Archive for Tag: Brent

Oil prices slip from 2014 highs, supply concerns limit losses

Brent Oil was trading 0.42% down at  $88.05. Oil slipped on Thursday as investors took profits following a month-long rally in prices, but strong demand and short-term supply disruptions continue to support prices close to their highest levels since late 2014. Brent crude futures fell 49 cents, or 0.6%, to...

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Brent crude futures

Oil highest since 2014 as Turkey outage adds to tight supply outlook

Brent Oil was trading 1.31% up at  $88.62. Oil prices rose for a fourth day on Wednesday as an outage on a pipeline from Iraq to Turkey increased concerns about an already tight supply outlook amid worrisome geopolitical troubles in Russia and the United Arab Emirates. Brent crude futures rose...

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Brent crude futures

Oil climbs on supply worries, limited Omicron impact

Brent Oil was trading 0.44% up at  $86.45. Oil prices rose on Monday, with Brent futures touching their highest in more than three years, as investors bet supply will remain tight amid restrained output by major producers with global demand unperturbed by the Omicron coronavirus variant. Brent crude futures gained...

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Crude futures

Commodity – Oil prices poised for fourth week of gains

Brent Oil was trading 1.10%up at $85.45. Oil futures rose on Friday and were set for a fourth week of gains, boosted by supply constraints and a weaker dollar, though an imminent release of crude reserves from China looms. Crude futures rose 85 cents, or 1%, to a two-month...

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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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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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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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Brent Crude futures

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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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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