Oil prices fell on Wednesday after the International Energy Agency and the Organization of the Petroleum Exporting Countries warned of impending oversupply and as COVID-19 cases in Europe increased the downside risks to demand recovery. The market pared some of those losses after an unexpected decline in U.S. crude oil stockpiles. Brent crude futures dropped Read More
Oil prices dropped on Wednesday after U.S. gasoline stocks fell more than expected last week, which could heighten pressure on the Biden administration to release oil from emergency reserves to cap soaring gasoline prices. U.S. West Texas Intermediate (WTI) crude futures fell 76 cents, or 0.9%, to $80.00 a barrel at 0211 GMT, extending a 12 cent loss from Read More
Oil prices settled mixed on Monday as investors wondered whether crude supplies will increase and whether demand will be pressured by the recent surge in energy costs, the strong dollar and rising COVID-19 cases. Brent futures settled down 12 cents, or 0.2%, to $82.05 a barrel while U.S. West Texas Intermediate (WTI) crude rose 8 Read More
Oil prices were steady to a few cents lower on Thursday, as the market grappled with a stronger U.S. dollar along with concern over increasing U.S. inflation, and after OPEC cut its 2021 oil demand forecast due to high prices. Brent crude futures were down 8 cents to $82.56 a barrel after falling earlier to Read More
ok’sd4luy8+t’llk,vobkgk0mOil prices edged lower after U.S. crude stocks rose modestly, one day after an industry report suggested stocks had tightened. Brent crude futures were at $84.09 a barrel, down 69 cents. U.S. West Texas Intermediate (WTI) crude futures fell by $1.24, or 1.5%, to $82.91 per barrel. U.S. crude inventories rose by 1 million barrels Read More
Oil prices rose for a third session on Tuesday as the passage of a U.S. infrastructure bill, Chinese exports and the global post-pandemic recovery lifted the outlook for fuel demand. Brent crude was up 8 cents at $83.51 a barrel by 0220 GMT, after gaining 0.8% on Monday. U.S. oil was up 10 cents at $82.03, also after a 0.8% Read More
Oil prices rose on Monday after Saudi Arabia’s state-owned oil producer Aramco raised the official selling price for its crude, suggesting demand remains strong at a time of tighter supplies. Brent crude was up by 90 cents or 1.1% at $83.64 a barrel, after dropping nearly 2% last week. U.S. oil gained 87 cents or Read More
Oil prices fell on Wednesday as industry data pointed to a big build in crude oil and distillate stocks in the United States, the world’s largest oil consumer, and as pressure mounted on OPEC to increase supply. Brent crude futures fell 2.15%, or $1.82, to $82.90 per barrel, while U.S. West Texas Intermediate (WTI) crude Read More
Oil steadied near $85 a barrel on Tuesday, not far from a multi-year high, supported by signs that supply from OPEC and other producers is falling short, although expectations of a rise in U.S. inventories was weighing. The increase in OPEC’s oil output in October undershot the rise planned under a deal with allies, a Read More
U.S. crude prices edged higher on Friday, turning positive after an early decline, supported by expectations that the Organization of the Petroleum Exporting Countries, Russia and their allies, known as OPEC+, would maintain production cuts. Brent crude settled 0.07% higher at $84.38 per barrel and U.S. West Texas Intermediate crude rose 0.92% to $83.57. Both Read More
