Archive for Tag: market outlook

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 prices steady after falling on signs U.S. may release more reserves

Brent Oil was trading 0.06% down at $82.58. Oil prices were steady on Thursday after falling in the previous session on concerns rising inflation in the United States, spurred by climbing energy costs, may prompt the government to release more strategic crude stockpiles to drive down prices. On Wednesday,...

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Oil rises on surprise U.S. crude stockpile decline

Brent Oil was trading 0.48% up at $85.15. Oil prices rose on Wednesday, extending strong gains in the previous session, after industry data showed U.S Crude stocks unexpectedly fell last week just as near-term travel demand picked up with COVID-19 pandemic curbs easing. Brent crude futures were at $85.22...

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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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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...

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Oil hits multi-year high on OPEC+ restraint amid global energy crunch

Brent Oil was trading 1.24% up at $82.26. Oil hit a multi-year high on Wednesday above $83 a barrel, supported by OPEC+’s refusal to ramp up production more rapidly against a backdrop of concern about tight energy supply globally. The market later unwound those gains due to an American...

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Google wants to use AI to time traffic lights more efficiently

Alphabet (NASDAQ:GOOGL) Inc is trading up 1.77% at 2720.46 Alphabet (NASDAQ:GOOGL) Inc’s Google cut fuel use and traffic delays by 10% to 20% at four locations in Israel by using artificial intelligence to optimize signal lights and it next plans to test the software in Rio de Janeiro, the...

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Oil hits fresh 3-year high after OPEC+ stays course on output plan

Brent Oil was trading 1.42% up at $82.46. Brent Crude was up 15 cents or 0.2% at $79.43 per barrel by 1215 GMT. It rose 1.5% last week, its fourth weekly gain in a row. U.S. oil rose 6 cents or 0.1% to $75.94, after gaining for the past...

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Oil climbs for sixth day on supply concerns, Brent tops $80

Brent Oil was trading 0.86% up at $79.39. Oil markets climbed for a sixth day on Tuesday, reversing earlier losses, on fears over tight supply while surging prices of liquefied natural gas (LNG) and coal also lent support. Brent Crude futures gained $1.05, or 1.3%, to $80.58 a barrel...

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