Archive for Tag: Heating oil trade suggestion

Brent Oil

Suez Canal shipping backlog ends, days after giant vessel freed

Brent was trading 0.03% up at $64.67. All ships stranded by the grounding of the giant container ship Ever Given in the Suez Canal in March had passed through the canal by Saturday, ending the backlog that built up during the blockage, the canal authority said. The last 61...

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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 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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