Oil prices traded higher but in a narrow range on Thursday, after being rocked earlier in the week by supply losses from Libya and a worrying outlook for demand as the International Monetary Fund cut its global growth forecasts. Brent crude futures rose $1.02, or nearly 1%, to $107.87 a barrel at 6:15 a.m. ET, recouping Read More
Oil prices rose on Tuesday as investors fretted over tight global supply after Libya was forced to halt some exports and as factories in Shanghai prepared to reopen post a COVID-19 shutdown, easing some demand worries. Brent crude futures rose 61 cents, or 0.5%, to $113.77 a barrel at 0349 GMT, while U.S. West Texas Read More
Oil prices climbed on Tuesday as Shanghai’s relaxation of some COVID-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses from Russia. Brent crude futures advanced 6.26% to $104.64 while U.S. West Texas Intermediate settled 6.69% higher at $100.60 per barrel. Both contracts lost about Read More
Oil prices climbed on Tuesday as fears of a demand downturn in China eased after Shanghai relaxed some COVID-19 related restrictions, and OPEC warned it would be impossible to increase output enough to offset lost Russian supply. Brent crude futures were up $1.72, or 1.75%, to $100.20 a barrel, and U.S. West Texas Intermediate contracts Read More
Oil prices dropped by more than $2 a barrel on Monday after a second straight weekly decline on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China. Brent crude for June delivery was down $2.97, or 2.9%, at $99.78 a barrel. U.S. West Texas Read More
Oil futures fell on Wednesday following a surprising rise in U.S. crude stocks and after news that large consuming nations would also release oil from reserves in conjunction with the United States to counter supply worries. Member states of the International Energy Agency (IEA) will release 120 million barrels from strategic reserves, including 60 million Read More
Oil futures rose on Wednesday, paring early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in U.S. crude stockpiles and Shanghai’s extended lockdown. Brent crude futures were up $1.07, or 1%, at $107.71 a barrel, having fallen to $105.06 earlier in the session. Read More
Oil futures extended gains on Tuesday as the United States and Europe planned new sanctions to punish Moscow over alleged war crimes by Russian troops in Ukraine, adding to concerns about supply disruptions, while Iran nuclear talks stalled. Brent crude futures rose $1.20, or 1.1%, to $108.73 a barrel, while U.S. West Texas Intermediate futures were up $1.25, Read More
Oil prices seesawed on Friday ahead of a meeting of International Energy Agency (IEA) member nations set to discuss a release of emergency oil reserves alongside a huge planned release by the United States. Brent crude futures were up 72 cents, or 0.7%, to $105.45 a barrel, after falling 5.6% on Thursday. U.S. West Texas Read More
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