Archive for Tag: crude oil news

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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Commodity – Oil prices rise on expected U.S. stocks draw

Brent Oil was trading 1.36% upat $75.34. Oil prices climbed more than $1 on Wednesday, extending overnight gains after industry data showed U.S Crudestocks fell more than expected last week in the wake of two hurricanes, highlighting tight supply as demand improves. Prices were also supported as some OPEC...

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Oil hits 6-week high as U.S. Gulf braces for another hurricane

Brent Oil was trading 0.64% up at $73.98. Oil prices hit a six-week high on Tuesday as another hurricane threatened to bring heavy rain to Texas and parts of Louisiana that were still recovering from Ida, and as the International Energy Agency forecast a big demand rebound for the...

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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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