Archive for Tag: Brent Oil Trading

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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Oil rises on tight inventories, demand worries limit gains

Brent Oil was trading 0.53%up at $82.61. Oil prices rose on Tuesday, supported by the prospect of tight inventories across the globe, although the gains were capped by forecasts of an increase in global production in coming months and concerns over rising coronavirus cases in Europe. Brent Crude was...

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Oil industry calls for inclusivity under climate efforts

Brent Oil was trading 1.59% down at  $80.81. Energy producers gathered in Abu Dhabi following the COP26 U.N. climate talks called on Monday for greater inclusivity that would see more investment in hydrocarbons for energy security as they work to reduce emissions while developing their economies. The world could not...

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Oil gains after U.S. passes infrastructure bill, Chinese exports rise

Brent Oil was trading 1.08%up at $83.62. Oil prices rose on Monday on the back of positive signs for global economic growth, supporting energy demand, while Saudi Arabia’s state-owned producer Aramco raised the official selling price for its crude. Brent Crudewas up by 84 cents or 1% at $83.58...

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Oil steadies near $85 as supply lags, U.S. inventories eyed

Brent Oil was trading 0.25% downat $84.50. Oil steadied near $85 a barrel on Tuesday, not far from a multi-year high, supported by signs that supply from OPEC and other producers is falling short, although expectations of a rise in U.S. inventories was weighing. The increase in OPEC’s oil...

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Oil prices extend gains to multi-year highs on tight supply

Brent Oil was trading 0.72% upat $85.25. Oil prices climbed on Monday, extending pre-weekend gains to hit multi-year highs as global supply remained tight amid solid fuel demand in the United States and elsewhere in the world as economies pick up from coronavirus pandemic-induced slumps. U.S. West Texas Intermediate...

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