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
Oil prices fell about 1% to their lowest in two weeks on Thursday after Iran said talks with world powers on its nuclear programme would resume by the end of November and on rising U.S. crude inventories. Brent crude settled 26 cents, or 0.31%, lower at $84.32 per barrel, having hit a two-week low of $82.32 Read More
Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories unexpectedly increased last week in the United States, the world’s largest oil consumer. Brent oil futures fell 1.42%, or $1.28, to trade at $85.12 a barrel after closing at the highest in seven years on Tuesday. Read More
Oil prices edged up to their highest since 2014 on Tuesday, supported by a global supply shortage and strong demand in the United States, the world’s biggest consumer. The rally came ahead of U.S. inventory reports from the American Petroleum Institute (API), an industry group, on Tuesday and the U.S. Energy Information Administration on Wednesday. Read More
Oil prices edged lower on Tuesday, taking a breather from a sustained rally driven by strong demand in the United States, the world’s biggest consumer of oil and its products. Brent crude was down 20 cents or 0.2% at $85.79 a barrel by 0143 GMT, after gaining 0.5% on Monday. U.S. oil was down 21 cents or 0.3% at $83.55 Read More
Oil prices rose on Monday, extending pre-weekend gains, with U.S. crude hitting a seven-year high as global supply remained tight amid strong demand worldwide as economies recover from coronavirus pandemic-induced slumps. Brent crude futures climbed 26 cents, or 0.3%, to $85.79 a barrel at 0048 GMT, following on from last Friday’s 1.1% gain. The contract Read More
Oil hit a three-year high above $86 a barrel on Thursday driven by tight supply and a global energy crunch, although prices eased as some investors took profits on signs the rally is looking overstretched. Helping to drive the latest gain, a supply report from the U.S. Energy Information Administration on Wednesday showed crude and Read More
