Archive for Tag: OIL Market Outlook

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 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 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...

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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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