Archive for Tag: Brent Crude Oil futures

Brent Crude futures

Oil rebounds on speculation OPEC+ may pause output increase

Brent Oil was trading 4.68%up at $74.87. Oil prices rebounded on Monday as investors looked for bargains after Friday’s slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the mood remained cautious with little known about the new variant....

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Brent Crude futures

Oil drops as U.S. gasoline stock draw boosts prospects of SPR release

Brent Oil  was trading 1.19% down at  $81.39. Oil fell on Wednesday after an industry report showed U.S. gasoline stocks dropped more than expected last week, potentially heightening pressure on the Biden administration to release oil from emergency reserves to cap soaring fuel prices. U.S. West Texas Intermediate (WTI) crude...

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Brent Crude Oil

Oil rises on tight inventories, demand worries limit gains

Brent Oil was trading 0.53%up at $82.61. Oil prices rose on Tuesday, supported by the prospect of tight inventories across the globe, although the gains were capped by forecasts of an increase in global production in coming months and concerns over rising coronavirus cases in Europe. Brent Crude was...

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Brent Oil trading

Oil industry calls for inclusivity under climate efforts

Brent Oil was trading 1.59% down at  $80.81. Energy producers gathered in Abu Dhabi following the COP26 U.N. climate talks called on Monday for greater inclusivity that would see more investment in hydrocarbons for energy security as they work to reduce emissions while developing their economies. The world could not...

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Brent Crude Oil

Oil gains after U.S. passes infrastructure bill, Chinese exports rise

Brent Oil was trading 1.08%up at $83.62. Oil prices rose on Monday on the back of positive signs for global economic growth, supporting energy demand, while Saudi Arabia’s state-owned producer Aramco raised the official selling price for its crude. Brent Crudewas up by 84 cents or 1% at $83.58...

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Brent Crude Oil

Oil steadies near $85 as supply lags, U.S. inventories eyed

Brent Oil was trading 0.25% downat $84.50. 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...

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Brent crude futures

Oil prices extend gains to multi-year highs on tight supply

Brent Oil was trading 0.72% upat $85.25. Oil prices climbed on Monday, extending pre-weekend gains to hit multi-year highs as global supply remained tight amid solid fuel demand in the United States and elsewhere in the world as economies pick up from coronavirus pandemic-induced slumps. U.S. West Texas Intermediate...

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Brent Oil

COMMODITY – Oil prices rise on China energy demand concerns

Brent Oil was trading 0.84% upat $85.06. Oil prices rose on Tuesday as a supply crunch in natural gas, electricity and coal continued across the globe while falling temperatures in China revived concerns over whether the world’s biggest energy consumer can meet domestic demand for heating. The Brent Crude...

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Brent Crude Oil futures

Oil prices climb as COVID recovery, power generators stoke demand

Brent Oil was trading 0.92% up at  $85.64.  Oil prices hit multi-year highs on Monday buoyed by recovering demand and high natural gas and coal prices encouraging users to switch to fuel oil and diesel for power generation. Brent Crude Oilfutures were up 93 cents, or 1.1%, to $85.79 a barrel...

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