Archive for Tag: oil market

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 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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