Archive for Tag: crude oil news

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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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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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 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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Crude oil prices steady near multi-year highs

Brent Crudewas trading 0.65% down at $73.90. Crude oil prices hovered near multi-year highs on Thursday buoyed by dropping U.S Crude inventories and broadly shrugging off a stronger U.S. dollar. Brent Crude Oil futures dropped 20 cents, or 0.2%, to $74.19 a barrel by 1156 GMT. They hit their...

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Oil gains as risk of Iran supply resumption recedes

Brent Crudewas trading 0.80% up at $73.44. Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran. Brent...

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