Archive for Tag: Oil Prices

Oil Prices

Oil Up, But Heads Towards Big Weekly Decline Over COVID-19, OPEC+ Deal Uncertainty

Brent Oil was trading 0.11% up at $73.55 Oil was up Friday morning in Asia, but was headed towards the biggest weekly decline since mid-March 2021. Worsening outbreaks of COVID-19 involving the Delta variant in some countries and uncertainty over an OPEC deal to boost supply clouded the short-term...

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Crude Oil WTI

Nigerian senate approves finalised petroleum overhaul bill

Crude Oil WTI was trading 1.03% down at $72.38 Nigeria’s senate approved a reconciled version of a bill on Thursday aimed at attracting billions in investment to its ageing oil sector, capping a two-decade bid for reforms, just as investors begin to look beyond fossil fuels. The overhaul governs...

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European Stock Markets

Oil rally helps energy stocks lead European shares higher

European shares ended higher on Thursday as a rally in crude prices saw energy stocks surge more than 2%, while strong earnings reports helped dispel some concerns over the infectious “Delta” variant of the coronavirus. The pan-European STOXX 600closed 0.6% higher at 455.63 points, with energy stocks marking their...

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market outlook

Oil Down Over Fuel Demand Concerns, Investors Await OPEC Meeting

BRENT OIL was trading 0.55% up at $73.73. Oil was down Tuesday morning in Asia, as the fast-spreading Delta variant of COVID-19 in some countries dimmed the fuel demand outlook. Investors also await an Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting later in the week. Brent...

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Commodity Markets Outlook

Oil Up, Investors Digest Fifth Week of U.S. Crude Stockpile Draws

Brent Crude was trading 0.16% up at $75.36. Oil was up Wednesday morning in Asia as a strong economic rebound of key consumers boosted fuel demand and drained bloated inventories. Investors now await an Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting for clues on production policy....

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Commodity Markets Outlook

Oil Up Boosted by Key Markets, Ahead of OPEC+ Meeting

Brent Crude was trading 0.56% up at $75.34. Oil was up Wednesday morning in Asia as a strong economic rebound of key consumers boosted fuel demand and drained bloated inventories. Investors now await a Organization of the Petroleum Exporting Countries and allies (OPEC+) meeting for clues on production policy....

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Commodity Markets Outlook

Crude oil prices steady near multi-year highs

Brent Crudewas trading 0.65% down at $73.90. Crude oil prices hovered near multi-year highs on Thursday buoyed by dropping U.S Crude inventories and broadly shrugging off a stronger U.S. dollar. Brent Crude Oil futures dropped 20 cents, or 0.2%, to $74.19 a barrel by 1156 GMT. They hit their...

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Brent Crude oil Prices

Oil hits new high near $75 on demand rise, falling inventories

Brent Crudewas trading 0.54% up at $74.37. Oil gained for a fifth day on Wednesday, climbing towards $75 a barrel to its highest since April 2019, supported by a recovery in demand from the pandemic and a drop in U.S Crude inventories. The American Petroleum Institute reported U.S. crude...

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Brent Crude oil Prices

Oil gains as risk of Iran supply resumption recedes

Brent Crudewas trading 0.80% up at $73.44. Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran. Brent...

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