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…
Oil prices rose on Friday after three days of losses as investors dared to withdraw Iranian crude supplies after officials said Iran and world powers had made progress on the nuclear deal. By 1017 GMT, Brent crude was up 80 cents, or 1.2%, to $ 65.91. The West Texas Intermediate was $ 62.82 a barrel,…
Oil prices flattened on Thursday after a two-day slump that reflected the world’s mixed economic recovery from the U.S. epidemic. Demand is expected to continue to rise, while the second coronavirus outbreak in India has further hampered the movement. Brent crude was up 11 cents, or 0.2%, at $ 66.77 a barrel at 0657 GMT,…
