U.S. crude oil on Tuesday hovered at a two-month high as worries grow that Israel and the Iran-backed militia Hezbollah could go to war, and Hurricane Beryl could impact Gulf Coast refineries.
As oil has rallied in recent days, …
Crude oil prices edged lower on Tuesday, pressured by a stronger dollar, while investors shifted focus to U.S. inflation data due this week.
Losses were limited, however, by escalating geopolitical tensions and hopes of improved demand this summer.…
LONDON – Brent oil futures prices ticked higher on Friday and were on course for their best week in more than four months after projections for solid crude oil and fuel demand in 2024.
Brent crude futures were …
LONDON – Oil pared gains on Friday as demand concerns intensified after strong U.S. jobs data soured hopes of the Federal Reserve cutting interest rates soon.
Brent crude futures edged up 12 cents to $79.99 a barrel while …
The slump in oil prices so far this week has dragged down shares in the top UK-based oil and gas supermajors, Shell and BP, with their stock falling on Tuesday and pushing London’s main FTSE 100 index in …
HOUSTON – Oil prices fell more than $1 a barrel on Tuesday on scepticism about an OPEC+ decision at the weekend to boost supply later this year into a global market where demand has already shown signs of …
LONDON/DUBAI-OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production.
Brent …
LONDON – Global oil prices steadied on Tuesday as the prospect of OPEC+ maintaining oil supply curbs at its June 2 meeting and hopes of strong U.S. summer fuel demand balanced concern about higher-for-longer U.S. interest rates.
On
LONDON :Oil prices crept up on Thursday, clawing back some of the previous three days’ losses despite the U.S. Federal Reserve entertaining further tightening of interest rates if inflation remains sticky, a move that could hurt oil demand.
Brent …
Oil steadied on Friday, with global benchmark Brent heading for its first weekly gain in three weeks, as economic indicators from big consumers China and the United States bolstered hopes for higher demand.
China’s industrial output rose 6.7% year …
Oil prices slipped on Tuesday after a short-lived boost from stronger economic data out of Europe as the market weighed the potential fallout from any fresh U.S. sanctions on Iranian oil exports.
Global benchmark Brent crude oil futures
OPEC+ once again extended its oil production cuts this month. The decision was anything but unexpected and, unlike previous production policy announcements, it had the desired effect on prices. However, it could only work for so long. Soon, …
HOUSTON – Oil prices dipped for a second straight day on Tuesday, as talks for a ceasefire in Gaza continued, but losses were limited to less than a dollar a barrel as Egyptian and Qatari mediators met resistance …
Surging U.S. oil production and shifting global oil flows amid geopolitical flare-ups have boosted American crude exports to record-high levels in recent months. Now U.S. oil is encroaching on the key markets of the OPEC+ group, which has …
(Bloomberg) – OPEC+ chose to stick with oil production cuts for the first half of the year, keeping global markets tight and potentially sending prices higher.
A panel of key members led by Saudi Arabia recommended no policy …
Brent crude oil surged past $87 on Monday as Russia’s war on Ukraine increasingly focuses on attacks on energy installations, and as mediation in the Israel-Gaza conflict fails.
On Monday at 10:14 a.m. ET, Brent crude was trading …
Oil prices fell on Wednesday after hitting multi-month highs in the previous session, as investors braced for the U.S. Federal Reserve’s interest rate policy announcement later in the day.
Brent crude futures for May were down $1.20 or 1.4% …
Brent crude oil prices were little changed on Wednesday as supply cuts announced this week by top crude exporters Saudi Arabia and Russia countered concern over the global economy. The Brent benchmark was up 45 cents, or 0.6%, at …
Oil prices climbed on Monday as the borders reopened in China, the world’s top crude importer, boosting the outlook for fuel demand growth and offsetting global recession concerns.
Brent crude futures LCOc1rose 90 cents, or 1.2%, to …
Oil prices rose modestly in early trade on Monday after sliding to eight-month lows last week weighed down by a surging U.S. dollar and fears sharp interest rate hikes globally would spark a recession and hit fuel demand.…
LONDON :Oil prices rose on Friday after a U.S. official told Reuters an immediate Saudi oil output boost is not expected, with further support from indications that the U.S. central bank could raise interest rates less aggressively than anticipated.…
(Bloomberg) –Add Morgan Stanley to the list of banks expecting crude to reach $100 a barrel later this year.
The bank expects stockpiles to slide even lower by the end of the year, after falling substantially in 2021, …
LONDON, Nov 4 – Oil prices rose more than $2 on Thursday, lifted by expectations that OPEC and its allies will stick to slow output increases despite calls from the United States and large importers for additional supply to …
(Bloomberg) –Oil swung between gains and losses as traders weigh the ongoing impact of a global energy crunch and dwindling inventories at a key U.S. storage hub.
Front-month futures in New York traded below $83, paring an earlier …
LONDON – The structure of Brent crude oil futures is showing a “scarcity premium” that has widened to the most since 2013 this week, a sign of the tight market underpinning oil’s rally amid a wider energy crunch as …
(Bloomberg) –Oil rallied after a U.S. industry report showed another big draw in crude inventories, pointing to a tightening market, and China’s central bank added liquidity to quell concern about a major developer’s debt woes.
West Texas Intermediate …
LONDON – Oil prices rose on Tuesday as tighter U.S. supplies helped to reverse days of losses triggered by concerns across global markets about the impact on China’s economy of a crisis at heavily-indebted property group China Evergrande.
Brent …
LONDON -Oil prices were steady on Friday after a U.S. jobs report indicated a patchy recovery amid the pandemic but the demand picture remained bright globally and the aftermath of a U.S. hurricane also checked losses.
Brent crude futures …
LONDON – Oil prices rose on Tuesday, recouping some of their losses in the previous session, as rising demand in Europe and the United States outweighed concerns over an increase in COVID cases in Asian countries.
Brent crude was …
LONDON -Oil prices rose on Friday and were on track to post weekly gains, with demand growing faster than supply, while vaccinations are expected to alleviate the impact of a resurgence in COVID-19 infections across the globe.
