Archive for Tag: crude oil wti

Oil prices

Oil prices off 7-week lows but under pressure as release of reserves eyed

Brent Oil was trading 0.74%down at $81.87. Oil prices came off seven-week lows on Monday but remained under pressure after Japan said it was weighing releasing oil reserves and as the COVID-19 situation in Europe worsened, raising concerns about both oversupply and weak demand. Brent lost 26 cents, or...

Read More
WTI crude futures

Oil slips after API data shows U.S. inventory build-up

Brent Oil was trading 1.89% downat $83.11. Oil prices fell on Wednesday as industry data pointed to a big build in crude oil and distillate stocks in the United States, the world’s largest oil consumer, and as pressure mounted on OPEC to increase supply. Brent crude futures were down...

Read More
Brent Crude Oil News

Oil rally resumes as OPEC+ seen keeping supply tight

Brent Oil was trading 0.48% upat $84.03. Oil rose further above $84 a barrel on Friday, within sight of a multi-year high hit this week, as expectations OPEC and its allies will keep supply tight countered rising U.S. inventories and the prospect of more Iranian exports. Algeria said on...

Read More

Oil drops more than 1% as U.S. stockpiles sap rally

Brent Oil was trading 1.19% down at $84.64. Oil prices fell on Wednesday after industry data showed crude oil stockpiles rose more than expected and fuel inventories increased unexpectedly last week in the United States, the world’s largest oil consumer. Brent Oil Futures fell $1.01 cents, or 1.2%, to...

Read More
Brent oil futures

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...

Read More
Brent crude futures

Oil prices scale $85/bbl on back of supply deficit

Brent Oil was trading 0.79% up at  $84.76. Oil prices hit a fresh three-year high on Friday, climbing above $85 a barrel on forecasts of a supply deficit over the next few months as rocketing gas and coal prices stoke a switch to oil products. Brent crude futures were up 80...

Read More