Post Tagged with: "oil rally"

Source: World Oil

Shale drillers see more interest from banks as oil prices rally

World Oil

(Bloomberg) –Banks are gradually offering more credit to U.S. shale oil and natural gas producers as the industry recovers from last year’s contraction and energy prices rally.

So-called borrowing bases will increase as much as 20% during the …

Source: Reuters

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


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

Petrobras earnings jump on oil rally and Brazil’s water crisis


Brazil’s state-controlled oil company saw its earnings surge in the second quarter, thanks to a rally in crude prices and a hydropower crunch in Brazil that boosted electricity demand.

Since late last year, Petrobras has sold more fuel oil …

Source: Reuters

Oil rally has more room to run, Brent expected to hit $80/bbl – Goldman


U.S. investment bank Goldman Sachs expects Brent crude prices to reach $80 per barrel this summer, betting that a recent oil market rally will continue as vaccination rollouts boost global economic activity and demand for the commodity.

Brent prices …

Source: Reuters

Oil’s rally, fueled by vaccine progress, is running out of steam


NEW YORK -The oil market has rallied almost 40% in the last two months, pushing benchmarks to nine-month highs, in a euphoric response to progress on COVID-19 vaccines that has investors thinking the end of the coronavirus pandemic is …

Source: Reuters

Oil prices extend rally on U.S. election day


LONDON – Oil prices extended their rally on U.S. election day with a 3% gain as financial markets staged a broad recovery, though gains were capped by concerns over surging coronavirus cases around the world.

Brent crude futures rose …

Source: CNBC

Oil rallies more than 50% in two days in comeback from record lows


Oil jumped more than 30% on Thursday, accelerating the recent rally as the Street eyed continued production cuts and rising U.S.-Iranian tensions.

West Texas Intermediate, the U.S. benchmark, rose 30%, or $4.18, to trade at $17.96 per barrel. …

Source: Houston Chronicle

Oil rally continues as virus fears show signs of easing

Houston Chronicle

Oil gained for a fourth session, the longest rising streak this year, amid signs that the worst impacts of the coronavirus outbreak may be easing.

Chinese refiners have used oil’s earlier drop to snap up cheap cargoes, taking …