Oil prices rose on Monday, reversing earlier losses, as investors kept bullish sentiment on expectations that global supply would remain tight as demand picks up and shrugged off signs of progress in the U.S.-Iran nuclear talks. “Investors scooped up short-term profits on the news suggesting progress in the U.S.-Iran nuclear talks, but fresh buying kicked Read More
Oil prices rose on Wednesday towards last week’s seven-year highs after data showing a fall in U.S. crude stocks underlined solid demand, but investors remained cautious ahead of an OPEC+ meeting due later in the day. Brent crude climbed 36 cents, or 0.4%, to $89.52 a barrel by 0123 GMT, after easing 10 cents on Read More
Oil prices edged higher on Tuesday, trading near seven-year highs hit last week, as investors bet supplies will stay tight, with a limited production hike by major oil producers and a strong post-pandemic recovery in fuel demand. Brent crude for April delivery was up 14 cents, or 0.2% at $89.40 a barrel at 0150 GMT. Read More
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
