Archive for Tag: OIL Market News

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

Oil drops as China considers intervention to ease coal crunch

Brent Oil was trading 0.98% down at $84.25. Oil prices fell on Wednesday after the Chinese government stepped up efforts to tame record high coal prices and ensure coal mines operate at full capacity as Beijing moved to ease a power shortage. Brent Oil futures dropped 73 cents, or...

Read More

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...

Read More
oil

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...

Read More

Oil Up, Remains Above $75 Mark, as Market Continues to Tighten

Brent Oil was trading 0.10% down at $77.16. Oil was up Monday morning in Asia, starting the week off strong over signs that the crude market is tightening thanks to the global energy crunch. Brent oil futures rose 1.20% to $78.16 by 10:36 PM ET (2:36 AM GMT) and...

Read More

Oil prices rise on expected U.S. stocks draw

Brent Oil was trading 0.50% down at $75.69. Oil prices extended gains on Thursday, riding higher on growing fuel demand and a bigger-than-expected draw in U.S Crude inventories as production remains hampered in the Gulf of Mexico after two hurricanes. Brent Crude rose 9 cents, or 0.1%, to $76.28...

Read More

Oil dips, pares back only some of sharp gains made on U.S. stocks drawdown

Brent Oil was trading 0.13% down at $75.37. Oil prices slipped on Thursday, paring back only some of the large gains made the previous day on the back a larger-than-expected drawdown in crude oil stocks in the United States. Brent oil fell 12 cents, or 0.2%, to $75.34 a...

Read More
Brent Crude Oil Price

Oil hits 6-week high as U.S. Gulf braces for another hurricane

Brent Oil was trading 0.64% up at $73.98. Oil prices hit a six-week high on Tuesday as another hurricane threatened to bring heavy rain to Texas and parts of Louisiana that were still recovering from Ida, and as the International Energy Agency forecast a big demand rebound for the...

Read More