Archive for Tag: market news

Oil prices fall as global Omicron surge clouds fuel demand view

Brent Oil was trading 0.22% up at $84.48. -Oil prices slipped on Thursday, trimming big gains from the previous two sessions, amid uncertainty over near-term demand as cases of the highly contagious Omicron variant of the coronavirus surge around the globe. U.S. West Texas Intermediate (WTI) crude futures slipped...

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Oil prices shrug off Omicron slump, soar to 2-month highs

Brent Oil was trading 0.44% up at $82.48. Oil prices hit two-month highs on Wednesday on tight supply and easing concerns about the potential hit to demand from the Omicron coronavirus variant. Federal Reserve Chairman Jerome Powell said on Tuesday the economy of the United States, the world’s biggest...

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Oil rises to $82 as demand recovery seen on track

Brent Oil was trading 1.16% down at $82.05. Oil rose to around $82 a barrel on Tuesday, supported by tight supply and hopes that rising coronavirus cases and the spread of the Omicron variant will not derail a global demand recovery. OPEC supply additions are running below their allowed...

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Oil prices steady ahead of OPEC+ meeting

Brent Oil was trading 0.70% Up at $79.53. Oil prices were largely steady on Tuesday as investors expected major producers to agree to stick to their planned output increase at their meeting later in the day amid diminishing concerns over the spread of the Omicron variant of COVID-19. Brent...

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Oil rebounds more than $1/bbl after Saudi price hike

Brent Oil was trading 0.75% down at $75.13. Top energy executives this week urged a more cautious transition of energy policy away from oil and gas, but a U.S. Energy Department official said the industry has a moral obligation to address climate change and the economic opportunity it represents....

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Oil climbs as investors focus on looming OPEC+ decision

Brent Oil was trading 1.67% up at $70.00. Climbing oil prices on Thursday erased the previous day’s losses, with investors adjusting positions ahead of an OPEC+ decision on supply policy, though gains were capped by fears that the Omicron coronavirus variant could hit fuel demand. Brent crude futures rose...

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OPEC+ starts two days of talks amid oil price gyrations, Omicron fears

Brent Oil was trading 3.43% up at $73.70. OPEC and its allies begin two days of meetings on Wednesday to decide whether to release more oil into the market or restrain supply amid big gyrations in crude prices and uncertainty about the impact of the Omicron coronavirus variant on...

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Oil rises as investors look past possible reserve releases

Brent Oil was trading 0.74% down at $81.87. Oil prices rose on Friday, after wild swings the day before, on investor concerns that potential coordinated releases by the world’s major economies of their official crude reserves to try to lower prices may have less of an impact than expected....

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Oil prices on track for weekly dip as dollar firms

Brent Oil was trading 0.52% down at $82.41. Oil prices fell on Friday, wiping out gains from the previous session, as the dollar continued to gain on bets the U.S. central bank will bring forward plans to raise rates to tame inflation. U.S. West Texas Intermediate (WTI) crude futures...

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Oil Rally Slows as U.S. Hints at Actions to Quell Rising Prices

Brent Oil was trading 0.41% up at $83.77. Oil eked out a gain as Saudi Arabia is raising prices, but the rally cooled after the U.S. signaled measures to ease oil and gasoline prices. Futures in New York closed 0.8% higher, paring gains of as much as 1.7% earlier...

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