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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 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 Tuesday as investors expected OPEC+ producers meeting on output to stick with their planned increase for February based on indications Omicron would have only a mild impact on demand. Brent crude was up 48 cents, or 0.6%, at $79.46 a barrel at 1310 GMT, while U.S. West Texas Intermediate (WTI) crude Read More

Oil prices rose on Monday due to hopes that the Omicron COVID-19 variant will have a limited impact on global demand in 2022, even as U.S. crude came under pressure from flight cancellations amid surging cases. More than 1,300 flights were cancelled by U.S. airlines on Sunday as COVID-19 reduced the number of available crews Read More

Oil prices rose again on Wednesday as the dollar slipped, with risk appetite returning as some governments resist imposing lockdowns to curb the spread of the omicron Covid-19 variant and as China said it would be able to sustain economic growth. U.S. West Texas Intermediate (WTI) crude futures rose 50 cents, or 0.7%, to $71.62 a barrel at Read More

Oil prices rose on Thursday as U.S. implied consumer petroleum demand surged to a record high in the world’s top oil consumer even as the omicron variant of coronavirus threatens to dent oil consumption globally. A signal by the U.S. Federal Reserve to tackle inflation before it derails the U.S. economy also boosted prices. Brent crude oil futures rose by 80 cents, or 1.1%, Read More

Oil prices extended gains on Thursday on confidence that the omicron coronavirus variant would not dent global growth, even as some governments stepped up curbs to stop its rapid spread. U.S. West Texas Intermediate (WTI) crude futures rose 28 cents, or 0.4%, to $72.64 a barrel at 0201 GMT, adding to a 0.4% gain in the previous session. 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 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 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

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 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

comexlive Chart as on 26 Oct 2021

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