Reuters HOUSTON – Oil prices were little changed on Monday, as worries over a possible recession offset an outlook for higher fuel demand with the upcoming U.S. driving season and Shanghai’s plans to reopen after a two-month coronavirus lockdown. Brent crude futures were up 35 cents, or 0.3%, to $112.92 a barrel by 11:24 a.m. ET (1524 GMT). U.S. West Texas Intermediate
World Oil Aramco, which last week surpassed Apple Inc. to become the world’s most valuable company, followed Big Oil rivals such as Shell Plc and BP Plc in reporting bumper earnings for the first quarter. Like them, the Saudi Arabian firm’s results were boosted by crude’s jump to $110 a barrel after Moscow’s attack in late February. State-controlled Aramco made net income of $39.5
CNBC Top OPEC ministers have hit back at new U.S. legislation intended to regulate its output, saying such efforts would bring greater chaos to energy markets. UAE Energy Minister Suhail Al Mazrouei told CNBC Tuesday that OPEC was being unfairly targeted over the energy crisis, and moves by U.S. lawmakers to disrupt its established system of production could see oil
CNBC Oil prices slipped on Monday alongside equities and was weighed down by a strong dollar and demand concerns on the back of continued coronavirus lockdowns in China, the world top oil importer. Brent crude fell 2.3%, or $2.61, to $109.78 per barrel. U.S. West Texas Intermediate crude was at $106.87, for a loss of $2.88, or 2.6%. Both contracts have gained
CNBC Oil prices steadied after trading in and out of positive territory on Thursday as investors weighed up tightening Russian supplies and the prospect of slowing fuel demand in China. Brent crude futures were down 9 cents at $105.23 a barrel. U.S. West Texas Intermediate crude rose 13 cents to $101.15. Both contracts had gained 30 cents on Wednesday on concerns
Nasdaq LONDON – Portfolio investors purchased petroleum last week for the first time in four weeks, but overall positioning remained subdued by the high cost of margin and large uncertainties surrounding both crude supply and demand. Hedge funds and other money managers bought the equivalent of 14 million barrels in the six most important petroleum-related futures and options contracts in
CNBC Oil prices slipped on Friday, with some supply concerns easing on expectations that crude exports would resume from Kazakhstan’s CPC terminal, while the European Union remained split on whether to impose an oil embargo on Russia. Brent fell $1.28 to trade at $117.69 a barrel. U.S. West Texas Intermediate (WTI) crude slid $1.74 to $110.60 a barrel, after both had dropped
Yahoo Finance LONDON -Oil prices were set for a second straight weekly loss, but found a floor above $100 a barrel on Friday after volatile trading this week with no easy replacement for Russian barrels in sight in a market already marked by tight supply. Brent crude futures fell 27 cents, or 0.3%, to $106.37 a barrel by 1356 GMT,
Reuters LONDON: Oil prices slipped on Friday after sharp rises earlier in the session on concern over potential global supply disruptions from sanctions on major crude exporter Russia. Source: Reuters The April Brent crude futures contract was down $1.06, or 1.1%, at $98.02 a barrel at 1453 GMT, after climbing as high as $101.99. The more active May contract shed
World Oil (Bloomberg) — Energy prices surged after Russian President Vladimir Putin signed an order to send what he called “peacekeeping forces” to the two breakaway areas of Ukraine that he officially recognized on Monday. Source: World Oil European natural gas led the gains with as much as 13% rise, helped higher by Germany halting the approval process of the controversial Nord
CNBC Oil prices edged higher on Thursday, maintaining the market’s upward trajectory built on expectations that supply will continue to tighten even after OPEC+ producers stuck to planned moderate output increases. Tight global supplies and global political tensions have boosted oil prices by about 15% so far this year. Demand remains on the upswing, with the Omicron coronavirus only temporarily
Reuters LONDON – The risk of geopolitical disruption to oil supply at a time of already tight inventories due to the strong post-pandemic recovery has sent the premium commanded by barrels for prompt delivery soaring, suggesting the current price rally has further to run. Under this “backwardated” market structure, the current price is higher than that of later-dated contract months,
