Archive for Tag: Oil

Brent Crude futures

Oil prices slide as rapid Omicron spread dims fuel demand outlook

Brent Oil was trading 3.52% down at $70.94. Oil prices slumped by about $3 on Monday as surging cases of the Omicron coronavirus variant in Europe and the United States stoked investor worries that new mobility restrictions to combat its spread could hit fuel demand. Brent Crude futures fell...

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Brent Oil

Oil gains as investors see limited Omicron impact on demand

Brent Oil  was trading 1.34% up at  $76.19. Oil prices extended their rally on Monday as investor appetite improved amid growing relief the Omicron coronavirus variant may not cause severe illness and will likely have a limited impact on global fuel demand. Brentfutures climbed 94 cents, or 1.3%, to $76.09...

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Oil prices

Oil prices on track for biggest weekly gain since August

Brent Oil was trading 0.05%down at $74.36. Oil prices were on track for their biggest weekly gain since late August, with market sentiment buoyed by easing concerns over the Omicron coronavirus variant’s impact on global economic growth and fuel demand. The Brent and WTI benchmarks were both on course...

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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 prices

Oil prices off 7-week lows but under pressure as release of reserves eyed

Brent Oil was trading 0.74%down at $81.87. Oil prices came off seven-week lows on Monday but remained under pressure after Japan said it was weighing releasing oil reserves and as the COVID-19 situation in Europe worsened, raising concerns about both oversupply and weak demand. Brent lost 26 cents, or...

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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 rally resumes as OPEC+ seen keeping supply tight

Brent Oil was trading 0.48% upat $84.03. Oil rose further above $84 a barrel on Friday, within sight of a multi-year high hit this week, as expectations OPEC and its allies will keep supply tight countered rising U.S. inventories and the prospect of more Iranian exports. Algeria said on...

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Oil Mixed, Losses Capped by Solid U.S. Demand, Global Energy Crunch

Brent Oil was trading 0.65% down at  $85.27. Oil was mixed Thursday morning in Asia, giving up some earlier gains as some investors scooped up profits from a recent rally. However, solid demand in the U.S. and a switch to fuel oil from coal and gas amid a global coal...

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