Oil in Asia fell on Thursday morning and India’s demand continued to decline. Brent oil futures were down 0.69% at $ 71.72 and WTI futures were down 0.69% at $ 69.48. India, the world’s third-largest oil consumer, recorded the lowest fuel demand since August 2020 as economic activity was hampered by an increase in COVID-19…
Concerns over the weakening global recovery for crude and fuels extended oil prices’ losses on Tuesday on data that showed a drop in China’s oil imports in May. Overnight, Brent crude was down 49 cents, or 0.7%, to $ 71.00 a barrel at 0643 GMT. U.S. Oil was down 44 cents, or 0.6%, at $…
Brent topped $ 72 a barrel for the first time since 2019 as it faced concerns about an overall COVID-19 vaccine release worldwide, such as OPEC + supply discipline and recovery in demand. The Organization of the Petroleum Exporting Countries and its allies said they would abide by the supply restrictions agreed on Tuesday. A…
The West Texas Intermediate gained another 1% on Wednesday, hovering above $ 68 a barrel after OPEC + doubled its decision to ease supply restrictions by July, on-demand. As WTI crude traded at its highest level since October 2018, energy stocks rallied with it. XLE Energy ETF added nearly 2%, pushing its two-day rally closer…
Oil prices rose for a third day on Thursday in anticipation of rising fuel demand by the end of this year, especially in the US and Europe, and China, while large manufacturers have been adhering to supply discipline. After reaching its highest level since September 2019, Brent crude futures rose 40 cents, or 0.6%, to…
China has agreed to trade crude oil and palm oil options on the Shanghai International Energy Exchange and the Dalian Commodity Exchange, respectively, its bond regulator said Friday, adding some products that are open to foreign participants in the trade. Crude oil options will start trading on June 21 and palm oil options on June…
Oil prices rose in Asian trade on Monday on the bright outlook for fuel demand growth over the next quarter, while investors looked forward to the OPEC + meeting this week to see how manufacturers will respond. Brent crude futures for August were up 50 cents, or 0.7%, at $ 69.22 a barrel, the highest…
Oil fell on Wednesday on concerns that the withdrawal of Iranian supplies would exceed expectations for improving U.S. fuel demand, which was strengthened by the fall in weekly inventory ratings. Brent crude oil futures for July were down 6 cents, or 0.1%, at $ 68.59 a barrel at 0434 GMT, while US dollars for July…
Oil prices rose for a third day on Tuesday, hitting a one-week high after rising more than 3% in the previous session, sparking earlier expectations by oil exporters that Iran would make a quick return to international crude markets. Brent crude futures rose 14 cents, or 0.2%, to $ 68.60 a barrel at 0400 GMT,…
Oil rose in Asia on Monday morning, with U.S. Investors’ sentiment has been boosted by signs of an economic recovery and improved outlook for fuel demand following the COVID-19. Investors are also watching the progress of negotiations to renew the 2015 Iranian nuclear deal, which is likely to boost global crude supplies. Brent oil futures…
