Tag Archives: Brent oil

Oil prices were steady on Thursday after an European Central Bank (ECB) decision to slow interest rate hikes but were unable to claw back much of this week’s more than 8% decline as demand concerns in major consuming countries continued to weigh. Brent futures were up 28 cents, or 0.39%, …

Oil prices sank 4 percent to a five-week low on Tuesday along with a drop in Wall Street stocks on worries about a US bond default, weak economic data from China, and expectations the US and Europe will raise interest rates again this week. Brent futures fell $3.16, or 4.0 …

Oil prices clawed back some ground on Thursday after sliding to 15-month lows in the previous session as markets calmed somewhat after Credit Suisse was thrown a financial lifeline by Swiss regulators. But battered by fears of a deepening crisis for banks worldwide, market sentiment remained fragile with both benchmarks …

Oil prices fell over 2% on Tuesday to their lowest since before Russia’s invasion of Ukraine, as economic data spurred concerns about a potential global recession, while the market awaited clarity on talks to revive a deal that could allow more Iranian oil exports.

Oil prices rose on Friday but were headed for their first weekly loss in three weeks as worries about inflation and China’s COVID lockdowns slowing global growth offset concerns about dwindling supplies from Russia. Brent crude futures were up $1.88, or 1.8%, at $109.33 a barrel at 1227 GMT, while …

Oil prices rose on Thursday amid concerns about supply as the European Union (EU) mulls a potential ban on Russian oil imports days after diminished supplies from Libya rocked the market. Brent crude futures rose $1.13, or 1.1%, to $107.93 a barrel at 1228 GMT. U.S. West Texas Intermediate (WTI) …

Oil prices drifted lower on Friday and were set to drop around 3% for the week as consuming countries’ planned release of 240 million barrels from emergency stocks offset some concerns over reduced supplies from Russia due to western sanctions. Brent crude futures edged lower by 55 cents, or 0.6% …

Oil prices rose on Thursday from a three-week low touched in the previous session after consuming nations announced a huge release of oil from emergency reserves, as worries over tight supplies still clouded the market outlook. Brent crude futures climbed $1.42 or 1.4%, to $102.52 a barrel at 0651 GMT, …

Oil prices rose on Wednesday on fears of tight supply and a drawdown in U.S. inventories, despite worries about the likely hit to economic activity from the spread of the Omicron coronavirus variant. U.S. inventories fell more than expected, with crude stocks down by 4.7 million barrels, though that is …

Oil prices eased on Thursday on China’s plan to release state oil reserves to reduce pressure on domestic refiners and a smaller than expected U.S. weekly crude draw. Traders said losses were limited by the slow return of U.S. output after Hurricane Ida and higher than expected U.S. gasoline demand. …

Oil prices edged higher on Thursday, supported by a sharp decline in U.S. crude stocks and a weaker dollar, though gains were capped by an OPEC+ decision to stick to its policy of gradually increasing output. Brent crude was up 45 cents, or 0.6%, at $72.04 a barrel by 1101 …

Oil prices skidded on Thursday for a sixth session, hitting lows not seen since May, pressured by a stronger U.S. dollar and concerns about weaker demand as COVID-19 cases rise. The oil market rallied throughout the first half of 2021, but the newest wave of coronavirus infections throughout the world …

Oil prices rose more than 1% on Tuesday, recouping some of the losses in the previous session when prices hit a three-week low, but gains are likely to be limited on worries that rising COVID-19 cases and restrictions in China will dent fuel demand. Brent crude was up by 84 …

Oil prices rise with growing demand faster than  the supply. Brent crude oil futures of September delivery,climbed 28 cents, or 0.4 percent, to set the settlement price at $76.33 per barrel. While October Brent crude oil futures closed up 31 cents at $75.41 per barrel. The West Texas Intermediate Crude …

Crude futures slipped on Monday as concerns over slowing global growth outweighed the prospect of tightening supply after talks among key producers to raise output in coming months stalled. Brent crude for September fell 15 cents, or 0.2%, to $75.40 a barrel by 0411 GMT while U.S. West Texas Intermediate …

Oil prices were heading towards three-year highs on Tuesday, towing petrol currencies and bond yields with them, after the world’s main oil producers failed to agree on production plans. Europe’s stocks spluttered at the prospect of faster inflation. China had spooked its tech sector too with another high-profile clampdown, but …

Oil slipped further below $45 a barrel on Friday, giving up this week’s gains, under pressure from doubts about demand recovery due to the novel coronavirus pandemic and rising supply. Two prominent forecasters, the International Energy Agency and the Organization of the Petroleum Exporting Countries trimmed their 2020 oil demand …

Crude prices rose on Tuesday, underpinned by expectations of U.S. economic stimulus to support the world’s biggest oil consumer, as well as a rebound in Asian demand as economies, pick up. Brent crude LCOc1 futures rose 22 cents to $45.21 a barrel by (1543 GMT). U.S. West Texas Intermediate (WTI) …

Oil prices slipped off five-month highs on Thursday as bearish sentiment about fuel demand undermined support from a weak dollar .DXY and falling U.S. crude inventories. Brent crude LCOc1 fell 23 cents to $44.94 a barrel by 1100 GMT, while U.S. crude CLc1 was down 48 cents at $41.71, breaking …

Brent oil futures on Tuesday closed at their highest since early March on hopes the United States is making progress on a new economic stimulus package, as well as curbing the coronavirus spread. Brent rose 28 cents, or 0.6%, to settle at $44.43 a barrel, its highest close since March …