Archive for Tag: Brent Crude Oil

Brent Crude futures

Oil holds above $75 as storm-hit U.S. supply returns slowly

Brent Oil was trading 0.46% down at $75.34. Brent oil futures dipped on Friday but held above $75 a barrel, remaining on track for weekly gains of more than 3% thanks to the slow recovery in output after two hurricanes in the U.S. Gulf of Mexico. Brent Crudefutures fell...

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Brent Oil

Oil prices climb after drawdown in stocks, positive demand outlook

Brent Oil was trading 0.78% up at $74.37. Oil prices climbed on Wednesday after industry data showed a larger than expected drawdown in crude oil stocks in the United States, the world’s largest oil consumer, and on expectations that demand will recover as vaccine roll-outs widen. But a fall...

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Brent Crude Oil Price

Oil hits 6-week high as U.S. Gulf braces for another hurricane

Brent Oil was trading 0.64% up at $73.98. Oil prices hit a six-week high on Tuesday as another hurricane threatened to bring heavy rain to Texas and parts of Louisiana that were still recovering from Ida, and as the International Energy Agency forecast a big demand rebound for the...

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Brent Crude futures

Oil climbs on slow return of U.S. supply after Hurricane Ida

Brent Oil was trading 0.04% up at $71.72. Oil prices climbed on Wednesday, recouping some overnight losses from a stronger dollar and demand concerns, with a slow production restart in the U.S. Gulf of Mexico and resumption of refining activities providing support. U.S. West Texas Intermediate (WTI) crude futures...

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Brent Oil

Market Outlook – Oil rises on demand outlook, Gulf outages

Brent Oil was trading 0.03% down at  $72.24. The head of Russia’s No. 2 oil producer Lukoil said that oil prices of $65-$75 were “comfortable” for consumers and that the OPEC+ group of leading oil-producing nations was striving to maintain that price range by regulating output. In an interview...

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Brent Oil

COMMODITY – Oil rises on demand outlook, Gulf outages

Brent Oil was trading 0.60% up at $73.47. Oil prices rose on Friday as a rebound in global demand was widely expected and a slow recovery for the U.S. Gulf Coast export and refining hub from the hurricane earlier this week looked set to deplete stocks further. BRENT CRUDE...

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Crude Oil WTI

OPEC+ seen sticking to policy despite higher oil demand

Crude Oil WTIwas trading 0.11% up at $68.61. OPEC and its allies will likely stick to their existing policy of gradual oil output increases despite revising up the 2022 demand outlook and facing U.S. pressure to raise production more quickly, four sources said on Wednesday. The Organization of the...

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Brent Crude Oil

Oil edges lower as U.S. pushes OPEC to pump more

Brent Crudewas trading 0.72% down at $71.71. Oil slipped on Tuesday as OPEC and allies geared up for a meeting on Wednesday amid calls from the United States to pump more crude, although Brent still traded well above $70 per barrel. Prices were also under pressure from concerns that...

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Brent Crude oil

Oil drops as Hurricane Ida weakens, OPEC in focus

Brent Crudewas trading 0.17% up at $71.82. Oil prices dropped from a four-week high on Monday as Hurricane Ida weakened after forcing precautionary shutdowns of U.S. Gulf oil production, and attention turned to an OPEC meeting on Wednesday to discuss a further output boost. Within 12 hours of coming...

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