Brent

Oil Prices WTI

Oil Prices Slip But Remain above $75 a barrel Despite Large Inventory Drawdown

Oil prices slipped but remained near $75 per barrel on Thursday as crude stockpiles in the United States, the world’s top oil consumer, fell last week to their lowest since January 2020 and imports and production dropped. Brent crude futures fell 5 cents, or 0.1%, to $74.69 a barrel by 0108 GMT U.S. West Texas Intermediate (WTI) crude …

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Oil

Oil Prices Edge Higher, U.S Crude Inventories Fall Sharper than Expected

Oil prices climbed on Wednesday after industry data showed U.S. crude and product inventories fell more sharply than expected last week, reinforcing expectations that demand will outstrip supply growth even amid a surge in Covid-19 cases. U.S. West Texas Intermediate (WTI) crude futures rose 43 cents, or 0.6%, to $72.08 a barrel at 0119 GMT, reversing Tuesday’s …

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OPEC Oil Prices

Oil Edges Lower as Concern on OPEC+ Supply talks Lingers Amidst Rising COVID-19 Cases

Oil prices were lower in early Asian trade on Monday as the dispute in talks among key producers to raise output in coming months kept supplies tight, offsetting concerns about coronavirus’ impact on the global economy. Brent crude for September fell 4 cents to $75.51 a barrel by 0032 GMT U.S. West Texas Intermediate crude for …

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Crude Oil

Oil Prices Rise to Multiyear High, OPEC+ Meeting Called Off

Oil jumped to its highest level in nearly three years after talks between OPEC, and its oil-producing allies were postponed indefinitely, with the group failing to reach an agreement on production policy for August and beyond. On Tuesday, U.S. oil benchmark West Texas Intermediate crude futures advanced 2.06%, or $1.55, to $76.71 per barrel, its highest level …

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Oil

U.S Oil Hits a multi-year High of $70, Investors Watch Out for Iran Nuclear Talks

Oil extended gains to hit fresh multi-year highs on Monday, supported by a brighter economic and fuel-demand outlook. At the same time, investors eyed the outcome of talks between Iran and world powers over a nuclear deal set to boost crude supplies. Brent crude futures for August rose 28 cents, or 0.4%, to $72.17 a …

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Oil

Oil Steady Near One Weak High as Possibility of Return of Iran Supply Boost Demand

Oil prices were steady on Tuesday, holding around one-week highs after jumping more than 3% the previous session as prospects of an early return of oil exporter Iran to international crude markets lessoned. Brent crude futures were down 6 cents at $68.40 a barrel by 0039 GMT, having jumped 3% on Monday. U.S. West Texas …

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Oil

Oil Prices Edge Higher after a Steep Decline in U.S Stockpiles.

Oil prices edged higher on Wednesday, extending gains from the previous session after industry data indicated U.S. crude stocks fell much more than expected last week, reinforcing bullish views on fuel demand in the world’s largest economy. U.S. West Texas Intermediate (WTI) crude futures rose 48 cents, or 0.7%, to $66.17 a barrel at 0440 …

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oil

Oil Prices Slip Amidst Growing Concerns on Stockpiles and COVID-19 Vaccine

Oil prices fell on Tuesday, extending declines for a third day, as concerns about rising stockpiles in the United States added to the threat to demand posed by countries including Germany and France halting COVID-19 vaccinations. Brent crude was down 58 cents, or 0.8%, at $68.30 by 0041 GMT, having dropped 0.5% on Monday. U.S. crude was …

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