January 2022

Oil prices rose on Friday, set for their sixth weekly gain, amid concerns of tight supplies as major producers continue their policy of limited output increases amid rising fuel demand. Brent crude futures climbed 45 cents, or 0.5%, to $89.79 a barrel at 0429 GMT, after falling 62 cents during the previous day. However, prices did Read More

Oil steadied on Thursday, clawing back losses earlier in the session, as strong demand and short-term supply disruptions continue to support prices close to their highest levels since late 2014. Brent crude futures fell 17 cents, or 0.2%, to $88.27 a barrel, as of 0418 GMT, having dropped more than $1 earlier in the session. The Read More

Oil prices edged up on Monday as investors bet supply will remain tight amid restrained output by major producers with global demand unperturbed by the omicron coronavirus variant. Brent crude futures gained 9 cents, or 0.1%, to $86.15 a barrel by 0539 GMT. Earlier in the session, the contract touched its highest since Oct. 3, Read More

Oil prices eased for a second session on Friday on growing concerns that Washington may soon act to cool prices, while movement controls in China to rein in a Covid-19 outbreak weighed on fuel demand. Brent crude futures fell 30 cents, or 0.4%, to $84.17 a barrel at 0150 GMT. U.S. West Texas Intermediate crude Read More

Oil prices steadied on Wednesday after rising in the previous session on expectations that fuel demand will continue to strengthen as the U.S. Federal Reserve is likely to raise interest rates more slowly than expected. Brent and U.S. crude oil futures are trading at their highest since the highly contagious Omicron COVID-19 variant emerged in Read More

Oil prices climbed on Tuesday, with investors regaining some risk appetite as they await clues from the U.S. Federal Reserve chairman on potential interest rate rises and as some oil producers continued to struggle to beef up output. Brent crude futures gained 40 cents, or 0.5%, to $81.27 a barrel at 0529 GMT, after dropping Read More

Oil prices rose on Wednesday, extending gains even after OPEC+ producers stuck to an agreed output target rise for February and U.S. fuel inventories surged due to sliding demand as COVID-19 cases spiked. Brent crude futures rose $1.22, or 1.5%, to $81.22 a barrel as of 12:35 p.m. ET. U.S. West Texas Intermediate (WTI) crude Read More

Oil prices rose on Tuesday as investors expected OPEC+ producers meeting on output to stick with their planned increase for February based on indications Omicron would have only a mild impact on demand. Brent crude was up 48 cents, or 0.6%, at $79.46 a barrel at 1310 GMT, while U.S. West Texas Intermediate (WTI) crude Read More

Oil slipped below $78 a barrel on Monday as OPEC+ looked set to agree to a further oil output increase and concern persisted about the demand impact of rising coronavirus cases, despite hopes of a further recovery in 2022. OPEC and its allies, or OPEC+, are expected on Tuesday to agree to the output hike. Read More