Post Tagged with: "WTI"

Source: Reuters

Oil falls on renewed lockdowns, stronger dollar

Reuters


LONDON – Brent crude oil prices fell as much as $1 per barrel on Monday, hit by renewed concerns about global fuel demand amid tough coronavirus lockdowns around the world, as well as a stronger U.S. dollar.

Brent was …

Source: Reuters

Oil hits 11-month highs on Saudi cuts, shrugs off U.S. turmoil

Reuters


NEW YORK  -Oil prices settled higher on Thursday, hitting 11-month peaks, as markets remained focused on Saudi Arabia’s unexpected pledge to deepen its oil cuts and firmer equities, shrugging off political turmoil in the United States.

Brent crude settled …

January 8, 2021 - 1:30 pm Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Oil outlook for 2021 hit by new COVID-19 strain: Reuters poll

Reuters


Oil prices are unlikely to mount much of a recovery in 2021 as a new coronavirus variant and related travel restrictions threaten already weakened fuel demand, a Reuters poll showed on Thursday.

The poll of 39 economists and analysts …

Source: Reuters

Oil drops as new coronavirus strain revives demand fears

Reuters


LONDON -Oil dropped towards $50 a barrel on Tuesday, adding to losses from the previous session, as a mutant variant of the coronavirus in Britain revived concerns over demand recovery.

Detection of the new variant prompted several countries to …

Source: Reuters

Oil dips as COVID-19 cases, lockdowns outweigh vaccination news

Reuters


NEW YORK -Oil prices edged lower on Tuesday, extending the previous session’s losses after the U.S. state of California tightened its pandemic lockdown through Christmas and COVID-19 cases surged in the United States and Europe.

Brent crude fell 3

December 8, 2020 - 10:35 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil prices inch down as OPEC and allies seek consensus on output

Reuters


LONDON – Oil prices inched down on Tuesday as investors awaited direction from OPEC and its allies after the producers postponed a formal meeting to decide whether to lift output from January.

Brent crude was down 19 cents at …

December 1, 2020 - 11:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil prices face uphill struggle in 2021 despite vaccine progress: Reuters poll

Reuters


Oil prices will struggle to gain upward traction next year as demand remains in the grip of the coronavirus pandemic despite growing optimism over vaccines and a likely extension of output cuts by top producers, a Reuters poll showed …

November 30, 2020 - 2:30 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil prices fall as OPEC+ members debate 2021 output policy

Reuters


LONDON  – Oil prices fell on Monday on uncertainty about whether OPEC+ would agree to extend their large output cuts at talks this week, but vaccine hopes still kept benchmark crudes on track to rise by more than a …

November 30, 2020 - 9:30 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Oil extends gains on vaccine hopes, shrugs off U.S. inventory build

Reuters


LONDON – Oil prices climbed for a fourth straight session on Wednesday, shrugging off a report showing U.S. crude inventories rose more than expected and extending a rally driven by hopes that a COVID-19 vaccine will boost fuel demand.…

Source: Reuters

Oil rises but IEA casts doubt on speedy demand recovery

Reuters


LONDON  – Oil prices rose on Thursday, taking this week’s gains to more than 12% on growing hopes that the world’s major producers will hold off from a planned supply increase, though the advance was kept in check by …

Source: Reuters

Goldman cuts 2021 Brent forecast as virus surge creates temporary headwind

Reuters


Goldman Sachs cut its 2021 Brent crude price forecast but said a surge in COVID-19 cases in Europe and the U.S. only represented a “speed bump” before a potential vaccine and continued supply cuts by top producers tightened market …

Source: Reuters

Oil holds steady; traders look to U.S. stimulus talks for hope

Reuters


NEW YORK  – Oil was little changed on Tuesday, pressured by the threat to demand from rising coronavirus cases worldwide and increased Libyan output, though traders said talk of a U.S. stimulus package was supporting markets.

Brent crude LCOc1

Source: Forbes

Where the U.S. oil industry stands

Forbes


The global Covid-19 pandemic led to an abysmal second quarter for the earnings of U.S. oil companies, but oil prices themselves staged a recovery during the quarter.

The second quarter began with oil prices having fallen into the teens, …

August 24, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil prices inch lower as demand forecasts reduced, supply rises

Reuters


NEW YORK  – Oil prices edged lower on Friday as investors feared demand would recover more slowly than expected from COVID-19 pandemic lockdowns, while rising supply also overshadowed optimism over falling crude and fuel inventories.

This week, two prominent …

Source: CNBC

Oil prices fall as rising coronavirus case numbers cast shadow over fuel demand pickup

CNBC


Oil prices slid on Tuesday amid concerns that a nascent recovery in fuel demand could stall as a fresh wave of COVID-19 infections around the world sparks tighter lockdowns just as major producers ramp up output.

U.S. West Texas

August 4, 2020 - 11:00 am Commodity Pricing, Crude Oil News, Energy News
Source: Reuters

Column: Hedge funds pull bullish bets on petroleum – Kemp

Reuters


LONDON – Hedge funds turned less bullish on petroleum at the end of July amid anticipated rises in OPEC+ production and growing concerns about the impact of resurgent coronavirus infections on the global economic outlook.

Money managers sold the …

August 3, 2020 - 1:00 pm Closing Bell Story‎, Crude Oil News, Energy News, Finance
Source: CNBC

Oil prices bounce back from 3-week lows, but economic headwinds loom

CNBC


Oil prices rose on Friday, recovering further ground after touching three-week lows in the previous session, hit by a record decline in U.S. growth as the coronavirus ravaged the world’s biggest economy and oil consumer.

Brent crude was up …

Source: CNBC

Oil rises after surprise drop in U.S. inventories offsets demand concerns

CNBC


Oil prices rose on Wednesday after an industry report showed that crude inventories in the United States fell against expectations, giving the market a boost amid record increases of coronavirus infections in the U.S. and elsewhere.

Brent crude futures

Source: Reuters

Oil up on weak dollar though U.S.-China tensions, virus weigh

Reuters


SINGAPORE/LONDON  – Oil prices edged higher on Monday helped by a weak dollar and expected U.S. stimulus measures but gains were capped by rising global coronavirus cases and tensions between the United States and China.

Brent crude LCOc1 rose …

Oil Profitability Around the World – or – What is the cost to keep their social programs running?

Oil Profitability Around the World – or – What is the cost to keep their social programs running?

RarePetro


Oil & Gas 360 Publishers Note: This is an outstanding piece from Kevin about world oil costs and what the countries need to make in order to keep up with their social programs. We have been covering this topic,

Source: Reuters

Oil eases as high U.S. oil stocks outweigh weak dollar

Reuters


LONDON  – Oil edged lower on Thursday as rising U.S. fuel inventories and concerns about surging coronavirus cases outweighed the impact of a weaker dollar, which usually boosts oil prices.

Brent crude LCOc1 fell 22 cents, or 0.5%, to …

Source: Reuters

Oil prices broadly stable as stimulus hopes balance corona fears

Reuters


LONDON – Oil prices were broadly stable on Friday in early U.S. trading, as expectations of stimulus programmes balanced concerns about the recovery in fuel demand as coronavirus cases surged, while major crude producers prepared to lift output.

Brent …

Source: Reuters

Oil prices ease after OPEC+ agrees to ease output curbs

Reuters


LONDON – Oil prices fell on Thursday after OPEC and other producers including Russia agreed to ease record supply curbs from August, though the drop was cushioned by tightening global inventories as economic activity picks up.

Brent crude fell …

July 16, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News, OPEC
Source: Reuters

Oil steadies on resurgence of virus cases

Reuters


LONDON  – Oil prices steadied on Friday but were still set for weekly declines as inventories rose and record-breaking new coronavirus cases in the United States stoked concern about the pace of economic recovery and fuel demand.

Brent crude …

Oil mixed on tighter supply, surge in U.S. virus cases

Oil mixed on tighter supply, surge in U.S. virus cases

Reuters


LONDON – Oil prices were mixed on Monday, with Brent crude edging higher on tighter supplies and positive economic data, while U.S. benchmark WTI futures dropped on concern that a spike in coronavirus cases could curb fuel demand in …

Source: CNBC

Oil prices just had their best quarter in 30 years — what’s next?

CNBC


Oil prices registered their best quarterly performance in 30 years during the three months through to the end of June, staging a dramatic comeback after falling to record lows in April.

Brent crude futures skyrocketed more than 80% in …

Source: Reuters

Urals u-turn as Europe shuns expensive Russian oil

Reuters


MOSCOW/LONDON  – The rapidly rising price of Russia’s flagship Urals blend oil has forced European refineries to cut purchases from Moscow and look for crude supplies elsewhere, traders said on Friday.

Urals, a blend of heavy sour oil from …

Source: CNBC

Two leading oil price reporting agencies launch new U.S. crude benchmarks to rival WTI

CNBC


Two leading oil price reporting agencies separately launched new U.S. crude benchmarks on Friday, as part of an effort to rival the U.S. West Texas Intermediate futures contract.

The move from S&P Global Platts and Argus Media comes as

June 26, 2020 - 10:00 am Closing Bell Story‎, Crude Oil News, Energy News
Source: Reuters

Oil falls on rising stocks, worries of new virus wave

Reuters


LONDON  – Oil prices fell on Wednesday, as record high inventories and worries about a second wave of the coronavirus pandemic outweighed support from a gradual reopening of global economies.

Brent crude was down 66 cents, or 1.5%, to …

Source: Reuters

Column: Oil prices transitioning to next phase of cycle – Kemp

Reuters


LONDON  – Brent futures prices have risen by more than 80% over the last two months, the fastest increase at any point for more than a quarter of a century, as the market has rebounded from its worst crisis …

June 23, 2020 - 12:30 pm Closing Bell Story‎, Crude Oil News, Energy News