Archive for Tag: oil prices per barrel

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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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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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...

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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...

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Brent Crude oil

Oil drops as Hurricane Ida weakens, OPEC in focus

Brent Crudewas trading 0.17% up at $71.82. Oil prices dropped from a four-week high on Monday as Hurricane Ida weakened after forcing precautionary shutdowns of U.S. Gulf oil production, and attention turned to an OPEC meeting on Wednesday to discuss a further output boost. Within 12 hours of coming...

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Brent Oil

Oil drops to below $66, lowest since May, on demand concerns

Brent Oilwas trading 3.22% down at $66.03. Oil dropped to below $66 a barrel on Thursday, its lowest since May, pressured by concerns about weaker demand as COVID-19 cases rise, a stronger U.S. dollar and a surprise increase in U.S. gasoline inventories. Circulation of the Delta variant in areas...

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Brent Crude

Oil prices drop amid faltering demand outlook in China

Brent Oilwas trading 1.60% Down at $69.46. Oil prices fell more than 1% on Monday, dropping for a third session, after official data showed that refining throughput and economic activity slowed in China in an indicator that fresh COVID-19 outbreaks are crimping the world’s no.2 economy. Brent Crude was...

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Oil prices

Oil prices steady after U.S. call for more oil raises supply concerns

Brent Oilwas trading 0.22% Down at $71.26. Oil prices were steady on Thursday following two days of gains after a call from the United States, the world’s top oil consumer, for major producers to boost output reinforced supply concerns as economies ease their coronavirus restrictions. They were also boosted...

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Brent Oil Price

Oil drops on report White House to ask OPEC to pump more

Brent Oilwas trading 1.02% Down at $69.88. Oil fell below $70 a barrel on Wednesday, pressured by a CNBC report that the White House will call on OPEC and its allies to boost production in an effort to combat climbing gasoline prices. The price of Brent Crudeis up 35%...

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Brent Crude Oil futures

Oil prices slip as Delta variant spread weighs

Brent Oil was trading 0.76% down at $71.82. Oil prices slipped on Wednesday as the spread of the coronavirus Delta variant in top consuming countries outweighed Mideast geopolitical tensions and a fall in U.S. inventories. Brent Crude Oilfutures were down 26 cents, or 0.4%, to $72.15 a barrel by...

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