LONDON – Oil prices rose more than 2% on Tuesday, reaching its highest in nearly 12 months after major producers showed they were reining in output roughly in line with their commitments.
Brent crude was up $1.31, or 2.3%, …
NEW YORK – Oil prices eased on Tuesday as coronavirus cases globally continued to rise, but losses were capped amid reports of a blast in Saudi Arabia.
Brent crude was up 4 cents, or 0.1%, at $55.92 by 12:57 …
LONDON – Oil prices climbed on Tuesday as optimism that government stimulus will eventually lift global economic growth and oil demand trumped concerns that renewed COVID-19 lockdowns are cooling fuel consumption.
Brent crude futures for March rose 73 cents, …
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 …
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 …
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 …
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 …
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
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 …
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 …
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 …
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.…
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 …
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 …
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, …
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 …
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 …
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 …
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 …
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.
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 …
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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, …
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 …
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 …
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 …
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 …
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 …
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 …
