Archive for Tag: HEATING OIL Market News

Brent Crude

Oil falls as demand concerns outweigh Suez Canal disruptions

Brent Crude was trading 1.40% down at $63.48. Oil prices fell on Thursday as a new round of coronavirus restrictions in Europe revived worries about demand for oil products, even as tug boats struggled to move a stranded container ship blocking crude oil carriers in the Suez Canal. Brent...

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Oil prices

Oil prices rise after sell-off driven by demand fears

Brent Crude was trading 0.49% down at $62.94. Oil prices rose by more than $1 on Friday, after a big sell-off in the previous session as a new wave of coronavirus infections across Europe triggered fresh lockdowns and dampened expectations of any imminent recovery in fuel demand. Brent Crudewas...

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Brent Crude

Oil slips for fourth day on Europe demand concern, IEA report

Brent Crude was trading 0.85% down at $67.82. Oil slipped for a fourth day on Wednesday as concerns about weaker demand in Europe outweighed an industry report that showed U.S Crude stockpiles unexpectedly fell last week. Several European countries have paused the use of AstraZeneca ‘s COVID-19 vaccine due...

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Resurgence in COVID-19 cases slows oil demand rebound -IEA

Oil demand recovery will take a hit from a spike in new coronavirus cases before vaccine roll-outs and stimulus measures help in the second half of the year, International Energy Agency (IEA) said on Tuesday. “Border closures, social distancing measures and shutdowns…will continue to constrain fuel demand until vaccines...

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U.S. shale producers lock in future sales as oil prices rise to one-year high

U.S. shale producers are taking advantage of the oil market’s rally to levels not seen in nearly a year by locking in prices for future sales, sources familiar with the matter said. US CRUDEfutures this month jumped above $50 a barrel to the highest since February. The rally has...

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OIL STEADIES AS U.S. INVENTORY FALL TEMPERS DEMAND WOES

Oil prices steadied after an early jump on Wednesday as industry data showing a bigger-than-expected drop in U.S.CRUDEinventories, but rising global COVID-19 infections capped price gains. BRENT CRUDEprices were down 4 cents at $56.54 a barrel by 1032 GMT. Prices rose to a session high of $57.42 a barrel...

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Oil falls on renewed lockdowns, stronger dollar

Brent Crude Oil prices fell as much as $1 per barrel on Monday, hit by renewed concerns about global fuel demand amid tough coronavirus lockdowns across the globe, as well as a stronger U.S. dollar. Brent was down 80 cents, or 1.4%, at $55.19 a barrel at 1010 GMT,...

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Oil gains with supply constraints in focus after Saudi cuts

Oil prices rose almost 1% on Thursday after a fall in U.S. stockpiles added further support following the unilateral decision by Saudi Arabia, the world’s biggest exporter, to cut output over the next two months. It was not immediately clear how the storming of the U.S. Capitol by supporters...

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