Archive for Tag: crude oil futures price

Oil Mixed, Losses Capped by Solid U.S. Demand, Global Energy Crunch

Brent Oil was trading 0.65% down at  $85.27. Oil was mixed Thursday morning in Asia, giving up some earlier gains as some investors scooped up profits from a recent rally. However, solid demand in the U.S. and a switch to fuel oil from coal and gas amid a global coal...

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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...

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OPEC+ seen sticking to policy despite higher oil demand

Crude Oil WTIwas trading 0.11% up at $68.61. OPEC and its allies will likely stick to their existing policy of gradual oil output increases despite revising up the 2022 demand outlook and facing U.S. pressure to raise production more quickly, four sources said on Wednesday. The Organization of the...

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Oil drops as Hurricane Ida weakens, OPEC in focus

Brent Crudewas trading 0.17% up at $71.82. Oil prices dropped from a four-week high on Monday as Hurricane Ida weakened after forcing precautionary shutdowns of U.S. Gulf oil production, and attention turned to an OPEC meeting on Wednesday to discuss a further output boost. Within 12 hours of coming...

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Oil steadies near $71 after two-day rally

Brent Crudewas trading 0.27% up at $70.60. Oil prices steadied near $71 a barrel, taking a breather after a strong rally in recent days as Mexico was set to resume crude production following a major outage. Brent Crudewas up 14 cents, or 0.2%, to $71.19 a barrel by 1028...

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Oil rises but set for 5% weekly drop as Delta variant spreads

Brent Oilwas trading 0.47% down at $66.14. Oil prices steadied on Friday, clambering away from three-month lows, but they were still on track for a weekly loss of more than 5% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel...

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