Archive for Tag: brent crude 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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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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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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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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Oil jumps as storm approaches Gulf of Mexico production hub

Brent Crudewas trading 0.87% down at $70.64. Oil prices rose on Friday and are on track to post big gains for the week on worries about supply disruptions as energy companies began shutting production in the Gulf of Mexico ahead of a possible hurricane forecast to hit on the...

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