(Investing) – Oil prices rose more than 2% on Wednesday after Reuters reported that OPEC+ could delay a planned oil production increase in December by a month or more because of concern over soft oil demand and rising supply. Brent crude futures gained $1.10, or 1.6%, to $72.22 a barrel by 1418 GMT. U.S. West Texas Intermediate crude gained $1.07, also 1.6%,
Yahoo Finance NEW YORK – Oil prices jumped over 2% on Tuesday on the possibility OPEC+ will extend or deepen supply cuts, a storm-related drop in Kazakh oil output and a weaker U.S. dollar. Brent crude futures were up $1.88, or 2.4%, at $81.86 a barrel by 11:03 a.m. EST (1603 GMT). U.S. West Texas Intermediate (WTI) crude gained $1.84, or
CNBC Oil prices rose slightly on Monday as bullish sentiment about tightening supplies from OPEC+ cuts and a resumption in U.S. buying for reserves outweighed concerns about fuel demand in the top global oil consumers, the United States and China. Brent crude futures rose 39 cents or 0.5% to $74.56 a barrel, while U.S. West Texas Intermediate crude was at
Investing TOKYO – Oil prices advanced on Friday and were heading for a second week of gains amid growing confidence that demand for fuel is starting to pick up despite the coronavirus pandemic that has slammed economies worldwide. Brent crude (LCOc1) was up 14 cents, or 0.3%, at $45.10 by 0043 GMT, heading for a gain of about 1.6% this
CNBC Oil prices rose on Tuesday, supported by a softer dollar and a U.S. plan to restock petroleum reserves, but gains were capped by uncertainty over the impact of rising Covid-19 cases in top oil importer China. Brent crude futures were last up 20 cents, or 0.26%, at $80.01 a barrel, adding to a 76 cent gain in the
Reuters 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 cool the market. Brent crude was up $2.15, or 2.6%, at $84.14 a barrel by 1338 GMT and U.S.
World Oil (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 traded above $71 a barrel after rising as much as 1.9%. Nationwide stockpiles sank more than 6 million barrels, including
Reuters NEW YORK – Oil prices rose on Thursday, rebounding from early losses after U.S. government data showed a much bigger drop than expected in crude and gasoline inventories. Still, Brent prices remained about $3 a barrel below Monday’s close, as traders worried global crude supplies might swell following the collapse of negotiations between the Organization of the Petroleum Exporting
CNBC LONDON — A group of some of the world’s most powerful oil producers will meet on Thursday to decide the next phase of their production policy. OPEC and non-OPEC partners, an energy alliance often referred to as OPEC+, convene via videoconference on Tuesday afternoon. A joint press conference is scheduled to take place following the conclusion of the meeting.
Reuters NEW YORK – Oil prices rose on Wednesday, heading for monthly and quarterly gains, after data showed U.S. crude stockpiles were shrinking and an OPEC report foresaw an undersupplied market this year. The Brent crude contract for August, due to expire on Wednesday, was up 28 cents, or 0.4% at $75.04 a barrel by 11:22 (1522 GMT.) The September
Reuters Oil prices rose on Monday, hitting their highest levels in more than two years supported by economic recovery and the prospect of fuel demand growth as vaccination campaigns in developed countries accelerate. Brent was up 73 cents, or 1%, at $73.42 per barrel, its highest since May 2019. U.S. West Texas Intermediate gained 75 cents, or 1.1%, to trade at $71.66
Reuters LONDON – Oil prices rose on Tuesday after strong Chinese import data, while Middle East tensions gave only a limited boost given no crude supply has been disrupted so far. Brent crude oil futures were up 67 cents, or 1%, at $63.95 a barrel by 1221 GMT, while U.S. crude oil futures gained 61 cents, or 1%, to $60.31
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