Archive for Tag: wti crude oil

Crude Oil WTI

OPEC+ seen sticking to policy despite higher oil demand

Crude Oil WTIwas trading 0.11% up at $68.61. OPEC and its allies will likely stick to their existing policy of gradual oil output increases despite revising up the 2022 demand outlook and facing U.S. pressure to raise production more quickly, four sources said on Wednesday. The Organization of the...

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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 Crude Oil

Oil steadies near $71 after two-day rally

Brent Crudewas trading 0.27% up at $70.60. Oil prices steadied near $71 a barrel, taking a breather after a strong rally in recent days as Mexico was set to resume crude production following a major outage. Brent Crudewas up 14 cents, or 0.2%, to $71.19 a barrel by 1028...

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Brent Oil

Oil rises but set for 5% weekly drop as Delta variant spreads

Brent Oilwas trading 0.47% down at $66.14. Oil prices steadied on Friday, clambering away from three-month lows, but they were still on track for a weekly loss of more than 5% as new lockdowns in countries facing surging cases of the COVID-19 Delta variant dampened the outlook for fuel...

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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 drops towards $70 as virus concerns weigh

Brent Oil was trading 0.04% down at  $70.43. Oil prices declined towards $70 a barrel on Thursday as more countries imposed fresh movement restrictions to counter a surge in COVID-19 cases, though Middle East tensions offered support. Japan is poised to expand emergency restrictions to more prefectures while China,...

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