CNBC Oil prices topped $120 a barrel in choppy trade on Monday buoyed by Saudi Arabia raising its July crude prices but amid doubts that a higher output target for OPEC+ oil producers would ease tight supply. Brent crude touched an intraday high of $121.95 per barrel before trading flat at $119.61. U.S. West Texas Intermediate (WTI) crude futures rose
Reuters LONDON – Oil prices rose on Wednesday as the market awaited a pact from producers on output, which many traders expect will continue to be reined in, and Britain’s approval of a COVID-19 vaccine gave hopes for a demand recovery a boost. Prices were hit earlier by a surprise build in oil inventories in the United States and as
CNBC The historic deal reached by OPEC and its oil-producing allies to cut production has worked to “stem the tide, stem the damage that was being done to the market,” since the onset of the coronavirus pandemic and the Saudi Arabia-Russia oil price war, U.S. Energy Secretary Dan Brouillette told CNBC. Oil prices are down more than 55% year-to-date, having experienced the
