Archive for Tag: BRENT OIL Trade Idea

Brent Crude Oil futures

Oil drops towards $70 as virus concerns weigh

Brent Oil was trading 0.04% down at  $70.43. Oil prices declined towards $70 a barrel on Thursday as more countries imposed fresh movement restrictions to counter a surge in COVID-19 cases, though Middle East tensions offered support. Japan is poised to expand emergency restrictions to more prefectures while China,...

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Brent Oil

Oil rises as markets expect continuous fall of inventories

Brent Oil was trading 0.36% up at $73.25. Oil rose on Tuesday on expectation of a continuous decline in U.S. oil inventories, recouping some losses from the previous session due to lingering concern over rising cases of the Delta coronavirus variant. Brent, the international benchmark for oil prices, rose...

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Oil prices

Oil prices fall on worries over China economy and higher crude output

Brent Oil was trading 1.37% down at $74.39. Oil prices fell on Monday on worries over China’s economy after a survey showed growth in factory activity slipped sharply in the world’s second-largest oil consumer, with concerns compounded by a rise in oil output from OPEC producers. Brent Crude Oil...

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Brent Oil Price

Oil Down, but on Path for Weekly Gains Thanks to Strong Demand

Brent Oil was trading 0.41% down at $74.80. Oil was down Friday morning in Asia but was set to post solid gains as the week and month wraps up. Fuel demand is growing faster than supply, while vaccination rates dampened the impact of a resurgence in COVID-19 cases globally. Brent...

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Brent Oil Price

Oil Up, U.S. Crude Oil Supplies Drop to Lowest Level Since January 2020

Brent Oil was trading 0.47% up at $74.22. Oil was up Thursday morning in Asia as the latest data showed a draw in U.S. crude oil supplies to their lowest level since January 2020. Brent Oil Futureswere up 0.34% to $74.12 by 11:43 PM ET (3:43 AM GMT) and...

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Oil Price

Oil Up Over Draw in U.S. Crude Supplies, but COVID-19 Remains Threat to Demand

Brent Oil was trading 0.35% up at $73.78. Oil was up Wednesday morning in Asia, boosted by a draw in U.S Crude supplies that reinforced expectations that fuel demand will outstrip supply growth. However, increasing numbers of COVID-19 cases globally capped the black liquid’s gains. Brent Oil Futures gained...

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Oil Prices

Oil Up, Hopes Rise that Vaccines, Tight Supply Will Offset COVID-19 Worries

Brent Oil was trading 0.15% up at $73.81. Oil was up Tuesday morning in Asia, with prices steadying from Monday’s fall. Investors are hoping that tight supply and rising vaccination rates will offset the impact of rising global COVID-19 cases on fuel demand. Brent Oil Futuresgained 0.37% to $73.97...

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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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