Oil prices were mixed on Tuesday as Saudi Arabia’s sharp cuts in crude contract prices for Asia sparked fears over slower demand, but strong Chinese economic data capped losses. Brent crude futures were up 12 cents, or 0.2%, to $72.34 a barrel by 0947 GMT, after falling 39 cents on Monday. U.S. West Texas Intermediate Read More
Oil prices extended losses on Monday after the world’s top exporter Saudi Arabia slashed crude prices for Asia over the weekend, signaling that global markets are well supplied. Brent crude futures for November fell 57 cents, or 0.8%, to $72.04 a barrel by 0101 GMT while U.S. West Texas Intermediate crude for October was at Read More
Oil prices were largely steady on Friday as a rebound in global demand was widely expected but a slow recovery for the U.S. Gulf Coast export and refining hub from the hurricane earlier this week weighed on prices. Brent crude futures were up 22 cents, or 0.3%, to $73.25 a barrel at 0911 GMT, while Read More
Oil prices edged higher on Thursday, supported by a sharp decline in U.S. crude stocks and a weaker dollar, though gains were capped by an OPEC+ decision to stick to its policy of only gradual increases to output. Brent crude was up 30 cents, or 0.4%, at $71.89 a barrel by 0917 GMT and West Read More
Oil prices recovered on Wednesday, after a U.S. industry report showed crude inventories fell more than expected last week, steadying after overnight losses from the impact of Hurricane Ida on U.S. refineries. Prices rose ahead of the OPEC+ meeting at 1500 GMT where the Organization of the Petroleum Exporting Countries (OPEC), Russia and allies are Read More
Gold prices slipped, after touching a near a four-week high earlier on Monday, as the dollar ticked up from its lows and investors showed caution in the run-up to the release of a key U.S. jobs report later in the week. Spot gold fell 0.4% to $1,808.67 per ounce by 1:33 p.m. ET after touching Read More
The Fujairah Oil Terminal is investing an estimated $45 million to upgrade the infrastructure at its storage facilities, betting on a surge in crude trading and storage demand at the United Arab Emirates oil hub, the company’s chairman told Reuters. FOT’s expansion, financed by a new $280 million debt facility, will connect its terminal to Read More
Oil fell on Thursday for the first session in four amid renewed concerns about demand recovery as more restrictions are imposed to curb Covid-19 infections. Brent crude was down 61 cents, or 0.9%, at $71.63 per barrel, having risen 1.7% on Wednesday. U.S. oil was down 68 cents, or 1%, at $67.68 a barrel, after Read More
Gold retreated below $1,800 on Wednesday as the dollar halted its slide while investors sought cues on the timeline of monetary tapering from the U.S. Federal Reserve’s symposium this week. Spot gold was down 0.6% at $1,792.76 per ounce by 7:10 a.m. ET, while U.S. gold futures fell 0.7% to $1,795.50. Gold jumped 1.4% on Read More
Oil prices rose on Tuesday, extending sharp gains on a bullish demand outlook as Mexico suffered a big production outage and U.S. regulators issued their first full approval for a COVID-19 vaccine. Brent crude oil futures were up $1.33, or 1.9%, at $70.08 per barrel, while U.S. West Texas Intermediate (WTI) gained $1.21, or 1.8%, Read More
