Archive for Tag: Oil

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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Crude Oil WTI

Oil prices rebound after knock from U.S. driving season data

Crude Oil WTIwas trading 0.13% up at $70.04. Oil prices rose on Thursday a day after slipping on data indicating weak U.S. driving season fuel demand as investors eyed upcoming U.S. economic data. Brent Crude Oil futures were up 18 cents, or 0.25%, at $72.40 a barrel by 1024...

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Crude Oil

Iran Sees Most Oil Output Back One Month After Sanctions Removal

Crude Oil WTIwas trading 0.39% up at $70.32. Iran plans to restore the bulk of its Crude Oilproduction within one month of the easing of U.S. sanctions if world powers manage to broker the revival of the 2015 nuclear deal, the official Shana news agency reported, quoting an official...

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Brent Crude Oil Prices

Oil eases on Iran concern after hitting two-year high above $72

Brent Crude was trading 0.29% down at $71.68. Oil eased after hitting a two-year high above $72 a barrel on Monday, pressured by the prospect of higher Iranian exports though recovering demand and OPEC+ supply curves provided underlying support. Demand is rising in the United States and Europe as...

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Crude Oil WTI

Oil prices steady, boosted by U.S. economic data

Crude Oil WTI was trading 0.54% up at $66.56. Oil prices were steady on Thursday, bolstered by strong U.S. economic data that offset investors’ concerns about the potential for a rise in Iranian supplies. Brentfell 2 cents to $68.85 a barrel by 10:52 a.m. EDT (1452 GMT). U.S. West...

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Oil prices

Oil steady with investors focusing on possible return of Iranian supply

Brent was trading 0.19% up at $68.55. Oil prices were steady on Wednesday as concerns a possible resumption in Iranian supply would cause a glut were offset by hopes for stronger U.S. fuel demand after a drop in weekly inventory estimates by the American Petroleum Institute. Brent Crude Oilfutures...

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Oil prices

Oil near one-week high as prospect of Iran glut wanes

Brent was trading 0.32% down at $68.13. Oil prices slipped on Tuesday, but were near one-week highs after jumping more than 3% the previous session as investors tempered expectations of an early return of oil exporter Iran to international crude markets. Brent Crudefutures were down 30 cents, or 0.4%,...

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