Archive for Tag: Brent Crude oil Prices

Oil prices fall back on concerns over COVID-19 cases

Brent Oilwas trading 0.59% Down at $69.20. Oil prices fell on Tuesday, paring earlier gains, as expectations that major producers will not boost supply any time soon were outweighed by worries over slowing demand amid a spike in the Delta variant of coronavirus infections. Brent Crudewas down 51 cents,...

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Oil prices drop amid faltering demand outlook in China

Brent Oilwas trading 1.60% Down at $69.46. Oil prices fell more than 1% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indicator that fresh COVID-19 outbreaks are crimping the world’s no.2 economy. Brent Crude was...

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Oil prices steady after U.S. call for more oil raises supply concerns

Brent Oilwas trading 0.22% Down at $71.26. Oil prices were steady on Thursday following two days of gains after a call from the United States, the world’s top oil consumer, for major producers to boost output reinforced supply concerns as economies ease their coronavirus restrictions. They were also boosted...

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Oil drops on report White House to ask OPEC to pump more

Brent Oilwas trading 1.02% Down at $69.88. Oil fell below $70 a barrel on Wednesday, pressured by a CNBC report that the White House will call on OPEC and its allies to boost production in an effort to combat climbing gasoline prices. The price of Brent Crudeis up 35%...

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Oil drops towards $70 as virus concerns weigh

Brent Oil was trading 0.04% down at  $70.43. Oil prices declined towards $70 a barrel on Thursday as more countries imposed fresh movement restrictions to counter a surge in COVID-19 cases, though Middle East tensions offered support. Japan is poised to expand emergency restrictions to more prefectures while China,...

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Oil rises as markets expect continuous fall of inventories

Brent Oil was trading 0.36% up at $73.25. Oil rose on Tuesday on expectation of a continuous decline in U.S. oil inventories, recouping some losses from the previous session due to lingering concern over rising cases of the Delta coronavirus variant. Brent, the international benchmark for oil prices, rose...

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Oil prices fall on worries over China economy and higher crude output

Brent Oil was trading 1.37% down at $74.39. Oil prices fell on Monday on worries over China’s economy after a survey showed growth in factory activity slipped sharply in the world’s second-largest oil consumer, with concerns compounded by a rise in oil output from OPEC producers. Brent Crude Oil...

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Oil Down, but on Path for Weekly Gains Thanks to Strong Demand

Brent Oil was trading 0.41% down at $74.80. Oil was down Friday morning in Asia but was set to post solid gains as the week and month wraps up. Fuel demand is growing faster than supply, while vaccination rates dampened the impact of a resurgence in COVID-19 cases globally. Brent...

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Oil Up, U.S. Crude Oil Supplies Drop to Lowest Level Since January 2020

Brent Oil was trading 0.47% up at $74.22. Oil was up Thursday morning in Asia as the latest data showed a draw in U.S. crude oil supplies to their lowest level since January 2020. Brent Oil Futureswere up 0.34% to $74.12 by 11:43 PM ET (3:43 AM GMT) and...

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Oil Up Over Draw in U.S. Crude Supplies, but COVID-19 Remains Threat to Demand

Brent Oil was trading 0.35% up at $73.78. Oil was up Wednesday morning in Asia, boosted by a draw in U.S Crude supplies that reinforced expectations that fuel demand will outstrip supply growth. However, increasing numbers of COVID-19 cases globally capped the black liquid’s gains. Brent Oil Futures gained...

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