CNBC Oil prices rose on Thursday as the IEA joined producer group OPEC in forecasting relatively strong growth in global oil demand this year, with price impetus also coming from disruption to U.S. output and geopolitical risks in the Middle East. Brent crude futures gained 2 cents to $77.90 a barrel while U.S. West Texas Intermediate crude futures rose 22 cents, or
Nasdaq SINGAPORE – Oil prices rose on Friday and are set for a third weekly gain, as better-than-expected Chinese economic data and reports of record oil consumption bolstered the view that demand in the world’s second-largest crude consumer will continue to surge. Brent crude futures LCOc1 rose 62 cents, or 0.7%, to $94.32 as of 0249 GMT, while the U.S. West Texas
Oil Price The average retail price of regular gasoline in the United States has risen by 6% over the past five weeks heading into the Labor Day weekend, the U.S. Energy Information Administration (EIA) said on Thursday. On the Monday before the Labor Day weekend, August 28, 2023, the retail price of regular gasoline averaged $3.81 per gallon across the U.S. Prices have increased
CNBC Oil prices rose on Monday as tightening supply and hopes for Chinese stimulus underpinned Brent at well above $80 a barrel, even as traders expected more rate hikes from U.S. and European central banks. Brent crude futures were up 45 cents, or 0.6%, at $81.52 a barrel. U.S. West Texas Intermediate (WTI) crude was at $77.55 a barrel, also
World Oil (WO) – The latest analysis from McKinsey & Company (McKinsey) reveals that oil and gas industry costs could increase between 6 to 10% in 2023 due to labor uncertainties and raw-materials inflation. The analysis uncovers that primary operation tasks, such as regular inspections and maintenance, are becoming more expensive as labor rates grow upwards of 9 percent per
Investing BENGALURU – Oil prices rose by more than a dollar per barrel on Thursday, resuming a recent rally built around rising Chinese demand, while the market wrote off a second straight week of large builds in U.S. crude inventories. Brent crude futures were up $1.26, or 1.5%, to $86.24 a barrel at 1:20 p.m. EST (1820 GMT), and U.S. West Texas
Oil Price Tankers carrying largely Kazakh crude oil from Russian ports to international markets are stuck in Turkish waters in the Bosphorus and the Dardanelles because Turkey is insisting on them presenting proof of insurance. The tanker jam began earlier this week, on the day the G7 and EU price cap on Russian oil exports came into effect.
Yahoo News LONDON – OPEC is likely to maintain its view world oil demand will rise for another decade, longer than many other forecasters predict, in a forthcoming major report, despite the growing role of renewables and electric cars, two OPEC sources said. The Organization of the Petroleum Exporting Countries is scheduled to update its long-term oil demand forecasts
BOE Report LONDON – Oil prices rose on Wednesday on supply concerns and a weaker dollar, but U.S. stockpile data capped gains. Brent crude futures for December were up 54 cents, or 0.58%, at $94.06 a barrel by 1312 GMT. U.S. West Texas Intermediate (WTI) crude futures for December were up 80 cents, or 0.94%, at $86.12. A weaker
CNBC Oil prices rose on Monday as Iranian nuclear talks appeared to hit obstacles and an embargo on Russian oil shipments loomed, with tight supply struggling to meet still robust demand. Brent crude futures rose $1.42, or 1.5%, to $94.30 per barrel. U.S. West Texas Intermediate crude was up $1.37, or 1.6%, at $88.20 per barrel. Prices were little changed last
CNBC OPEC+ is set to raise oil output by a tiny 100,000 barrels per day in what analysts described as an insult to U.S. President Joe Biden after his trip to Saudi Arabia last month to persuade OPEC’s leader to pump more to help the U.S. and global economy. The increase, equivalent to 86 seconds of global oil demand, comes after weeks
Nasdaq June 13 – Benchmark 10-year Treasury yields hit their highest level since 2011 on Monday and a key part of the yield curve inverted for the first time since April as investors braced for the prospect that the Federal Reserve’s attempts to stem soaring inflation will dent the economy. Yields jumped after data on Friday showed that U.S. consumer
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