Tag: BRENT

Oil rises to $67, heads for weekly gain on demand hopes

Oil rose to $67 a barrel and was heading for a weekly gain as a stronger demand outlook and signs of economic recovery in China and the United States offset rising COVID-19 infections in some other major economies

Oil rebounds on robust economic data

Strong economic data from China and the United States helped to lift oil prices, recouping some of the previous session’s losses, as coronavirus-led volatility continues to dominate

Oil rises as Suez Canal ship runs aground, European lockdowns weigh

Oil rose more than 2% after a ship ran aground in the Suez Canal raising supply concerns, although fears of a slow recovery in demand due to European lockdowns limited gains

Oil prices rise on economic outlook, drawdown in fuel stocks

Oil prices rose on a weaker dollar as fears of rising US inflation eased while a steep fall in US fuel stocks meant a crude glut would be short-lived as refiners restart in Texas after last month’s freeze

Brent hits $70 for first time since pandemic began

Oil prices climbed above $70 a barrel for the first time since the start of the coronavirus crisis, after the US Senate passed a $1.9 trillion economic stimulus package and a Yemeni group attacked Saudi Arabia’s oil industry

Oil up as OPEC+ considers rollover rather than raising output

Oil prices rose, boosted by expectations that OPEC+ producers might decide against increasing output when they meet this week, while signs of progress in the coronavirus vaccine rollout in the United States gave further support

Oil jumps on vaccine optimism, US stimulus

Oil prices rose more than $1, supported by optimism over COVID-19 vaccinations, a U.S. stimulus package and growing factory activity in Europe despite restrictions imposed to curb the coronavirus

Oil drops on dollar strength and OPEC+ supply expectations

Oil prices fell as bond price rout led to gains in the U.S. dollar while crude supply is expected to rise in response to prices climbing above pre-pandemic levels

Barclays lifts 2021 oil price outlook on tighter U.S. supply view

The bank increased its 2021 Brent crude oil price outlook by $7 to $62 per barrel and West Texas Intermediate (WTI) crude price estimate by $6 to $58 a barrel

Oil extends losses as Texas prepares to ramp up output

Oil prices fell from recent highs for a second day on Friday as Texas energy firms began to prepare for restarting oil and gas fields shuttered by freezing weather