oil prices – Oil & Gas 360

Oil steadies as Sverdrup field restart counters geopolitical concerns

November 19, 2024

(Investing) – LONDON -Oil prices steadied on Tuesday as the restart of production at Norway’s Johan Sverdrup oilfield offset investor concerns about an escalation in the Russia-Ukraine war. Equinor resumed partial production from the North Sea oilfield, Western Europe’s largest, after a power outage there helped lift oil prices by over 3% on Monday. Brent crude futures were down 12 cents, or

Oil prices on track for weekly loss as Chinese demand wanes

November 15, 2024

(Investing) – HOUSTON – Oil prices slipped on Friday and were bound for a weekly loss as investors digested waning Chinese demand and a possible slowing of the U.S. Federal Reserve’s interest rate cut path. Brent crude futures dropped 71 cents, or 0.98%, to $71.85 a barrel by 10:32 a.m. EDT. U.S. West Texas Intermediate crude futures were down 72 cents, or

Oil prices rebound 1% after dollar-related sharp declines

November 14, 2024

(Investing) – LONDON – Oil prices rose about 1% on Thursday, paring some of the sharp declines seen earlier this week due to a stronger U.S. dollar and worries about rising supply amid slow demand growth. Brent crude futures were up 70 cents to $72.98 a barrel at 1401 GMT. U.S. West Texas Intermediate crude futures were up 68 cents to $69.11.

Middle East turmoil remains a major factor in driving oil prices

November 13, 2024

(Oil Price) – Oil markets have kicked off the new week on the back foot, with oil prices sliding after a disappointing Chinese stimulus while traders continue to digest news of Trump winning a second term in the White House. Whereas China’s top legislative body approved a $1.4T package to help local governments swap some of their mounting debts off their

Oil prices fall more than 1% as Hurricane Rafael risk recedes

November 8, 2024

(Investing) – LONDON – Oil prices fell on Friday on receding fears over the impact of Hurricane Rafael on oil and gas infrastructure in the U.S. Gulf while investors also weighed up fresh Chinese economic stimulus. Brent crude oil futures lost 93 cents, or 1.23%, to $74.70 a barrel by 1415 GMT. U.S. West Texas Intermediate (WTI) crude was down $1.05,

Oil rises as investors take stock of Trump victory, US crude stocks rise

November 6, 2024

(Investing) – HOUSTON – Oil prices turned positive on Wednesday after falling by more than $2, despite U.S. crude stocks rising by more than expected, according to the Energy Information Administration (EIA). Brent crude oil futures were up 38 cents, or 0.5%, at $75.91 per barrel by 11:07 a.m. EDT. U.S. West Texas Intermediate (WTI) crude rose by 57 cents or 0.79%, to

Oil prices continue to rise; election uncertainty, economic cues in focus

November 5, 2024

(Investing) – Oil prices edged higher Tuesday, continuing recent gains, with traders now seeking more cues from the U.S. presidential election and a top political meeting in China. At 08:00 ET (13:00 GMT), Brent oil futures climbed 0.5% to $75.45 a barrel, while West Texas Intermediate crude futures rose 0.5% to $71.85 a barrel. Oil shot up on Monday (NASDAQ:MNDY), posting gains of around 2%, after the

Oil rises on stronger US fuel demand, delay to OPEC+ supply hike

October 31, 2024

(Investing) – HOUSTON – Oil prices rose on Thursday as investors priced in stronger U.S. fuel demand and the potential for OPEC+ to delay a planned output increase in December, five days ahead of the U.S. election. Brent futures rose by 54 cents, or 0.74%, to $73.09 a barrel by 1:09 p.m. EDT. WTI futures were up 51 cents, or 0.74%, at

Oil prices climb as US reserve bid lends support

October 29, 2024

(Investing) – Oil prices rose more than 1% on Tuesday, reversing some of the previous session’s 6% tumble, as a U.S. plan to buy oil for the Strategic Petroleum Reserve (SPR) provided some support though wider concerns about weaker future demand growth exerted pressure. Brent crude futures climbed 94 cents, or 1.32% to $72.36 a barrel by 1237 GMT, while U.S. West

Oil heads for weekly gain as Middle East keeps market on edge

October 25, 2024

(CNBC) – Oil prices were heading for a weekly gain of more than 2%, with Friday’s prices were little changed on the day as traders were kept on edge by simmering tensions in the Middle East ahead of a planned resumption in Gaza ceasefire talks in the coming days. Brent crude futures rose 71 cents, or 0.95%, to $75.09 a barrel,

Oil prices broadly stable with uncertainty around Middle East and US election

October 24, 2024

(Yahoo Finance) – LONDON – Oil prices were broadly stable on Thursday as uncertainty around conflict in the Middle East and reports of North Korean troops ready to help Russia in Ukraine kept traders on edge ahead of the U.S. presidential election. Brent crude futures were up 46 cents, or 0.6%, at $75.42 a barrel by 1318 GMT. U.S. West

Oil prices regain some ground after 7% loss last week

October 21, 2024

(Investing) – LONDON – Oil prices rose on Monday, recouping some of last week’s more than 7% decline on worries about demand in China, the world’s top oil importer, and easing concerns about potential supply disruptions in the Middle East. Brent crude futures were up $1.10, or 1.51%, at $74.16 a barrel at 1308 GMT. U.S. West Texas Intermediate crude futures were

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