Oil Futures

Oil Prices Brent WTI China

Oil Gains 0.4% Despite Growing Concerns on Europe Lockdowns, China Slowdown

Oil prices extended gains on Thursday on confidence that the omicron coronavirus variant would not dent global growth, even as some governments stepped up curbs to stop its rapid spread. U.S. West Texas Intermediate (WTI) crude oil futures rose 28 cents, or 0.4%, to $72.64 a barrel at 0201 GMT, adding to a 0.4% gain in …

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Brent Crude Oil price wti

Oil Reverses Gains as Prices Dip 0.3% on GlaxoSmithkline Vaccine Optimism

Oil prices edged lower on Wednesday, reversing gains from earlier the week, as investors tried to assess the full impact of the omicron coronavirus variant on global fuel demand and the effectiveness of existing vaccines. Brent crude futures dropped 25 cents, or 0.3%, to $75.19 a barrel at 0129 GMT, after settling 3.2% higher on Tuesday. U.S. West …

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Oil Price

Oil Prices Edge Higher, as Investors Focus on OPEC+ Decision Oversupply Policy

Oil prices rose on Thursday, recouping the previous day’s losses, as investors adjusted positions ahead of an OPEC+ decision oversupply policy, but gains were capped amid fears the Omicron coronavirus variant will hurt fuel demand. Brent crude futures rose 85 cents, or 1.2%, to $69.72 by 0402 GMT, having eased 0.5% in the previous session. …

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Oil Prices Fall More than 2% after a Report Causes Doubt on the Effectiveness of Vaccines

Oil prices gave up gains on Tuesday, falling more than 2% along with broader financial markets after a media report cast doubt on the efficacy of COVID-19 vaccines against the Omicron coronavirus variant. The head of drugmaker Moderna told the Financial Times that COVID-19 vaccines are unlikely to be as effective against the Omicron variant …

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Crude Oil Prices

Oil Prices Edge Lower, as Investors Wait for OPEC+ Response on U.S-led Crude Release

Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 9 cents, or 0.1%, to $78.30 a barrel at 0201 …

Oil Prices Edge Lower, as Investors Wait for OPEC+ Response on U.S-led Crude Release Read More »

Oil

Oil Prices Decline as China Readies Release of Crude from Strategic Reserves

Oil prices fell on Thursday, adding to an overnight plunge as China said it was moving to release reserves following a Reuters report that the United States was asking big crude consumers to consider a coordinated release of stocks to lower prices. The bid by the U.S. administration to shock markets comes as inflationary pressures, …

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Oil

U.S Oil Rises to Above $79, the Highest Since 2014 Amidst Global Supply Concern

U.S. oil prices rose for a fifth day on Wednesday to their highest since 2014 amid global concerns about energy supply on signs of tightness in crude, natural gas and coal markets. Brent crude prices also climbed for a fourth day on the supply anxiety, particularly after the Organization of the Petroleum Exporting Countries (OPEC) …

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Crude Oil

Oil Prices Rise Brent Crude Above $81 as OPEC+ Holds Firm on Supply Restraints

Oil prices climbed on Tuesday, hitting their highest levels in at least three years, extending gains triggered during the previous session after the world’s major oil producers announced they had decided to keep a cap on crude supplies. Brent crude was up by 40 cents or 0.5% at $81.66 a barrel by 0341 GMT, having …

Oil Prices Rise Brent Crude Above $81 as OPEC+ Holds Firm on Supply Restraints Read More »

Crude Oil

Oil Prices Edge Higher after Drawdown in U.S Stocks Signaling Positive Demand Outlook

Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer, and on expectations that demand will recover as vaccine roll-outs widen. Brent crude oil rose 39 cents, or 0.5%, to $73.99 a barrel by 0133 GMT, U.S. West Texas Intermediate (WTI) crude climbed 44 …

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Oil

Oil Hits 6-week High on Fears of U.S. Supply Disruptions From Storm Nicholas

 Oil prices hit a six-week high on Tuesday on concerns that another storm could affect output in Texas this week even as the U.S. industry struggles to return to normal production levels after Hurricane Ida wreaked havoc on the Gulf Coast. Oil prices rallied for a third straight day, with Brent crude hitting the highest …

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Oil

Oil Reverses Losses, as Tight U.S. Supplies Offset China Reserves Sales Plan

Oil prices rose on Friday on growing signs of tightness in U.S. markets after Hurricane Ida hit offshore output, although benchmarks were heading for weekly losses of about 1% after China announced plans to sell crude from its strategic reserves. Brent crude futures for November rose 44 cents, or 0.6%, to $71.89 a barrel by …

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Oil Crude prices

Oil Prices Edge Higher on Slow Return of U.S. Supply After Hurricane Ida

Oil prices were little changed on Wednesday following overnight losses from a stronger dollar and demand concerns, with a slow production restart in the U.S. Gulf of Mexico providing some support. U.S. West Texas Intermediate (WTI) crude futures rose 11 cents, or 0.2%, to $68.46 a barrel at 0429 GMT, after sliding 1.4% on Tuesday following …

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Oil

Oil Prices Mixed, Fear on Slower Demand for Asia Weighs on Sentiments

Oil prices were mixed on Tuesday in quiet trade as some investors scooped up bargains following the recent losses while growing fears over slower demand after Saudi Arabia’s sharp cuts to crude contract prices for Asia weighed on sentiment. Brent crude futures for November rose 31 cents, or 0.4%, to $72.53 a barrel by 0452 GMT, …

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Oil Prices Edge Lower after Saudi Arabia Announces Price Cuts for Asia

Oil prices extended losses on Monday after the world’s top exporter, Saudi Arabia, slashed crude prices for Asia over the weekend, signalling that global markets are well supplied. Brent crude futures for November fell 57 cents, or 0.8%, to $72.04 a barrel by 0101 GMT, while U.S. West Texas Intermediate crude for October was at $68.73 …

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Oil Prices Slip as U.S Refiners Shutdown due to Effects of the Hurricane Ida

Oil prices fell on Tuesday on concerns that power outages and flooding in Louisiana after Hurricane Ida will cut crude demand from refineries at the same time global producers plan to raise output. U.S. West Texas Intermediate (WTI) crude futures were down 41 cents, or 0.6%, to $68.80 a barrel at 0245 GMT, reversing most …

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Brent Crude Oil price wti

Oil Prices Mixed as Hurricane Ida Slams U.S Crude Hub Forcing Shutdown of Major Platforms

Oil prices pared early gains on Monday, off more than three-week highs reached earlier in the session as a powerful hurricane ploughing through the Gulf of Mexico forced shutdowns and evacuations of hundreds of offshore crude platforms. U.S. gasoline prices rose more than 3% as power outages added to refinery closures on the Gulf coast. …

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Brent Crude Oil price wti

Oil Prices Rebound 0.9% Despite Dim Demand Outlook and Surging Covid-19 Cases

Oil prices reversed out of a seven-day losing stretch on Monday as investors punted on crude at bargain levels, though lingering fears over how a surge in global Covid-19 cases might affect fuel demand combined with a firmer U.S. dollar to limit gains. Brent crude futures climbed 60 cents, or 0.9%, to $65.78 a barrel by …

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Oil Prices

Oil Slips for Second Day as EIA Demand Outlook Turns Negative; WTI Drops 0.5%

Oil prices fell for a second day on Friday after the IEA warned that demand growth for crude and its products had slowed sharply as surging cases of Covid-19 worldwide has forced governments to revive restrictions on movement. Brent crude was down 31 cents, or 0.4%, at $71.00 a barrel by 0046 GMT, after dropping 13 cents …

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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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Oil Prices Drop as Rising COVID-19 Infections Threaten Demand Outlook.

Oil prices fell on Thursday after an unexpected rise in U.S. crude oil inventories and as rising COVID-19 infections threaten demand, but prices held on to most of their gains from the previous session on expectations that supplies will remain tight through year-end. Brent crude fell 32 cents, or 0.4%, to $71.91 a barrel at 0347 …

Oil Prices Drop as Rising COVID-19 Infections Threaten Demand Outlook. Read More »

Oil Prices

Oil Prices Decline as Drop in China’s Crude Imports Signals Demand Risk

Oil prices fell on Wednesday on future demand concerns after data showed that China’s first-half crude imports dropped, but were still holding near a one-week high amid concerns about supplies as the world recovers from the coronavirus pandemic. Brent crude was down 8 cents, or 0.1%, at $76.41 a barrel by 0141 GMT, after gaining 1.8% …

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Oil

Oil Rises on Expectations of Further Decline in U.S Crude Inventories

Oil prices climbed on Tuesday, reversing some of the previous day’s losses, as tight supply and expectations of a further draw in U.S. crude inventories provided support, although fears over the spreading COVID-19 variant capped gains. Brent crude for September rose 19 cents, or 0.3%, to $75.35 a barrel by 0421 GMT, after losing 0.5% …

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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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Asia Markets Traders

Asian Markets Mixed, Hong Kong Records Shorter Trading Day

Stocks in Asia-Pacific were mixed on Monday, as Hong Kong saw a shorter trading day following a morning pause due to severe weather conditions. The Hang Seng index slipped fractionally on Monday to 29,268.30. Trading in Hong Kong’s markets resumed Monday afternoon in the city after an earlier severe weather warning was lowered. Hong Kong Exchanges and …

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