Archive for Tag: Brent Oil Futures

Oil Prices

Oil Up, But Heads Towards Big Weekly Decline Over COVID-19, OPEC+ Deal Uncertainty

Brent Oil was trading 0.11% up at $73.55 Oil was up Friday morning in Asia, but was headed towards the biggest weekly decline since mid-March 2021. Worsening outbreaks of COVID-19 involving the Delta variant in some countries and uncertainty over an OPEC deal to boost supply clouded the short-term...

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Crude Oil WTI

Nigerian senate approves finalised petroleum overhaul bill

Crude Oil WTI was trading 1.03% down at $72.38 Nigeria’s senate approved a reconciled version of a bill on Thursday aimed at attracting billions in investment to its ageing oil sector, capping a two-decade bid for reforms, just as investors begin to look beyond fossil fuels. The overhaul governs...

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Commodity Markets Outlook

Oil Up, Investors Digest Fifth Week of U.S. Crude Stockpile Draws

Brent Crude was trading 0.16% up at $75.36. Oil was up Wednesday morning in Asia as a strong economic rebound of key consumers boosted fuel demand and drained bloated inventories. Investors now await an Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting for clues on production policy....

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Commodity Markets Outlook

Oil Up Boosted by Key Markets, Ahead of OPEC+ Meeting

Brent Crude was trading 0.56% up at $75.34. Oil was up Wednesday morning in Asia as a strong economic rebound of key consumers boosted fuel demand and drained bloated inventories. Investors now await a Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting for clues on production policy....

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Commodity Markets Outlook

Crude oil prices steady near multi-year highs

Brent Crudewas trading 0.65% down at $73.90. Crude oil prices hovered near multi-year highs on Thursday buoyed by dropping U.S Crude inventories and broadly shrugging off a stronger U.S. dollar. Brent Crude Oil futures dropped 20 cents, or 0.2%, to $74.19 a barrel by 1156 GMT. They hit their...

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Brent Crude oil Prices

Oil hits new high near $75 on demand rise, falling inventories

Brent Crudewas trading 0.54% up at $74.37. Oil gained for a fifth day on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in U.S Crude inventories. The American Petroleum Institute reported U.S. crude...

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OPEC+ will need to boost output to meet 2022 demand recovery – IEA

Brent Oilwas trading 0.33% up at $72.75. The world will need a lot more oil from OPEC+ as global demand is on track to return to pre-pandemic levels at the end of next year, the International Energy Agency said on Friday, just a few weeks after saying long-term oil...

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Crude Oil WTI

Oil prices rebound after knock from U.S. driving season data

Crude Oil WTIwas trading 0.13% up at $70.04. Oil prices rose on Thursday a day after slipping on data indicating weak U.S. driving season fuel demand as investors eyed upcoming U.S. economic data. Brent Crude Oil futures were up 18 cents, or 0.25%, at $72.40 a barrel by 1024...

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Crude Oil

Iran Sees Most Oil Output Back One Month After Sanctions Removal

Crude Oil WTIwas trading 0.39% up at $70.32. Iran plans to restore the bulk of its Crude Oilproduction within one month of the easing of U.S. sanctions if world powers manage to broker the revival of the 2015 nuclear deal, the official Shana news agency reported, quoting an official...

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Brent Crude Oil Prices

Oil eases on Iran concern after hitting two-year high above $72

Brent Crude was trading 0.29% down at $71.68. Oil eased after hitting a two-year high above $72 a barrel on Monday, pressured by the prospect of higher Iranian exports though recovering demand and OPEC+ supply curves provided underlying support. Demand is rising in the United States and Europe as...

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