Oil prices tumbled more than 3% on Tuesday after Moderna’s CEO cast doubt on the efficacy of Covid-19 vaccines against the Omicron coronavirus variant, spooking financial markets. The head of drugmaker Moderna told the Financial Times that Covid-19 vaccines are unlikely to be as effective against the Omicron variant of the coronavirus as they have Read More
Oil prices slid more than 1% on Friday on concerns that a global supply surplus could swell in the first quarter following a coordinated release of crude reserves among major consumers, led by the United States. Brent crude futures extended declines for a third session, falling 96 cents, or 1.2%, to $81.26 a barrel by Read More
Oil prices ticked lower on Thursday with investors waiting to see how major producers respond to the emergency crude release by major consuming countries designed to cool the market, even as data pointed to healthy U.S. fuel demand. U.S. West Texas Intermediate (WTI) crude futures fell 9 cents, or 0.1%, to $78.30 a barrel at 0201 GMT, Read More
Oil prices fell on Wednesday as the U.S.-led coordinated release of stocks from strategic reserves eased concerns over tightness in global supply, while investors took profits from the previous day’s rally ahead of the U.S. Thanksgiving holiday. U.S. West Texas Intermediate (WTI) crude futures fell 12 cents, or 0.2%, to $78.38 a barrel at 0122 Read More
Oil prices rose on Monday but remained under pressure from rising COVID-19 cases in Europe and a potential release of Japanese and Indian oil reserves, raising concerns about both oversupply and weak demand. Prices of the Brent and U.S. West Texas Intermediate (WTI) crude benchmarks fell more than $1 in early trading, hitting their lowest Read More
Crude oil fell to seven-week lows on Monday, extending declines after the previous session’s slide, on concerns about excess supply after Japan said it was weighing releasing oil reserves and over demand from a worsening Covid-19 situation in Europe. Brent lost 57 cents, or 0.72%, to $78.32 a barrel as of 0206 GMT and U.S. Read More
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
