Archive for Tag: wti brent crude oil prices

Brent Oil Futures

Oil Down Over Unexpected Surge in U.S. Gasoline Inventories

Brent was trading 0.08% down at $63.11. Oil was down Thursday morning in Asia, as U.S gasoline raised concerns about weakening demand for crude in the world’s biggest oil consumer alongside rising stockpiles. Brent Oil Futures were down 0.33% to $26.95 by 11:23 PM ET (3:23 AM GMT) and...

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Suez Canal

Traffic slows in Suez Canal as tanker faces difficulties

Brent was trading 1.72% up at $63.13. Marine traffic slowed in the Suez Canal on Tuesday as oil tanker M/T Rumford appeared to face difficulties in the south of the canal, shipping websites MarineTraffic and TankerTrackers said. A trade source said that the canal notified companies that the M/T...

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Brent Oil

Suez Canal shipping backlog ends, days after giant vessel freed

Brent was trading 0.03% up at $64.67. All ships stranded by the grounding of the giant container ship Ever Given in the Suez Canal in March had passed through the canal by Saturday, ending the backlog that built up during the blockage, the canal authority said. The last 61...

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Oil prices

Oil Ends March Lower on Cautious Pre-OPEC Trade

Brent was trading 2.20% up at $64.12. Oil prices fell more than 2% Wednesday to close down for the day and March as traders moved cautiously ahead of a decision on production quotas by OPEC+. New York-traded West Texas Intermediate, the benchmark for U.S. crude, settled down $1.39, or...

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OPEC+

OPEC+ panel lowers oil demand growth forecast

Brent was trading 1.49% up at $1687.60. OPEC+ has lowered its 2021 oil demand growth forecast by 300,000 barrels per day reflecting concerns about the market’s recovery amid a wave of new coronavirus lockdowns, a report from its experts panel meeting seen by Reuters showed. The Joint Technical Committee,...

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Oil prices

Oil prices rise 2% on fears Suez blockage may last weeks

Brent Crude was trading 3.60% up at $64.16. Oil prices reversed a sharp sell-off a day earlier to rise about 2% on Friday on mounting fears that it could take weeks to dislodge a giant container ship blocking the Suez Canal, which would squeeze supplies of crude and refined...

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Brent Crude

Oil falls as demand concerns outweigh Suez Canal disruptions

Brent Crude was trading 1.40% down at $63.48. Oil prices fell on Thursday as a new round of coronavirus restrictions in Europe revived worries about demand for oil products, even as tug boats struggled to move a stranded container ship blocking crude oil carriers in the Suez Canal. Brent...

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Oil prices

Oil prices rise after sell-off driven by demand fears

Brent Crude was trading 0.49% down at $62.94. Oil prices rose by more than $1 on Friday, after a big sell-off in the previous session as a new wave of coronavirus infections across Europe triggered fresh lockdowns and dampened expectations of any imminent recovery in fuel demand. Brent Crudewas...

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Brent Crude

Oil drops amid rising stockpiles and COVID-19 demand concerns

Brent Crude was trading 1.18% down at $68.06. Oil prices dropped on Tuesday, extending declines to three consecutive days, as rising stockpiles in the United States added to the risks to a demand recovery after countries including Germany and France halted COVID-19 vaccinations. Brent Crudewas down 69 cents, or...

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