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
ok’sd4luy8+t’llk,vobkgk0mOil prices edged lower after U.S. crude stocks rose modestly, one day after an industry report suggested stocks had tightened. Brent crude futures were at $84.09 a barrel, down 69 cents. U.S. West Texas Intermediate (WTI) crude futures fell by $1.24, or 1.5%, to $82.91 per barrel. U.S. crude inventories rose by 1 million barrels Read More
Oil prices rose for a third session on Tuesday as the passage of a U.S. infrastructure bill, Chinese exports and the global post-pandemic recovery lifted the outlook for fuel demand. Brent crude was up 8 cents at $83.51 a barrel by 0220 GMT, after gaining 0.8% on Monday. U.S. oil was up 10 cents at $82.03, also after a 0.8% Read More
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
Gold prices inched up on Tuesday, as a decline in the dollar and U.S. bond yields provided some support to the precious metal. Fundamentals Spot gold rose 0.2% to $1,767.91 per ounce by 0126 GMT. U.S. gold futures rose 0.2% to $1,769.60. Supporting gold by making it cheaper for buyers in other currencies, the dollar Read More
Oil prices jumped to a three-year high above $85 a barrel on Friday, boosted by forecasts of a supply deficit in the next few months as the easing of coronavirus-related travel restrictions spurs demand. Brent crude futures advanced 1% to settle at $84.86 per barrel. Front-month prices, which touched their highest level since October 2018 Read More
Oil prices climbed on Friday, heading for gains of more than 2% for the week, on increasing signs of tight supply over the next few months as rocketing gas and coal prices stoke a switch to oil products. U.S. West Texas Intermediate (WTI) crude futures rose 30 cents, or 0.4%, to $81.61 a barrel at 0156 GMT, adding Read More
Oil prices climbed on Thursday, reversing previous losses, as a bigger-than-expected draw in U.S. gasoline and distillate stocks prompted buying. The uptick was also supported by expectations that soaring natural gas prices as winter approaches will drive a switch to oil to meet heating demand. Brent crude futures gained 67 cents, or 0.8%, to $83.85 Read More
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