Post Tagged with: "oil prices"

Source: Reuters

Oil prices set for another weekly gain despite falling back

Oil Price


Despite a sharp drop on Thursday, oil prices are set for another weekly gain as well as a monthly one driven by tight supply coupled with perhaps surprisingly resilient demand.

Bloomberg attributed the Thursday drop to technical resistance …

Source: CNBC

Oil prices rise as Russia fuel export ban stokes supply concerns

CNBC


Oil prices rose on Friday as renewed global supply concerns from Russia’s fuel export ban counteracted demand fears driven by macroeconomic headwinds and high interest rates. Brent futures were up 80 cents, or 0.86%, at $94.10 a barrel by …

Source: Reuters

Oil prices hit 10-month highs on mounting supply concerns

Investing


Oil prices jumped over 1% on Tuesday to 10-month highs, as weak U.S. shale output compounded supply concerns from extended production cuts by Saudi Arabia and Russia. Global benchmark Brent crude futures were up $1.13, or 1.2%, to $95.56 …

Oil price rally sees WTI top $90

Oil price rally sees WTI top $90

Oil Price


West Texas Intermediate (WTI) soared past $90 in Thursday morning trading, up over 30% in three months, driven by sustained OPEC+ production cuts and indications that a tighter market is coming. At 10:51 a.m. ET on Wednesday, WTI …

Source: Oil Price

IEA: OPEC+ production cuts to send oil prices and volatility surging

Oil Price


Oil prices are set for a surge in volatility amid an expected “significant supply shortfall” on the market in the fourth quarter of 2023, due to the Saudi-led cuts to OPEC+ oil supply, the International Energy Agency (IEA) …

Source: Reuters

Goldman Sachs: Large inventory draws limit downside risk to oil prices

Oil Price


Larger than previously expected oil inventory draws in developed economies could limit downside risks to oil prices and add $2 a barrel to Goldman Sachs’s end-year call for $86 per barrel Brent, the bank said in a note.…

Source: Reuters

Oil prices set for largest monthly gain since January 2022

Oil Price


Oil prices were poised early on Monday to end July trading with the biggest monthly gain since January 2022, buoyed by tightening supply, expectations of a record demand, slower inflation in the U.S., and a still resilient American …

Source: Reuters

Oil prices hit fresh 3-month highs on tightening supplies

Reuters


NEW YORK :Oil prices rose to fresh three-month highs on Tuesday, as signs of tighter supplies and pledges by Chinese authorities to shore up the world’s second-biggest economy lifted sentiment.

Brent futures gained 31 cents at US$83.05 a barrel …

Source: CNBC

Oil prices rise as tight supply counters expected rate hikes

CNBC


Oil prices rose on Monday as tightening supply and hopes for Chinese stimulus underpinned Brent at well above $80 a barrel, even as traders expected more rate hikes from U.S. and European central banks.

 

Brent crude futures were …

Source: CNBC

Oil prices gain more than 1% as investors eye U.S. crude supplies

CNBC


Oil prices rose on Tuesday as investors weighed a possible tightening of U.S. crude supplies against weaker-than-expected Chinese economic growth. Both benchmark contracts had fallen more than 1.5% on Monday following lackluster economic data from China, the world’s largest …

Source: CNBC

Oil prices drop on profit-taking, still headed for weekly gain

CNBC


Oil prices fell more than a dollar a barrel on Friday as the dollar strengthened and oil traders booked profits from a strong rally, with crude benchmarks on course for a third weekly gain. Brent crude futures fell $1.1, …

Source: CNBC

Oil prices edge up as supply cuts, weak dollar counter economic headwinds

CNBC


Oil prices edged higher on Tuesday supported by supply cuts by the world’s biggest oil exporters and hopes for higher demand in the developing world in the second half of 2023 despite a sluggish economic outlook.

Brent crude futures …

Source: Reuters

Oil prices remain steady as traders brace for tighter supply

Oil Price


Crude oil prices were little changed at the start of the week—and the second half of the year—as traders brace up for tighter supply. Saudi Arabia will this month reduce its oil output by 1 million barrels daily. …

Source: Reuters

POLL-Growth risks to restrain oil prices this year

Nasdaq


Oil prices will struggle for traction this year as global economic headwinds stymie gains that could be fuelled by a rebound in China and OPEC+ cuts, a Reuters poll showed on Friday. The survey of 37 economists and analysts …

Source: CNBC

Oil prices edge lower on interest rate hike worries

CNBC


Oil prices slipped on Tuesday on signals that the European Central Bank is not done with interest rate hikes, while investors awaited data that could shed light on U.S. fuel consumption during the peak summer driving season.

Brent crude …

Source: Oil Price

Oil prices flat ahead of Powell’s brief to Congress

Oil Price


Oil prices were flat early on Wednesday as Fed Chair Jerome Powell is set to brief Congress on the U.S. economy today and tomorrow. As of 7:57 a.m. ET on Wednesday, the U.S. benchmark, WTI Crude, was …

Source: Reuters

Oil prices broadly stable as all eyes on US debt talks

BOE Report


Oil prices were broadly stable on Thursday as traders warily watched for signs of progress on talks to raise the U.S. debt ceiling, after surging in the previous session on optimism over U.S. fuel demand.

U.S. West Texas …

Source: Oil Price

OPEC cut failed to lift oil prices, but the year isn’t over yet

Oil Price


Crude oil prices have been on a losing streak for four consecutive weeks now, erasing all the gains they booked after OPEC’s latest supply cut announcement as economic fears take precedence over demand expectations.

When the cartel announced …

Source: Reuters

Oil prices turn negative in U.S. trading amid debt talks

BOE Report


Oil prices erased earlier gains on Thursday during U.S. trading hours as a political standoff about the U.S. debt ceiling overshadowed a G7 finance leaders’ meeting, raising jitters about a possible recession in the world’s biggest oil consumer.…

Source: Reuters

Oil prices on track for a fourth consecutive weekly gain

Oil Price


Crude oil prices are about to record their fourth consecutive week of gains after OPEC said in its monthly report that supply is about to tighten further.

 

The latest Monthly Oil Market Report showed OPEC’s combined daily …

Source: Reuters

Oil prices climb in relief rally as banking concerns ease

Nasdaq


SINGAPORE – Oil prices climbed in early trade on Monday as concerns over turmoil in the banking sector eased, while comments by Russian President Vladimir Putin over the weekend ratcheted up geopolitical tensions in Europe.

Brent crude futures LCOc1

Oil prices near $75 as Russia extends output cut through June

Oil prices near $75 as Russia extends output cut through June

Oil Price


Russia will continue its 500,000 barrel per day crude oil production cut through the end of June this year, Russia’s Deputy Prime Minister Alexander Novak said on Tuesday.

 

 

Russia first announced the 500,000 bpd production cut …

Source: Reuters

Oil prices fall as SVB collapse spooks financial markets

BOE Report


Oil prices fell more than $1 on Tuesday, extending the previous day’s slide, as the collapse of Silicon Valley Bank rattled equities markets and sparked fear about a fresh financial crisis.

 

U.S. West Texas Intermediate crude futures …

Source: Oil Price

Oil prices are set to rise throughout 2023

Oil Price


Crude oil prices started this week with a loss. The reason for that initial weekly loss came down to overall global economic growth pessimism and expectations that the U.S. Federal Reserve will continue raising interest rates, making the …

Source: Oil Price

Goldman Sachs: Oil prices won’t hit $100 until December

Oil Price


Goldman Sachs still expects Brent Crude prices to hit $100 per barrel this year, but only in December compared to earlier expectations of $100 oil as soon as mid-2023, the bank said in a new note in which …

Source: Reuters

Oil prices edge higher as IEA’s Birol talks up China demand outlook

BOE Report


Oil prices slightly inched up on Monday after falling 8% last week to more than three-week lows as concerns that slower growth in major economies may limit fuel consumption outweighed signs of a demand recovery in China, the …

Source: Reuters

Oil prices set to climb on rumors that the Fed will stop hiking interest rates

Oil Price


Traders expect the Federal Reserve to end its rate hikes in two months, which could push oil prices higher due to the generally inverse relationship between rates and oil prices.

 

According to a Reuters report, the …

Source: Reuters

RBC: Oil prices will only go higher from here

Oil Price


Crude oil prices have found a floor and the only way they can go from here would be higher. That’s according to RBC commodity analysts Helima Croft and Michael Tran, as quoted by Bloomberg.

 

“We remain …

Source: Reuters

Oil prices firm on China demand optimism

BOE Report


Oil prices rose 1% on Thursday on expectations that demand will strengthen as top oil importer China reopens its economy and on news U.S. crude inventories have risen less than expected.

U.S. West Texas Intermediate (WTI) crude futures …

Source: Reuters

Oil prices hit 7-week high on stronger China outlook

Today


NEW YORK – Oil prices rose by around 1per cent on Monday to a seven-week high, extending last week’s gains on the back of a stronger outlook thanks to an expected economic recovery in top oil importer China this …