Post Tagged with: "oil prices"

Source: Reuters

Factbox: Pandemic brings forward predictions for peak oil demand

Reuters


The COVID-19 pandemic this year has dented oil consumption and brought forward forecasts by energy majors, producers and analysts for when the world’s demand for oil may peak.

 

Demand was about 100 million barrels per day (bpd) in …

Lack of investment, more demand to drive oil price volatility – industry execs

Lack of investment, more demand to drive oil price volatility – industry execs

Reuters


SINGAPORE – A lack of investment in new oil and gas supplies, amid a shift in focus to cleaner fuels, is likely to drive price volatility in the next decade as demand for traditional energy sources grows, senior industry …

September 28, 2021 - 12:48 pm Closing Bell Story‎, Commodity Pricing, Crude Oil News, Energy News
Source: CNBC

Brent oil jumps to nearly 3-year high above $80 before turning negative

CNBC


International oil benchmark Brent crude jumped during early trading on Tuesday morning, topping $80 per barrel for the first time since October 2018 before reversing those gains and dipping into negative territory. The breather comes after five straight positive …

Oil will climb to $90 by year-end: Goldman Sachs

Oil will climb to $90 by year-end: Goldman Sachs

Fox Business


Goldman Sachs Group Inc. raised its forecast for global crude oil prices to reach $90 per barrel by the end of this year, up from $80, due to supply disruptions in the Gulf of Mexico and signs of …

Source: World Oil

Oil prices slip, gasoline jumps as Hurricane Ida disrupts infrastructure

World Oil


(Bloomberg) –U.S. gasoline futures jumped after Hurricane Ida barreled ashore in Louisiana, disrupting processing facilities. Oil reversed early gains as local rigs may have escaped significant damage and the OPEC+ producers’ cartel is expected on Wednesday to endorse …

Source: Reuters

Oil jumps as storm approaches Gulf of Mexico production hub

Reuters


LONDON -Oil prices rose on Friday and were on track to post big gains for the week on worries about supply disruptions as energy companies began shutting production in the Gulf of Mexico ahead of a possible hurricane forecast …

Source: Reuters

Oil has only done this twice in the past 20 years — and it could forecast a 50% rally

CNBC


Oil prices could be setting up for a major rally, one strategist says.

 

Though the energy sector has cooled off in recent months, U.S. West Texas Intermediate crude’s price chart just flashed a rare signal, Miller Tabak’s Matt

Source: Reuters

U.S. calls on OPEC and its allies to pump more oil

Reuters


U.S. President Joe Biden’s top aides are pressuring OPEC and its allies to boost oil output to tackle rising gasoline prices that they see as a threat to global economic recovery.

Biden’s national security adviser Jake Sullivan criticized the …

Source: Reuters

Oil rises as market shrugs off virus impact

Reuters


LONDON – Oil prices rose on Tuesday, recouping some of their losses in the previous session, as rising demand in Europe and the United States outweighed concerns over an increase in COVID cases in Asian countries.

Brent crude was …

Source: Reuters

Oil rises on Mideast tensions but virus concerns weigh

Reuters


LONDON – Oil prices rose towards $71 a barrel on Thursday on rising Middle East tensions, while fresh movement restrictions imposed by countries to counter a surge in COVID-19 cases threatened the demand recovery.

Brent crude oil futures rose …

Source: Reuters

Eni pledges higher returns as business looks up

Reuters


MILAN – Italian energy group Eni pledged higher shareholder returns after swinging to a net profit in the second quarter to beat expectations as firmer oil prices offset lower production.

Adjusted net profit was 929 million euros ($1.1 billion), …

FILE PHOTO: Crude oil storage tanks are seen from above at the Cushing oil hub, in Cushing, Oklahoma, March 24, 2016.  REUTERS/Nick Oxford

Oil prices rises, on track for weekly gain

Reuters


LONDON -Oil prices rose on Friday and were on track to post weekly gains, with demand growing faster than supply, while vaccinations are expected to alleviate the impact of a resurgence in COVID-19 infections across the globe.

Brent crude

Source: Reuters

U.S. oil drops 6% to below $70 as OPEC prepares to boost production, Covid concerns weigh

CNBC


West Texas Intermediate crude futures fell below the key $70 level Monday for the first time in more than a month as OPEC and its allies agreed to raise output, and as the delta Covid variant threatens global demand.…

Source: BOE Report

Oil prices slip as China import drop signals demand risk

BOE Report


Oil prices fell on Wednesday over fresh concerns about demand after data showed that China’s first-half crude imports dropped, but were still holding near a one-week high amid worries about supplies as the world recovers from the coronavirus

Source: Reuters

OPEC+ yet to make progress in resolving impasse, sources say

Reuters


MOSCOW/LONDON – OPEC+ is yet to make progress closing divisions between Saudi Arabia and the United Arab Emirates that last week prevented a deal to raise oil output, making another policy meeting this week less likely, OPEC+ sources said.…

July 12, 2021 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: CNBC

Is this the end of OPEC? How Saudi Arabia and UAE infighting threatens the future of the oil alliance

CNBC


LONDON — Oil producer group OPEC has been plunged into crisis, with bitter infighting between Saudi Arabia and the United Arab Emirates raising questions about the future of the energy alliance.

OPEC and non-OPEC partners, a group of some …

Source: Reuters

Oil on track for fifth weekly gain on strong demand

Reuters


LONDON -Oil prices rose on Friday, and were on track for a fifth consecutive weekly gain on expectations demand growth will outstrip supply and OPEC+ producers will be cautious in returning more supply to the market from August.

Brent …

Source: Reuters

Brent rises above $75 a barrel on strong demand outlook

Reuters


TOKYO – Crude oil prices steadied on Tuesday after Brent rose above $75 a barrel for the first time since April 2019, with prices underpinned by a strong demand outlook and as OPEC+ begins discussions on raising oil production.…

Source: Reuters

Crude oil prices steady near multi-year highs

Reuters


LONDON -Crude oil prices hovered near multi-year highs on Thursday, buoyed by falling U.S. crude inventories which limited the impact of a stronger U.S. dollar.

Brent crude oil futures dropped 12 cents, or 0.1%, to $74.27 a barrel by …

Source: Reuters

Brace for huge oil volatility, U.S. trading group says

Reuters


LONDON – Oil prices are likely to be extremely volatile in the next few years, driven by supply constraints rather than demand as financing for new production evaporates in favour of renewables, U.S.-based Castleton Commodities International said.

“You could …

Source: Reuters

Oil hits fresh multi-year highs on demand recovery

Reuters


NEW YORK -Oil prices edged up to multi-year highs on Friday, heading for a third straight week of gains on the improved outlook for worldwide demand as rising vaccination rates lead to a lifting of pandemic curbs.

Brent crude

Source: Reuters

Column: Oil output restraint draws hedge fund buying: Kemp

Reuters


LONDON- Portfolio managers increased their positions in petroleum last week, reversing roughly half the sales over the previous three weeks, as benchmark oil prices started to break up through the recent ceiling.

Hedge funds and other money managers purchased …

Source: Reuters

Oil hits two-year high above $72 on OPEC+ discipline, demand hopes

Reuters


NEW YORK – Oil prices surged on Wednesday, hitting their highest in more than a year from a decision by OPEC and allies to stick to the plan to gradually restore supply, along with the slow pace of nuclear

Source: Reuters

Oil steady after mixed U.S. inventory report

Reuters


NEW YORK -Oil prices were little changed on Thursday, following two straight days of gains that took oil futures to highs not seen in a year, after weekly U.S. crude stocks fell sharply while fuel inventories rose more than …

Source: Reuters

Oil extends gains on OPEC+ supply discipline and demand prospects

Reuters


LONDON – Oil rose on Wednesday, supported by an OPEC+ decision to stick to its plan to restore supply to the market gradually and by the slow pace of nuclear talks between Iran and the United States.

Brent rose …

Source: Reuters

Brent up $2, hits highest since March on demand prospects

Reuters


LONDON -Oil prices rose on Tuesday, with Brent hitting above $71 and trading at its highest since March, on expectations for growing fuel demand during the summer driving season in the United States as OPEC+ agreed to boost output.
Source: Reuters

Column: Oil prices lose momentum as funds cut positions

Reuters


Portfolio managers trimmed their bullish positions in petroleum last week for the second week running, after prices again failed to break through the recent ceiling around $70 per barrel.

Hedge funds and other money managers sold the equivalent of …

Source: Reuters

Column: Oil prices lose momentum as funds cut positions

Reuters


LONDON  – Portfolio managers trimmed their bullish positions in petroleum last week for the second week running, after prices again failed to break through the recent ceiling around $70 per barrel.

Hedge funds and other money managers sold the …

Source: Reuters

Oil prices up over $1 amid potential Iran talks hitch

Reuters


LONDON -Oil prices rose on Monday as a potential snag emerged in reviving the 2015 Iran nuclear deal that could add more oil supply, while Goldman Sachs (NYSE:GS) said the case for higher prices remained intact even …

Source: Reuters

Column: Oil prices capped by hedge fund profit-taking

Nasdaq


LONDON – Hedge funds cut their petroleum positions last week as oil prices neared the top of recent trading ranges and the cyberattack on the Colonial fuel pipeline looked set to cut crude processing and diesel output.

The previous …