchmark Brent crude has jumped 25% to around $88 a barrel since the end of …

Source: Reuters

Column: Escalating oil prices will become politically sensitive: Kemp

Reuters


LONDON, Jan 19 – Oil prices have risen to their highest for more than seven years, climbing above levels that triggered a U.S.-led release of strategic petroleum reserves last November.

Policymakers may be less likely to respond at this …

Source: CNBC

Oil prices are at a 7-year high, but Exxon CEO Darren Woods is confident they will trend lower.

CNBC


Oil prices rose to a seven-year high Tuesday amid ongoing supply concerns and escalating tensions in the Middle East, but Exxon Mobil CEO Darren Woods is confident they will trend lower.

 

In the immediate future, however, the oil

Source: Reuters

OPEC targeting oil prices below $100, Oman’s oil minister says

World Oil


LONDON (Bloomberg) –OPEC and its allies don’t want crude prices to climb to $100 a barrel, and are reviving production quickly enough to prevent global markets from “overheating,” Oman’s oil minister said.

The Organization of Petroleum Exporting Countries …

Source: Reuters

Oil prices could hit $100 as demand outstrips supply, analysts say

Reuters


LONDON – Oil prices that rallied 50% in 2021 will power further ahead this year, analysts predict, saying a lack of production capacity and limited investment in the sector could lift crude above $100 a barrel.

Though the Omicron

Source: CNBC

‘Absolutely unprecedented’: Massive protests in Kazakhstan are making international shockwaves

CNBC


Over the span of just two days, what began as protests over spiking fuel prices have snowballed into the most serious unrest the Central Asian nation of Kazakhstan, a major energy producer and long a symbol of stability among …

Source: Reuters

Oil prices steady as Omicron caution lingers

Reuters


Oil prices were steady on Wednesday, with market players on the lookout for fuel demand pointers amid COVID-19 concerns after Singapore suspended quarantine-free travel and Australia renewed its vaccination push due to a surge in Omicron variant cases.

U.S. …

Source: World Oil

Oil prices edge higher as equities rebound

World Oil


(Bloomberg) –Oil eked out a gain, climbing in tandem with equities, as traders weighed the Federal Reserve’s shift to tighter monetary policy to battle inflation.

Futures in New York closed up 0.2%, reversing earlier losses of as much …

Source: Reuters

Oil prices on track for biggest weekly gain since August

Reuters


LONDON  -Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand.

The Brent and WTI benchmarks …

Source: Reuters

OPEC+ output hike gamble pays off as oil prices recover

Nasdaq


LONDON, Dec 9 – The gamble taken by OPEC and its allies, under pressure from top oil consumer the United States, to raise oil output in January despite its own forecasts of oversupply, appears to be paying off as …

Source: Reuters

Top U.S. shale producer worries oil prices could run too hot

Nasdaq


HOUSTON, Dec 7 – Scott Sheffield, the chief executive of top U.S. shale producer Pioneer Natural Resources Co PXD.N, on Tuesday said he worries oil prices could get too high and further roil markets after years underinvestment in …

Source: Reuters

Oil prices surge before critical OPEC meeting as volatility spikes

World Oil


SINGAPORE (Bloomberg) –Oil rebounded from another sharp drop as OPEC ministers prepared to meet amid booming volatility.

West Texas Intermediate rallied as much as 4.6% after shedding almost $4 on Tuesday. That selloff was driven by escalating concerns …

Source: World Oil

Omicron scare sends oil prices into worst monthly loss this year

World Oil


(Bloomberg) –Oil headed for the biggest monthly loss since the early days of the coronavirus pandemic as investors weighed risks posed by the new omicron variant.

West Texas Intermediate plunged 3.6% and Brent also tumbled, with the price …

Source: CNBC

Oil prices are headed for $100 despite U.S. efforts to release reserves, analyst says

CNBC


Oil prices could climb higher despite the U.S. and other major consumers releasing millions of barrels of oil from their reserves to try to keep energy prices down, one analyst told CNBC.

“It’s not going to work simply because

Source: CNBC

Oil prices fall 4% to six-week low on lockdown worries, but don’t expect much relief at the pump yet

CNBC


Oil prices fell to a six-week low on Friday as new Covid lockdowns sparked demand concerns just as industry players signal a return of supply.

 

But for consumers looking for some reprieve at the pump, the declines aren’t …

Source: Reuters

Biden’s National Economic Council can’t settle on a plan as energy prices spike

World Oil


(Bloomberg) –One hour after U.S. government data showed on Wednesday that American inflation had soared to a 31-year high, President Joe Biden vowed to fight the surge as “a top priority.”

Key to his administration’s response, Biden said …

Source: Reuters

Oil prices head for weekly fall after volatile week

Reuters


NEW YORK  -Oil prices fell on Friday, wiping out gains from the previous session, on worries that the U.S. Federal Reserve will accelerate plans to boost interest rates to tame inflation.

Brent crude futures fell 87 cents, or 1.1%, …

Source: Reuters

Column: Seasonal weakness could take some heat out of oil prices

Nasdaq


LONDON, Nov 11 – Oil prices are expected to stabilise near current levels over the next few months, then decline progressively over the course of next year, according to the latest forecasts from the U.S. Energy Information Administration.

The …

November 11, 2021 - 11:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Oil falls to $84 before U.S. inventories and OPEC+ meeting

Reuters


LONDON – Oil fell further below $85 a barrel on Tuesday, but it was still not far from a three-year high in choppy trade ahead of weekly U.S. supply reports expected to show a rise in crude inventories and …

Source: Reuters

OPEC rejects Biden’s call for more oil

World Oil


(Bloomberg) –OPEC+ headed for a clash with the U.S. as more members rejected President Joe Biden’s call for the group to raise oil production faster and help reduce gasoline prices.

On Monday, Kuwait said the cartel should stick …

Source: CNBC

Saudi Aramco posts 160% rise in third-quarter profit, chairman calls for ‘stable’ energy transition

CNBC


DUBAI, United Arab Emirates — Saudi Arabia’s oil giant Aramco has posted a 158% increase in third quarter net income to $30.4 billion, as the world’s largest oil companies continue to benefit from the reopening of the global economy

Source: Fox Business

Oil billionaire schools Biden on gas prices: ‘It’s all about economics 101’

Fox Business


Continental Resources Chairman and founder Harold Hamm criticized Biden’s energy plan as the administration’s efforts to tackle climate change conjures up more challenges for the country.

“You know it’s all about economics 101 and it doesn’t have to …

Source: Reuters

Wall Street projects a “higher for longer” era for oil prices

World Oil


(Bloomberg) –Could the era of cheap oil supply be gone for good? That’s the conclusion of some of the biggest commodities desks on Wall Street, where banks have been lifting their long-term price forecasts, often by $10 or …

Source: Reuters

Oil gains from highest close since 2014 as U.S. dollar falls

World Oil


(Bloomberg) –Oil continued its advance from the highest close in seven years as the U.S. dollar fell and investors assessed the energy crunch roiling global markets.

Futures in New York surpassed $83 a barrel Tuesday, gaining as much …

Source: Reuters

OPEC misses crude output targets, straining global oil supply

World Oil


(Bloomberg) –OPEC and its allies once again failed to pump enough oil to meet their output targets, exacerbating the supply deficit as the world recovers from the coronavirus pandemic.

OPEC+ cut its production 15% deeper than planned in …

Source: Reuters

Brent’s ‘scarcity premium’ widens to most since 2013 in oil rally

Reuters


LONDON – The structure of Brent crude oil futures is showing a “scarcity premium” that has widened to the most since 2013 this week, a sign of the tight market underpinning oil’s rally amid a wider energy crunch as …

Source: CNBC

Oil prices could hit an ‘off the charts spike,’ says strategist

CNBC


Oil prices could experience an “off the charts spike” as winter approaches and OPEC and its allies stick to their earlier pact on oil output, a strategist told CNBC.

OPEC+ — the Organization of the Petroleum Exporting Countries, with …