Archive for Tag: brent oil price

Brent Oil

OPEC+ expected to stick with planned Feb output increase, sources say

Brent Oil was trading 1.23%Up at $78.77. OPEC+ is expected to stick to its plans for a February output increase when it meets on Tuesday, predicting a mild and short-lived impact on demand from the Omicron coronavirus variant, three sources from the group of oil producers told Reuters on...

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Brent Crude futures

Oil prices ease, focus shifts to next OPEC+ move

Brent Oil was trading 0.10%down at $76.52. Brent crude futures snapped a three-day rally on Friday in light trading before the Christmas holidays but the benchmark was still headed for a weekly gain, with the market focusing on next steps by OPEC+ and the impact of the Omicron variant....

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Market Outlook

Oil prices steady as Omicron worries linger

Brent Oil was trading 1.09%down at $72.28. Oil prices steadied on Tuesday after a sharp fall in the previous session as investors worried about the rapid spread of the Omicron coronavirus variant and the impact of renewed restrictions on fuel demand. Brent Crudewas down 8 cents, or 0.1%, at...

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Brent Oil

Oil prices slip 1% on bets that crude supply growth will exceed demand

Brent Oil was trading 1.17% down at  $72.80. Oil prices fell for a third day straight on Wednesday on growing expectations that supply growth will outpace demand growth next year, even though the Omicron coronavirus variant is not seen curbing mobility as sharply as earlier COVID-19 variants. U.S. West Texas...

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Oil rebounds more than $1/bbl after Saudi price hike

Brent Oil was trading 0.75% down at $75.13. Top energy executives this week urged a more cautious transition of energy policy away from oil and gas, but a U.S. Energy Department official said the industry has a moral obligation to address climate change and the economic opportunity it represents....

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Brent Oil

Oil rebounds more than $1/bbl after Saudi price hike

Brent Oil was trading 1.63%up at $74.13. Top energy executives this week urged a more cautious transition of energy policy away from oil and gas, but a U.S. Energy Department official said the industry has a moral obligation to address climate change and the economic opportunity it represents. Executives...

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Brent Crude futures

Oil rises as OPEC+ poised to act if demand weakens

Brent Oil was trading 2.78%up at $71.63. -Oil prices climbed on Friday after the producer group OPEC+ said it could review its production hike policy at short notice if oil demand collapsed due to a rising number of lockdowns, while Brent was on course for a sixth week of...

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Oil rebounds on speculation OPEC+ may pause output increase

Brent Oil was trading 4.68%up at $74.87. Oil prices rebounded on Monday as investors looked for bargains after Friday’s slump and on speculation that OPEC+ may pause an output increase in response to the spread of Omicron, but the mood remained cautious with little known about the new variant....

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Asia looks at SPR shock treatment for high oil prices after U.S. request

Brent Oil was trading 0.45%down at $79.97. Some of the world’s biggest crude oil buyers said on Thursday they are looking at tapping strategic oil reserves after several sources told Reuters the United States had requested a coordinated move to cool global energy prices. Oil prices are down around...

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Oil drops as U.S. gasoline stock draw boosts prospects of SPR release

Brent Oil  was trading 1.19% down at  $81.39. Oil fell on Wednesday after an industry report showed U.S. gasoline stocks dropped more than expected last week, potentially heightening pressure on the Biden administration to release oil from emergency reserves to cap soaring fuel prices. U.S. West Texas Intermediate (WTI) crude...

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