Archive for Tag: OIL Market Outlook

Oil rises above $111 as Ukraine conflict offsets Iran supply hope

Brent Crude was trading up 2.04% at $112.62 Oil rose above $111 a barrel on Friday in a volatile session as fears over disruption to Russian oil exports in the face of Western sanctions offset the prospect of more Iranian supplies in the event of a nuclear deal with...

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Oil prices take breather as Russia advances further on Ukraine

Brent Crude was trading up 0.89% at $94.39 Oil prices slipped on Friday, after sharp rises in the session, on concern over potential global supply disruptions from sanctions on major crude exporter Russia. The April Brent crude futures contract was down 33 cents, or 0.3%, to $98.75 a barrel...

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Oil tops $100, gas, grains, metals spike as Russia invades Ukraine

Brent Crude was trading up 6.95% at $100.59 Global commodity prices jumped towards multi-year highs on Thursday as Russia launched a full scale invasion of Ukraine, with prices responding in knee-jerk fashion despite steady export flows of Russian oil, gas, grains and metals to the West. Oil prices rose...

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Oil heads for weekly fall on Iranian oil hopes

BRENT CRUDE OIL was trading down 1.83% at $91.22 Oil prices extended losses on Friday and were heading for a weekly fall as the prospect of increased Iranian oil exports eclipsed fears of potential supply disruption resulting from the Russia-Ukraine crisis. Brent crude futures fell $2.44, or 2,6%, to...

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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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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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Global jet fuel demand under pressure from Omicron, border curbs

Brent Oil was trading 2.43% down at $71.70. Global jet fuel markets stayed under pressure on Tuesday as more countries expanded border restrictions to keep the new Omicron coronavirus variant at bay, prompting travellers to reconsider their plans. Jet fuel demand – the biggest laggard in the oil complex...

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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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