(Investing) – Oil prices edged higher Monday, in thin holiday-impacted trade, ahead of the release later in the week of the latest economic activity data from the US and China. By 09:15 ET (14.15 GMT), the U.S. crude futures traded 1% higher at $71.28 a barrel and the Brent contract climbed 0.7% to $74.31 a barrel. Key activity data due this week Crude prices have
(Investing) – NEW YORK -Oil prices rose on Friday and were set for a weekly gain in low trading volume ahead of year-end, backed by expectations of lower U.S. crude stockpiles and hopes of a stimulus-driven economic recovery in China. Brent crude futures rose 44 cents, or 0.6%, to $73.70 per barrel by 12:45 p.m. EST (1745 GMT). U.S. West Texas Intermediate crude
(Investing) – Oil futures dropped from their highest levels in weeks on Monday, pressured by weakness in consumer spending in China, the world’s largest oil importer. Brent crude futures fell 32 cents, or 0.4%, to $74.17 a barrel by 1300 GMT after settling on Friday at their highest since Nov. 22. U.S. West Texas Intermediate crude dropped by 27 cents, or
(Investing) – Oil prices rose more than 2% on Monday on a decision by OPEC+ to delay by a month plans to increase output, while the market braced for a crucial week that includes the U.S. presidential election. U.S. Democratic candidate Kamala Harris and Republican Donald Trump remain virtually tied in opinion polls ahead of Tuesday’s Election Day, and the winner
Oil Price Since 2008, the shale boom has grown U.S. oil production by about 9 million barrels per day. In the early days of the shale boom, when it wasn’t clear whether this development would have a significant impact, it was largely ignored by OPEC. By late 2014, as U.S. oil production growth was approaching 5 million BPD, OPEC decided
Oil Price The OPEC+ group is likely to roll over their current production cuts into the second half of 2024 when producers meet online this weekend, according to analysts and market expectations. The alliance is likely to extend the current 2.2 million barrels per day (bpd) production cuts, four anonymous OPEC+ delegates told CNBC ahead of the crucial meeting. The group would
Oil Price Crude oil prices have been stuck between bearish and bullish news this week, booking a modest decline over the four days to Thursday. This could yet change later today, resulting in another week of gains for benchmarks. On the other hand, the bearish sentiment may prevail. On that side, the focus has been on Chinese demand, which CNPC said this
Yahoo Finance BENGALURU – Oil prices rose more than $1 a barrel on Wednesday as investors focused their attention on expectations of fresh supply cuts from OPEC+ and looked past a jump in U.S. crude, gasoline and distillate stockpiles. Brent crude futures advanced by $1.42, or 1.7%, to settle at $83.10 a barrel, while U.S. West Texas Intermediate (WTI) crude
Nasdaq HOUSTON – Oil majors are targeting new oilfields that can be profitable even if oil prices fall to about $30 per barrel, using a third year of rising demand to reshape portfolios amid uncertainty over the industry’s future. Investors have not returned to oil stocks despite recent high earnings. Even the world’s lowest-cost oil producer, Saudi Aramco 2223.SE, has joined the
Oil Now Oil prices were steady on Monday, as investor bets that global supply will remain tight amid restraint by major producers were offset by a rise in Libyan output. Brent crude was down 4 cents, or 0.1%, to $86.02 a barrel by 0953 GMT. Earlier in the session, the contract touched its highest since Oct. 3, 2018, at
Reuters LONDON – Oil prices rose by about 2% on Monday, extending gains as an energy crisis grips major economies amid a pick-up in economic activity and restrained supplies from major producers. Brent crude was up $1.45, or 1.8%, at $83.84 a barrel by 1336 GMT, its highest since October 2018. U.S. West Texas Intermediate (WTI) crude rose $1.71, or
Reuters LONDON – Oil prices rose on Tuesday, extending sharp gains on a bullish demand outlook as U.S. regulators issued their first full approval for a COVID-19 vaccine and Mexico suffered a large production outage. Brent crude oil futures were up $1.50, or 2.2%, at $70.25 a barrel by 13442 GMT while U.S. West Texas Intermediate (WTI) gained $1.34, or
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