Archive for Tag: Brent Oil outlook

Oil hits multi-year high on OPEC+ restraint amid global energy crunch

Brent Oil was trading 1.24% up at $82.26. Oil hit a multi-year high on Wednesday above $83 a barrel, supported by OPEC+’s refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally. The market later unwound those gains due to an American...

Read More

Oil shrugs off higher U.S. crude stocks, strong dollar

Brent Oil was trading 0.69% down at $77.56. Oil prices held steady on Thursday after rising above $80 a barrel this week, shrugging off bearish factors such as rising U.S. crude oil inventories and a strong dollar amid consensus that a supply deficit will stay for coming months. Brent...

Read More

Oil Down Over Surprise Build in U.S. Crude Oil Supplies, Possible U.S. Default

Brent Oil was trading 0.74% downat $77.80. Oil was down Wednesday morning in Asia as investors digested a surprise integration of U.S. petroleum supplies. Brent oil futures slid 1.47% to $77.20 by 12:31 AM ET (4:31 AM GMT) and WTI futures fell 1.53% to $74.14. U.S. petroleum supply data...

Read More

Oil climbs for sixth day on supply concerns, Brent tops $80

Brent Oil was trading 0.86% up at $79.39. Oil markets climbed for a sixth day on Tuesday, reversing earlier losses, on fears over tight supply while surging prices of liquefied natural gas (LNG) and coal also lent support. Brent Crude futures gained $1.05, or 1.3%, to $80.58 a barrel...

Read More

Oil heads for third week of gains as output stumbles

Brent Oil was trading 0.10% downat $77.16. Oil prices steadied on Friday near a two-month high above $77 a barrel and were headed for a third straight week of gains, supported by global output disruptions and inventory draws. The rally was slightly dampened by China’s first public sale of...

Read More

Oil prices rise on expected U.S. stocks draw

Brent Oil was trading 0.50% down at $75.69. Oil prices extended gains on Thursday, riding higher on growing fuel demand and a bigger-than-expected draw in U.S Crude inventories as production remains hampered in the Gulf of Mexico after two hurricanes. Brent Crude rose 9 cents, or 0.1%, to $76.28...

Read More