Oil prices eased on Monday after rising 2% in the previous session as investors shrugged off the impact of Russian output cuts, instead focusing on short-term demand concerns stemming from refinery maintenance in Asia and the United States. Prices rose on Friday after Russia, the world’s third largest oil producer, said it would cut crude Read More
Oil prices fell in early trade on Friday but were headed for a weekly gain with the market continuing to seesaw between fears of a recession hitting the United States and hopes for strong fuel demand recovery in China, the world’s top oil importer. Brent crude futures fell 28 cents, or 0.3%, to $84.22 a Read More
Oil edged up in early trade on Thursday, extending gains for a fourth consecutive day, as crude loading disruptions in Turkey and optimism over China’s recovering demand continued to buoy sentiment. Brent crude futures rose 14 cents, or 0.2% to $85.26 a barrel by 0239 GMT, while U.S. West Texas Intermediate (WTI) crude futures firmed Read More
Oil prices inched higher on Monday, recovering from an 8% fall last week to more than three-week lows, driven by expectations slower growth in major economies may limit fuel use. Brent crude futures rose 43 cents, or 0.5, to $80.37 a barrel, while U.S. West Texas Intermediate (WTI) crude futures climbed 25 cents to $73.64. Read More
Oil prices eased on Friday, with major benchmarks headed for their second straight week of losses, as the market awaited further signs of fuel demand recovery in China to offset looming slumps in other major economies. Brent crude futures fell 8 cents, or 0.1%, to $82.09 a barrel, while U.S. West Texas Intermediate (WTI) crude Read More
Oil prices closed steady on Tuesday after recovering from a near three-week low, drawing support from a weakening dollar and on data showing that demand for U.S. crude and petroleum products rose in November. The more active second-month Brent contract settled at $85.46 a barrel, up 96 cents or 1%, while the U.S. West Texas Read More
Oil prices fell on Tuesday, touching two-week lows on the prospect of further interest rate increases, a stronger U.S. dollar and ample Russian crude flows. March Brent crude futures were 86 cents, or 1%, lower at $84.04 per barrel, having touched their weakest level since Jan. 13 earlier in the session. The March contract expires on Read More
Oil prices rose about 2% on Thursday on expectations that global demand will strengthen as top oil importer China reopens its economy and on positive U.S. economic data. Brent futures rose $1.35, or 1.6%, to settle at $87.47 a barrel, while U.S. West Texas Intermediate (WTI) crude rose 86 cents, or 1.1%, to settle at Read More
Oil prices rose 1% on Thursday on expectations that demand will strengthen as top oil importer China reopens its economy and on news U.S. crude inventories have risen less than expected. Brent crude futures rose 78 cents, or 0.9%, to $86.90 a barrel by 1046 GMT. U.S. West Texas Intermediate (WTI) crude futures were up Read More
Oil rose by about $1 a barrel on Friday and posted second straight weekly gain, spurred largely by brightening economic prospects for China and resulting expectations of a boost to fuel demand in the world’s second-biggest economy. The lifting of Covid-19 restrictions in China is set to increase global demand to a record high this Read More
