Oil prices jumped around a two-month high on Friday, with Brent crude on track for its biggest weekly jump in one and a half months, supported by the prospect of an European Union ban on Russian oil and the upcoming summer driving season in the United States. Brent crude futures for July down 9 cents…
Oil prices are up in early trade on Monday with U.S. fuel demand, tight supply and a slightly weaker U.S. dollar supporting the market, as Shanghai ready to reopen after a two-month lockdown fuelled worries about a sharp slowdown in growth. Brent crude futures raised 82 cents to $113.37 a barrel, while U.S. West Texas…
Crude oil down by more than one per cent on Tuesday as concerns about demand due to China’s extended Covid lockdowns outweighed support from a possible European oil bans on Russia over its actions in Ukraine. Beijing, reporting dozens of new cases daily, is mass testing citizens to prevent a lockdown similar to Shanghai’s over…
Oil prices are down in on Thursday morning as concerns about increasing coronavirus cases in China, the world’s largest oil importer, weighed on futures markets and fears of more lockdowns in China drove fuel demand concerns. Brent crude futures down 37 cents, or 0.4%, to $104.95 a barrel. U.S. West Texas Intermediate crude futures down…
Oil prices came off three-month lows on Friday but were on track for a weekly decline of around 6% as new lockdowns in countries with low vaccination rates facing surging cases of the Delta variant dimmed the outlook for fuel demand. Broader investor risk aversion also weighed on oil with the U.S. dollar jumping to…
Oil prices dipped on Wednesday, a fifth day of declines with investors wary about prospects for stronger fuel demand as the use of rail, air and other forms of transport remained constrained amid surging COVID-19 cases worldwide. Brent crude was down 5 cents or 0.1% at $68.98 a barrel by 0139 GMT, having fallen 0.7%…
Oil prices climbed on Tuesday, clawing back some of the previous session’s deep losses, even though concerns over coronavirus curbs combined with slowing factory activity in key buyer countries to keep a lid on gains. Brent crude oil futures rose 24 cents, or 0.3%, to $73.13 a barrel, as of 0125 GMT. US West Texas…
Oil prices fell for a third day in a row to a two-week low on Wednesday on a surprise build in U.S. crude stockpiles, negative U.S. economic report and worries the spread of the coronavirus Delta variant will weigh on global energy demand. Traders noted the oil price drop came despite reports of increased Mideast geopolitical tensions. Brent futures…
Oil was fallen down Wednesday morning in Asia, falling for a third consecutive day as concerns about the increasing numbers of COVID-19 cases globally dampen the fuel demand outlook. Brent oil futures inched down 0.03% to $72.39 and WTI futures edged down 0.20% to $70.42. Both Brent and WTI futures fell on Tuesday to their lowest levels since…
Oil in Asia was lower on Friday morning but recorded solid gains at the end of the week and month. Fuel demand is growing faster than supply, while vaccination rates have mitigated the impact of the renaissance on Govt-19 cases worldwide. Brent oil futures were down 0.79% at $ 74.51 after rising 1.75% on Thursday….
